Monday, April 18, 2011

Read Matt Taibbi!

Matt Taibbi is a journalist. He does not shy away from polemics. The 'mighty' Goldman Sachs, whose reputation is fraying, hates his guts. For Taibbi's mighty pen famously characterised the house of that the drapper Goldman built with Sachs as 'a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money'.
In the 18 April issue, MT has smoked out the corruption that prevades the world of high US finance in 'the Real Housewives of Wall Street', an expose of how two wives of Morgan Stanley's senior management, with no experience, parlayed from the largesse of the US ratepayers in rescuing MS and Goldman and other big bracket banks from collapse in the mess they made in 2008, into a billion dollar cottage industry. And thanks to little or no government oversight on the money it dispersed liberally to anyone who could make a case for it, the wife of John Mack, ceo of Morgan Stanley, found a way of buying her and hubby a posh house in Manhattan's upper eastside with a ticket price of some us$44 million.
GuamDiary also suggests reading a collection of Taibbi's writings in the recently published 'Griftopia : bubble machines, vampire squids, and the long con that is breaking America', as well as his other writings.

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