Photo from Media Bistro
If you've been mostly "going with the flow" during this financial crisis, just hoping it will all work out, you probably don't want to read this piece. Matt Taibbi, one of my favorite journalists, has a handle on the whole thing, but it isn't a pretty read. Hold on to your hat (and your wallet).
[Excerpt]
The Big Takeover
It's over — we're officially, royally f**ked. No empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country's heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire. . .
Read more at: Rolling Stone
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