Tuesday, May 22, 2012

Theme: Bailouts

  • “You never want a serious crisis to go to waste,” Rahm Emanuel, then chief of staff to President-elect Obama, said in November 2008, describing the opportunities for reform presented by the financial meltdown.Read more
  • America has two national budgets, one official, one unofficial. The official budget is public record and hotly debated: Money comes in as taxes and goes out as jet fighters, DEA agents, wheat subsidies and MedicareRead more
  • During the winter of 2008-2009, when I was just feeling my way through the first story I was writing for Rolling Stone about the financial crisis, I started to notice something amusing. One of the keys to talking to sources about any subject is clicking with their sense of humor, and I was noticing that with a lot of the financial people I was calling, I was missing laugh cues whenever anyone mentioned the investment bank Goldman Sachs. No one ever just referenced "Goldman"; they would say "those motherfuckers" or "those cocksuckers" or "those motherfucking cocksucking assholes at Goldman, Sachs." Read more
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