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Matt Taibbi's Latest: " Why Isn't Wall Street In Jail?"

Tyler Durden's picture


From Matt Taibbi of Rolling Stone:

Why Isn't Wall Street in Jail?

Financial crooks brought down the world's economy — but the feds are doing more to protect them than to prosecute them

Over drinks at a bar on a
dreary, snowy night in Washington this past month, a former Senate
investigator laughed as he polished off his beer.

"Everything's fucked up, and nobody goes to jail," he said. "That's
your whole story right there. Hell, you don't even have to write the
rest of it. Just write that."

I put down my notebook. "Just that?"

"That's right," he said, signaling to the waitress for the check.
"Everything's fucked up, and nobody goes to jail. You can end the piece
right there."

Nobody goes to jail. This is the mantra of the
financial-crisis era, one that saw virtually every major bank and
financial company on Wall Street embroiled in obscene criminal scandals
that impoverished millions and collectively destroyed hundreds of
billions, in fact, trillions of dollars of the world's wealth — and
nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant
and pathological celebrity con artist, whose victims happened to be
other rich and famous people.

The rest of them, all of them, got off. Not a single executive who ran
the companies that cooked up and cashed in on the phony financial boom —
an industrywide scam that involved the mass sale of mismarked,
fraudulent mortgage-backed securities — has ever been convicted. Their
names by now are familiar to even the most casual Middle American news
consumer: companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan
Chase, Bank of America and Morgan Stanley. Most of these firms were
directly involved in elaborate fraud and theft. Lehman Brothers hid
billions in loans from its investors. Bank of America lied about
billions in bonuses. Goldman Sachs failed to tell clients how it put
together the born-to-lose toxic mortgage deals it was selling. What's
more, many of these companies had corporate chieftains whose actions
cost investors billions — from AIG derivatives chief Joe Cassano, who
assured investors they would not lose even "one dollar" just months
before his unit imploded, to the $263 million in compensation that
former Lehman chief Dick "The Gorilla" Fuld conveniently failed to
disclose. Yet not one of them has faced time behind bars.

Instead, federal regulators and prosecutors have let the banks and
finance companies that tried to burn the world economy to the ground get
off with carefully orchestrated settlements — whitewash jobs that
involve the firms paying pathetically small fines without even being
required to admit wrongdoing. To add insult to injury, the people who
actually committed the crimes almost never pay the fines themselves;
banks caught defrauding their shareholders often use shareholder money
to foot the tab of justice. "If the allegations in these settlements are
true," says Jed Rakoff, a federal judge in the Southern District of New
York, "it's management buying its way off cheap, from the pockets of
their victims."

To understand the significance of this, one has to think carefully
about the efficacy of fines as a punishment for a defendant pool that
includes the richest people on earth — people who simply get their
companies to pay their fines for them. Conversely, one has to consider
the powerful deterrent to further wrongdoing that the state is missing
by not introducing this particular class of people to the experience of
incarceration. "You put Lloyd Blankfein in pound-me-in-the-ass prison
for one six-month term, and all this bullshit would stop, all over Wall
Street," says a former congressional aide. "That's all it would take.
Just once."

But that hasn't happened. Because the entire system set up to monitor and regulate Wall Street is fucked up.

Just ask the people who tried to do the right thing.

Here's how regulation of
Wall Street is supposed to work. To begin with, there's a semigigantic
list of public and quasi-public agencies ostensibly keeping their eyes
on the economy, a dense alphabet soup of banking, insurance, S&L,
securities and commodities regulators like the Federal Reserve, the
Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of
the Currency (OCC) and the Commodity Futures Trading Commission (CFTC),
as well as supposedly "self-regulating organizations" like the New York
Stock Exchange. All of these outfits, by law, can at least begin the
process of catching and investigating financial criminals, though none
of them has prosecutorial power.

The major federal agency on the Wall Street beat is the Securities
and Exchange Commission. The SEC watches for violations like insider
trading, and also deals with so-called "disclosure violations" — i.e.,
making sure that all the financial information that publicly traded
companies are required to make public actually jibes with reality. But
the SEC doesn't have prosecutorial power either, so in practice, when it
looks like someone needs to go to jail, they refer the case to the
Justice Department. And since the vast majority of crimes in the
financial services industry take place in Lower Manhattan, cases
referred by the SEC often end up in the U.S. Attorney's Office for the
Southern District of New York. Thus, the two top cops on Wall Street are
generally considered to be that U.S. attorney — a job that has been
held by thunderous prosecutorial personae like Robert Morgenthau and
Rudy Giuliani — and the SEC's director of enforcement.

The relationship between the SEC and the DOJ is necessarily close,
even symbiotic. Since financial crime-fighting requires a high degree of
financial expertise — and since the typical drug-and-terrorism-obsessed
FBI agent can't balance his own checkbook, let alone tell a synthetic
CDO from a credit default swap — the Justice Department ends up leaning
heavily on the SEC's army of 1,100 number-crunching investigators to
make their cases. In theory, it's a well-oiled, tag-team affair:
Billionaire Wall Street Asshole commits fraud, the NYSE catches on and
tips off the SEC, the SEC works the case and delivers it to Justice, and
Justice perp-walks the Asshole out of Nobu, into a Crown Victoria and
off to 36 months of push-ups, license-plate making and Salisbury steak.

That's the way it's supposed to work. But a veritable mountain of
evidence indicates that when it comes to Wall Street, the justice system
not only sucks at punishing financial criminals, it has actually
evolved into a highly effective mechanism for protecting
financial criminals. This institutional reality has absolutely nothing
to do with politics or ideology — it takes place no matter who's in
office or which party's in power. To understand how the machinery
functions, you have to start back at least a decade ago, as case after
case of financial malfeasance was pursued too slowly or not at all,
fumbled by a government bureaucracy that too often is on a first-name
basis with its targets. Indeed, the shocking pattern of nonenforcement
with regard to Wall Street is so deeply ingrained in Washington that it
raises a profound and difficult question about the very nature of our
society: whether we have created a class of people whose misdeeds are no
longer perceived as crimes, almost no matter what those misdeeds are.
The SEC and the Justice Department have evolved into a bizarre species
of social surgeon serving this nonjailable class, expert not at
administering punishment and justice, but at finding and removing
criminal responsibility from the bodies of the accused.

The systematic lack of regulation has left even the country's top
regulators frustrated. Lynn Turner, a former chief accountant for the
SEC, laughs darkly at the idea that the criminal justice system is
broken when it comes to Wall Street. "I think you've got a wrong
assumption — that we even have a law-enforcement agency when it comes to Wall Street," he says.

In the hierarchy of the SEC, the chief accountant plays a major role
in working to pursue misleading and phony financial disclosures. Turner
held the post a decade ago, when one of the most significant cases was
swallowed up by the SEC bureaucracy. In the late 1990s, the agency had
an open-and-shut case against the Rite Aid drugstore chain, which was
using diabolical accounting tricks to cook their books. But instead of
moving swiftly to crack down on such scams, the SEC shoved the case into
the "deal with it later" file. "The Philadelphia office literally did
nothing with the case for a year," Turner recalls. "Very much like the
New York office with Madoff." The Rite Aid case dragged on for years —
and by the time it was finished, similar accounting fiascoes at Enron
and WorldCom had exploded into a full-blown financial crisis. The same
was true for another SEC case that presaged the Enron disaster. The
agency knew that appliance-maker Sunbeam was using the same kind of
accounting scams to systematically hide losses from its investors. But
in the end, the SEC's punishment for Sunbeam's CEO, Al "Chainsaw" Dunlap
— widely regarded as one of the biggest assholes in the history of
American finance — was a fine of $500,000. Dunlap's net worth at the
time was an estimated $100 million. The SEC also barred Dunlap from ever
running a public company again — forcing him to retire with a mere
$99.5 million. Dunlap passed the time collecting royalties from his
self-congratulatory memoir. Its title: Mean Business.

And the conclusion:

So there you have it. Illegal immigrants: 393,000. Lying moms: one.
Bankers: zero. The math makes sense only because the politics are so
obvious. You want to win elections, you bang on the jailable class. You
build prisons and fill them with people for selling dime bags and
stealing CD players. But for stealing a billion dollars? For fraud that
puts a million people into foreclosure? Pass. It's not a crime. Prison
is too harsh. Get them to say they're sorry, and move on. Oh, wait —
let's not even make them say they're sorry. That's too mean; let's just
give them a piece of paper with a government stamp on it, officially
clearing them of the need to apologize, and make them pay a fine
instead. But don't make them pay it out of their own pockets, and don't
ask them to give back the money they stole. In fact, let them profit
from their collective crimes, to the tune of a record $135 billion in
pay and benefits last year. What's next? Taxpayer-funded massages for
every Wall Street executive guilty of fraud?

The mental stumbling block, for most Americans, is that financial
crimes don't feel real; you don't see the culprits waving guns in liquor
stores or dragging coeds into bushes. But these frauds are worse than
common robberies. They're crimes of intellectual choice, made by people
who are already rich and who have every conceivable social advantage,
acting on a simple, cynical calculation: Let's steal whatever we can,
then dare the victims to find the juice to reclaim their money through a
captive bureaucracy. They're attacking the very definition of property —
which, after all, depends in part on a legal system that defends
everyone's claims of ownership equally. When that definition becomes
tenuous or conditional — when the state simply gives up on the notion of
justice — this whole American Dream thing recedes even further from

Read the full thing here



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Wed, 02/16/2011 - 15:11 | 967615 slackrabbit
slackrabbit's picture

And the biggest laugh is that people believe the Madoff was caught.

he wasn't, he turned himself least eventually he found a conscience.

Wed, 02/16/2011 - 15:15 | 967626 TooBearish
TooBearish's picture

Good entertainment, thanks Matt for connecting some of the dots -but he needs more edge - like why WTC7 went down with all the Enron records in it that connected the Bushes with Ken Lay.  Or how Hank Paulsen was allowed to bait and switch Congress on TARP and have his old firm benefit to the 100s of billions, where he still owned shares, or the Vice Chairman of the NY FED, some asshole that was allowed to buy GS during the crisis on the insider info he got....the list is long.

Don't hold your breath for any change in the system until it complete distroys itself, and that might be quite a while....BTFD

Wed, 02/16/2011 - 15:15 | 967628 Sizzurp
Sizzurp's picture

They are waving their private parts at us and laughing their asses off.  You little sheeple, eat some cake will you.

Wed, 02/16/2011 - 15:30 | 967681 eddiebe
eddiebe's picture

I'll take tha cake, I'm getting extremely fed up with shit though!

Wed, 02/16/2011 - 15:16 | 967640 AlaricBalth
AlaricBalth's picture

One of 2009's largest bank failures was wrought with suspicious activity. First the CEO through various family members and entities, funneled over $35,000 in campaign contributions to a Senator, not from his home state, who sat on the powerful Banking, Housing and Urban Affairs Committee.  When said bank ran into trouble, miraculously the lead regulator at OTS, who had been involved in several meetings with the aforementioned Senator, allowed the bank to illegally back date a rather large Tier 1 capital infusion from the holding company to the bank, thereby giving the appearance that the bank was healthier than it actually was. This misled many shareholders as well as another government agency, the FDIC.  The bank eventually failed anyway due to the incompetence and greed of its executive ranks, but not before insiders could sell their shares at artificially inflated prices.

Wed, 02/16/2011 - 19:03 | 968262 karzai_luver
karzai_luver's picture

and for the whipped cream and cherry on top many of the so called experts and pols screamed that the negative attitudes and nasty talk was what killed the bank,it would have been fine but for that.


AND the sad part is that many of the peeps believed it.



Wed, 02/16/2011 - 15:18 | 967643 whisperin
whisperin's picture

What Taibbi and others like him need to do is get current cases out that appear to be in the process of being buried. Next pull a facebook just like the dudes in the middle east and get hecklers out in front of , CNBS and the others to get on their repoters asses for being part of the cover up. Include the case handlers at Justice and the FBI as well. Once the sunshine is let in the rats run. I dare one of you reporters to get in the face of one of these "officials or reporters" and ask some of the pointed questions that are oft repeated here at ZH. It might not do anything but the entertainment value...priceless. At the very least you could goad a reporter..."look at what it'll do for your ratings!!"

Wed, 02/16/2011 - 15:27 | 967674 newworldorder
newworldorder's picture

I wish Mr. Taibbi would stop writing his stories. All these stories do is to inflame our collective conscience and make us realize how impotent the citizen is in all of this. If the system is this corrupt - What is the point?

If Congressional staffers, investigators, law inforcement and US attorneys will do nothing, then why do we have to read the conscience riddled ramblings of Mr. Taibbi. He is like the canary that sings, while offering any real solutions.

(sarcasm off)

Wed, 02/16/2011 - 15:41 | 967709 bunkermeatheadp...
bunkermeatheadprogeny's picture

Time for some political Viagra.

Wed, 02/16/2011 - 15:41 | 967712 dark pools of soros
dark pools of soros's picture

so you would of told Paul Revere to stay on his horse, turn around and do something about the attack all on his own and not bother you about it???

Wed, 02/16/2011 - 15:28 | 967675 Sathington Willougby
Sathington Willougby's picture

I got to the end and then had to ask "what's property?"

I'm an american, don't expect me to know what property is.

Wed, 02/16/2011 - 15:42 | 967715 bunkermeatheadp...
bunkermeatheadprogeny's picture

Property is the piece of land that you occupy and rent from the government while also paying off a mortgage to the bank.

Wed, 02/16/2011 - 16:37 | 967883 weinerdog43
weinerdog43's picture

That's 'real' property.

Sorry, I couldn't resist the pun.

Wed, 02/16/2011 - 15:32 | 967682 rosiescenario
rosiescenario's picture

The root of the problem is election contributions coupled with a class of professional politician whose only goal is to get re-elected. Add to that the revolving door of supposed 'regulators' going to work for the 'regulatees' (or their law firms) and you have the current situation. What is needed is a one term limit for the House and Senate, complete disclosure of campaign contributions, and laws prohibiting regulators from ever working for the regulatee....and will that ever happen?????


It is pretty obvious to anyone who can fog a mirror that WS has complete control of the Feds and that Israel and the oil lobby run our foreign policy.


If France can build nukes to supply 80% of its electricity, creating jobs at home and cutting its balance of payments deficits, why did we not? I'd start by looking at the American Petroleum Institute to answer that question.

Why are we so embroiled in the ME? I'd say it was for the benefit of Israel and the oil industry...and a smattering of arms merchants. Does the average U.S. citizen benefit from our 'bringing democracy' to Iraq? What an entire crock of shit has been sold to the American people. Who really benefits from our entire 'war on terror'? Do you and I? The entire need for a war on terror would disappear if our foreign policy was aligned with the true interests of the majority of U.S. citizens, but it is not because our government has been usurped by special interest groups which provide for the election of and re-election of our government. 

Wed, 02/16/2011 - 15:39 | 967703 newworldorder
newworldorder's picture

Everything you say is true. So What? By whom and how is this going to be changed. Most can say how things "should be" but not how to get there.

How do you change a system in which political, legal and regulatory capture has been achieved and the electorate either does not care or does not give a "you know what?"

Wed, 02/16/2011 - 21:58 | 968802 Implicit simplicit
Implicit simplicit's picture

Interesting, I hope the movement grows.

Wed, 02/16/2011 - 15:39 | 967700 bunkermeatheadp...
bunkermeatheadprogeny's picture

Cramer just stood up for JP Morgan on Stop Trading today.

Cramer said, "I wouldn't trust what Madoff says"

Let me apply math to this proposition:

Jim Cramer's advice = -1

Jim Cramer makes negative assertion towards Madoff's statements = -1

-1 x -1 = 1

Wed, 02/16/2011 - 15:49 | 967738 jobs1234
jobs1234's picture

Cramer stands up for the system just the way it is. Look at his relentless defense of Bernanke and QE now and compare that to his rage when Bernanke wouldnt step in in 2007-2008 as the financial stocks began their quickening descent.

All Wall Street wants is free money and low rates. Then its party time.


Wed, 02/16/2011 - 15:39 | 967706 william the bastard
william the bastard's picture

Taibbi gets close but doesn't even key on the greatest con of the age:

That the TARP bailout of AIG was a de facto bailout of GS and a payoff of the GS confidence game/ insurance scam of the dufuses at AIG.

The taxpayers paid off AIG's idiot bet with GS wherein GS held all the inside information re positions without AIG's knowledge. No one lost but the American taxpayer. Heads I win tails the taxpayer pays the marker!! Bullshit.

Wed, 02/16/2011 - 15:44 | 967723 newworldorder
newworldorder's picture

Agreed 1000%.

Now what are you and I and Taibbi  and a couple hundred ZeroHedge readers going to do about it?

Wed, 02/16/2011 - 16:11 | 967795 william the bastard
william the bastard's picture

We're gonna get the pitchforks by gosh!!  We'll want to leave a few behind though.

We'll need those for stacking the bodies.


Wed, 02/16/2011 - 21:49 | 968769 jomama
jomama's picture

yeap, i'll be right behind you! right after i fill up my gas tank...

Wed, 02/16/2011 - 16:22 | 967830 alien-IQ
alien-IQ's picture

The reason Matt Taibbi doesn't address that issue in this article is because he already addressed it in great detail in his July 2009 Rolling Stone article called "The Great American Bubble Machine".

If you haven't read it, it's really worth the time. Terrific article...and it also happens to be the birthplace of the term "Vampire Squid" (regarding GS).

Wed, 02/16/2011 - 15:42 | 967716 Bansters-in-my-...
Bansters-in-my- feces's picture

If Blankfein got "some black" he would never go back....Or would he like it...?

And I find it odd Loyd and his clan slipped an "L",into his name "Bankfeind" and dropped the "D"

Wed, 02/16/2011 - 15:47 | 967732 Fix It Again Timmy
Fix It Again Timmy's picture

It's only a matter of time before a "mechanic" gets in the game...

Wed, 02/16/2011 - 15:46 | 967733 partimer1
partimer1's picture

Its really sad that this beautiful country is getting so f*cked up, and vast many people are so angry but don;t really know why.  If some bad bankers get their time, the society will be very much in a receovery mode.  

Wed, 02/16/2011 - 16:15 | 967803 Pee Wee
Pee Wee's picture

Cheer up, the good news is that with social tools like crowd sourcing, there now exists a basic toolset to build a case.


Check out LVLT.

Wed, 02/16/2011 - 15:52 | 967746 Duffminster
Duffminster's picture


The extent of corruption in the United States is breathtaking. Most of the so called "Too Big Fails" that were largely responsible for the financial and economic Meltdown are now far bigger than they were before the problem they created. It raises the question of whether they caused the panic and the meltdown just for that reason, not unlike what the big Wall Street companies did in 1907. Same big beneficiary with the same initials was involve, "J" that is.

We are at the point where if QE goes away interest rates spike to 10%, the US sovereign debt interest payment spikes over $1 trillion and the entire US descretionary budget is consumed and the US has a sovereign default.

The alternative is QE forever and QE is a direct transfer of wealth from the poor to the rich. QE drives the stock market up, commodities up.

The insiders on Wall Street according to articles I've read here on Zero Hedge are massively selling on the rally even as the QE money filters through the giant TBTF financial amalgemations and drives the indexes up. Bottom line, the dollar is the sacraficial lamb but the super rich simply move into gold as the vast majority of citizens lose their wealth through hyper inflation.

In the meantime the Republicans and their increasingly right wing democratic counter parts want to cut the last bit of humanity from the system by attacking social security, medicare and bentifs for the most vulnerable in our nation. The US is marching towards the type of revolutions we've seen in Egypt as is Europe. The super rich and their moronic robotic figure heads in government that do their bidding rather than the noble calling of true public service are sowing the seeds of their own end.

The words of Fredrick Douglas have never proven more true than now:

"“Power concedes nothing without a demand. It never did and it never will. Find out just what any people will quietly submit to and you have found out the exact measure of injustice and wrong which will be imposed upon them, and these will continue till they are resisted with either words or blows, or both. The limits of tyrants are prescribed by the endurance of those whom they oppress.”

Bing Duffminster

Wed, 02/16/2011 - 21:47 | 968763 jomama
jomama's picture

you had me until you started blaming things on the Republicans.

Seriously?  You STILL can't see our domestic political parties are one in the same?

Thu, 02/17/2011 - 08:01 | 969549 anony
anony's picture

Too bad you are a partisan, when your post would have meant more without your bias.

But the Douglas quote makes it somewhat credible. Now man up and see the faults in the democrats as well.

Wed, 02/16/2011 - 15:52 | 967748 palmereldritch
palmereldritch's picture

Probably because they own the jails too.

Whereas prisons are tightly courted on Main Street, on Wall Street the larger corrections industry has created a bull market--further evidence that crime does indeed pay. Tremendous growth in the prison population, coupled with astonishing increases in expenditures, has generated a lucrative market economy with seemingly unlimited opportunities for an array of financial players: entrepreneurs, lenders, investors, contractors, vendors, and service providers.

Wed, 02/16/2011 - 15:55 | 967755 monopoly
monopoly's picture

Excellant article. And this is America, land of the free. What a joke this country has become.

Wed, 02/16/2011 - 16:21 | 967827 GoinFawr
GoinFawr's picture

It's not funny anymore.

Wed, 02/16/2011 - 16:09 | 967786 Caviar Emptor
Caviar Emptor's picture

Wall Street bankers are the new nobility. We've come full circle since the American Revolution in now having the country dominated by a privileged ruling cast of untouchables. 

Expect more of the same as power begets power, wealth begets wealth. The political structure is firmly entrenched and can't be undone through existing laws or simple democratic checks and balances. 

When a world power is in decline the power class usually gets rich feeding off the carcass rather than taking on new risk or projects. 

One very telling feature of the 'new economy' going forward: more fortunes will be made through inheritance than in the self-made style of the good ole days. WE'll hear about the few self-mades as part of propaganda. Most people will survive by 'knowing their place'

Wed, 02/16/2011 - 19:35 | 968372 the rookie cynic
the rookie cynic's picture

Post of the day. +1 (or whatever QE3 ends up totalling)

Wed, 02/16/2011 - 16:08 | 967789 Let them all fail
Let them all fail's picture

Great enlightening article, thanks for sharing...

Wed, 02/16/2011 - 16:08 | 967792 Hugh_Jorgan
Hugh_Jorgan's picture

There are few tools in the box as useless as Tiabbi.

Tiabbi and Rolling Stone, you're about 4 years too late to break this news to any of us. Where have you been? Oh that's right carrying water for the current radical administration, the UN, and the IPCC.

File this article away under; "10 minutes I'll never get back".

Wed, 02/16/2011 - 16:13 | 967804 william the bastard
william the bastard's picture

Agreed 100%. BTW watch the Grammys?

Wed, 02/16/2011 - 16:12 | 967800 Racer
Racer's picture

This whole thing really sickens me, they go after people who drop litter. They go after people who were looking at the road instead of their speedo and go a couple of miles over the speed limit and then will have to pay higher insurance costs.

Go after banksters who robbed millions of pensions and are starving millions of poor people? Never

Wed, 02/16/2011 - 16:24 | 967845 newworldorder
newworldorder's picture

Why are you surprised? This is the kind of "change" this administration brought to town. Since the last election we now have a new and improved group of "change agents."

Don't you just love that "corporate speak?"  Its all good going forward with 2 chickens in every pot.


Wed, 02/16/2011 - 16:14 | 967808 Pretorian
Pretorian's picture

Tyler I logged in just to write that this is the best article in the year of 2011.Keep the pressure on and they will trow more scape goats in fire.

Wed, 02/16/2011 - 16:18 | 967818 Dirtt
Dirtt's picture

How Matt Taibbi can hit such grand slams and then revert back to a progressive cocksucker is a mystery to me.

It ain't jail Matt.  It's called PRISON.

Wed, 02/16/2011 - 16:42 | 967896 weinerdog43
weinerdog43's picture

Have a junk, fascist.

Wed, 02/16/2011 - 16:21 | 967828 sharkbait
sharkbait's picture

Mike Milken and Ivan Boesky ( is he still alive?) must be scratchin their heads saying "WTF?!.  we did time for a lot less than this!"

Wed, 02/16/2011 - 16:21 | 967829 barliman
barliman's picture


Blankfein is in a "pound-me-in-the-ass" prison ...

... problem is ... he and all his "bros" are BUBBA.



Wed, 02/16/2011 - 17:02 | 967959 Bob
Bob's picture

I hope to see how that works for them inside prison. 

Wed, 02/16/2011 - 21:43 | 968748 Implicit simplicit
Implicit simplicit's picture

We are having the shoe shank for sheisters special tonight with sliced squid. Squid.

Wed, 02/16/2011 - 23:17 | 969009 Bob
Bob's picture


Wed, 02/16/2011 - 16:25 | 967843 Hang The Fed
Hang The Fed's picture

Welcome to the butt-fucking of everything that you once thought was right and true.

Wed, 02/16/2011 - 16:28 | 967857 Obnoxio
Obnoxio's picture

The banking "Crisis" has really washed away the illusion of democracy in the USA. Obama and Congress are controlled by the bankers. We needed another Pecora Commission with the re-instatement of the Glass–Steagall Banking Act but got a wimpy government cave in to banking interests. 2008 was probably too late in the game to save the Dollar anyways. We'll see what happens to the bankers after the Dollar defaults, they may have to leave the country.

Wed, 02/16/2011 - 16:32 | 967866 Trundle
Trundle's picture

Why isn't Wall Street in jail?

For the same reason he, Denninger and Galt have punted on the 911 issue.

You see, it really is all about the Mooslums.

Wed, 02/16/2011 - 16:35 | 967880 MiddleMeThis
MiddleMeThis's picture

I read the entire Rolling Stone article, now if we could just get the REST of American to do the same!

Wed, 02/16/2011 - 16:54 | 967936 Stuart
Stuart's picture

What?  Compete with Jersey Shore and American Idol?  They're much more important.   

Wed, 02/16/2011 - 20:09 | 968450 Bob
Bob's picture

MSNBC had Taibbi on tonight. 

Wed, 02/16/2011 - 16:52 | 967931 Stuart
Stuart's picture

In order for these Wall Street mobsters to get paid, the Fed needs to keep the game going.  This is why QE to infinitum is all but assured.   They are sociopaths that cannot fathom losing their entitlement to your property.    The only real way the game ends is when they are found face down in ditches. 

Wed, 02/16/2011 - 16:59 | 967952 Seasmoke
Seasmoke's picture

unless Matt plans on shooting the top 25 criminals , he is wasting all of our time

Wed, 02/16/2011 - 17:08 | 967978 wawawiwaa
wawawiwaa's picture

Why would anyone go to prison when no Congressmen are in prison?? This is retahded.

Wed, 02/16/2011 - 21:35 | 968734 Implicit simplicit
Implicit simplicit's picture

They did come down hard on one bad ass felon-Martha Stewart. Now there is a real criminal.

Thu, 02/17/2011 - 03:21 | 969419 JW n FL
JW n FL's picture

Save the Dow-Jones!!!


Jail Martha Stewart Again Now!!!!

Wed, 02/16/2011 - 17:09 | 967983 Northeaster
Northeaster's picture

With the combination of weeks of data and stories, I just did what I can for now, email my Senator (Scott Brown), sometimes they do in fact respond without a form letter. While a simple note may not instigate any action, at least I did the minimum, for now.


I truly don't know how I'd react if both myself and spouse lost our jobs, not too kindly is my guess. We're just middle-class Americans trying to better our children's future, without a massive Trust. It appears that future is literally being robbed over laughs and scotch.


My guess is, eventually, when enough middle-class Americans lose everything, and have nothing left to lose, we'll see/read some incredible things. We're not there yet,  as enough people still have food, and clinging on to some hope of something better (which will never come of course).

Wed, 02/16/2011 - 17:16 | 968001 Bob
Bob's picture

Better has definitely gone bye-bye.

Wed, 02/16/2011 - 17:17 | 968004 squexx
squexx's picture

A better question might be "Why haven't all those Wall St. jooz and their lackies haven't been shot yet?" If enough people lose it, hopefully their will be lots of bullets flying and ropes going over tree branches where the parasites live!

Wed, 02/16/2011 - 17:17 | 968005 le_cinque
le_cinque's picture

Take it to the street, people! There has to be a way! Wait... 

On second thought, it is not democratic, let's not do it.

Wed, 02/16/2011 - 17:30 | 968048 GFORCE
GFORCE's picture

Keep this as your headline article for a loonngg time.

Wed, 02/16/2011 - 17:34 | 968057 Mach1513
Mach1513's picture

TBTJ - too big to jail.

Wed, 02/16/2011 - 17:46 | 968082 naughtius maximus
naughtius maximus's picture

Awesome. Make it a tshirt

Wed, 02/16/2011 - 17:35 | 968059 Jim in MN
Jim in MN's picture

Out, damn Vampire Squid!  And all your corrupt spawn!

Come on, America, curse with me!


And don't forget, refinance your mortgage with a local credit union today, while you are still permitted to...

Wed, 02/16/2011 - 17:36 | 968063 Atomizer
Atomizer's picture

Oh shoot, we missed the meeting today. LOL

Wed, 02/16/2011 - 17:45 | 968078 naughtius maximus
naughtius maximus's picture

All I gotta say is these thieves better find a way to keep us fed.

Because when the bread stops heads will be chopped off.

Wed, 02/16/2011 - 17:56 | 968105 ebworthen
ebworthen's picture


The guillotine or axe would be too compassioate.


"Hang 'em, hang 'em, hang 'em high.

Hang 'em no hood and rough hemp in public square.

Hang 'em naked, and gawking, no hair.

Hang 'em one at a time, hang 'em high."

Thu, 02/17/2011 - 03:02 | 969402 Rusty Shorts
Rusty Shorts's picture

Monsanto has something for you.

Wed, 02/16/2011 - 17:53 | 968092 ebworthen
ebworthen's picture


Wed, 02/16/2011 - 18:26 | 968181 MiningJunkie
MiningJunkie's picture

Quit fucking whining - they saved the banking system and the stock market and if you whiners would have bought gold and silver 10 years ago and then bought the fucking dip on every pull since March 2009, you would be rich Rich RICH...Matt Tabbi is probably short like the rest of you thinking that the Dow at 3,000 is "Good for America"...

(sarcasm off as well)

Wed, 02/16/2011 - 19:49 | 968404 anony
anony's picture


Wed, 02/16/2011 - 19:47 | 968407 anony
anony's picture

Saved the banking system? 

Who says, Lord Blankfein and Jamie?

And you believe it would have failed because Hank "two dicks" Paulson told you so?

C'mere, I have such a deal for you on this Rolx watch.

Wed, 02/16/2011 - 21:29 | 968718 Implicit simplicit
Implicit simplicit's picture

Did they put the chip on your frontal lobe or in your medulla oblaganta.

Thu, 02/17/2011 - 03:24 | 969420 JW n FL
JW n FL's picture

Have some Respect!!!


They are doing God's Work!!!!

Wed, 02/16/2011 - 18:37 | 968194 tasmandevil
tasmandevil's picture

This guy Stanford's in the can and got pumped fulla strange drugs so he can't testify...

Also, he's one of the few felons that ain't jewish if I'm not mistaken.

Wed, 02/16/2011 - 19:22 | 968320 suz
suz's picture

So-Lloyd Blankfein in pound-me-in-the-ass prison - that's about as good as a Nobel Peace Prize--don't you think?

Wed, 02/16/2011 - 19:22 | 968321 lunaticfringe
lunaticfringe's picture

I think this piece is perfect. It is everything I've been screaming about since the fall of 08. Fuck the rule of law. Hank Paulson- You make Bernie Madoff look like a fucking piker!!

Wed, 02/16/2011 - 20:04 | 968464 Bob
Bob's picture

It was interesting reading a nice summary of things I've read on ZH over the past couple years.  Not a single piece of it was new to us, but hopefully it will bring wider attention. 

Ratigan keeps hammering away at it.  He had Bill Black on again today. 

Wed, 02/16/2011 - 19:29 | 968348 aerial view
aerial view's picture

Good article but we need quick simple solutions from all the ZH eggheads. Since ignorance by the masses seems to be a major obstacle, why not print up bumper stickers that say "JAIL  WALL STREET BANKERS or JAIL BANK FRAUDSTERS" and stick them on everyone's car? When enough people see this, things may change.  

Wed, 02/16/2011 - 19:48 | 968414 Fecund Stench
Fecund Stench's picture

Put a Zero Hedge bumper sticker on your vehicles like I did.

Wed, 02/16/2011 - 19:31 | 968354 freedmon
freedmon's picture

<misplaced post deleted>

Wed, 02/16/2011 - 19:33 | 968364 Paul Thomason
Paul Thomason's picture

I actually wrote to the SEC a while back asking this exact question and here is the reply they sent to me;



Thank you for your email and taking the time to alert us to your concerns.

In response to your inquiry, please note that the SEC is a civil law enforcement agency. That means we cannot impose criminal sanctions, such as sending wrongdoers to jail. However, we can and do coordinate our investigations with criminal prosecutors, such as the Department of Justice. The following link on our website provides additional information about the SEC's Division of Enforcement, and the types of actions that it is authorized to pursue under the federal securities laws:

Once again, thank you for your email. We hope that this information is helpful to you.


David Powers
U.S. Securities & Exchange Commission


Wed, 02/16/2011 - 19:52 | 968432 Northeaster
Northeaster's picture

At least you did something, my guess is the majority of posters here just rant here and ends there.

Wed, 02/16/2011 - 21:25 | 968706 Implicit simplicit
Implicit simplicit's picture

Not me, but I can't tell you what I did/do on a blog; they would have to kill me.

Wed, 02/16/2011 - 19:33 | 968367 Geoff-UK
Geoff-UK's picture

Nice, but not great article. 

Minus 10 points for failing to cover the revolving door of SEC officials going to work for the very companies they were investigating the previous month. 

Minus another 10 points for failing to cover the money flowing to re-election coffers and jobs offered to relatives of politicians in order to make AIG's bad debt the bad debt of John Q. Taxpayer.

Wed, 02/16/2011 - 19:48 | 968416 Fecund Stench
Fecund Stench's picture

Please read the article before commenting.

Thu, 02/17/2011 - 13:42 | 970729 Geoff-UK
Geoff-UK's picture

I did.  And I'm saying he didn't hit those issues, so feel free to make me look like an idiot by quoting something from that article that speaks to those 2 issues clearly.

Wed, 02/16/2011 - 19:34 | 968369 SparkyvonBellagio
SparkyvonBellagio's picture

Truly a bummer for Steve Jobs.

Why does this scourge have to strike great people and the scum live to a ripe ol' age?

Wed, 02/16/2011 - 19:41 | 968394 JW n FL
JW n FL's picture

More Crime on Wall Street!!!


Business as Usual????


='s Green Shoots Bitchez!!!!

Wed, 02/16/2011 - 19:51 | 968429 Fecund Stench
Fecund Stench's picture

Support Anonymous. They are our only hope.

Wed, 02/16/2011 - 20:06 | 968471 Bob
Bob's picture

They do great work. 

Wed, 02/16/2011 - 20:17 | 968486 Fecund Stench
Fecund Stench's picture

Hopefully, they'll soon run out of security consultants to hack and start going after banksters.

Here's how Anonymous took down HBGary.

Wed, 02/16/2011 - 21:50 | 968773 Bob
Bob's picture


Wed, 02/16/2011 - 22:22 | 968857 Fecund Stench
Fecund Stench's picture

It's obvious to all now that mad skills are not required when the victim uses the same simple password for all his accounts.  These were supposed security professionals.  Do you think the banksters and the lawyers would be any harder to hack?  I want to see their emails.

Thu, 02/17/2011 - 01:05 | 969270 MachoMan
MachoMan's picture

I have a moderately educated guess that lawyers rode shotgun through an incredible amount of the securitization mess.  The officers might have money on the mind, but they completely lack the sophistication to do anything but read the paper and play golf.  They don't take a piss without a lawyer holding their dicks and whispering them sweet nothings, telling them their peepees are big and fill up their whole hand!

I thought we were gonna get some lawyers vs client goodness with the BoA deal...  but that didn't really pan out and all we got was a settlement...  I will place a significant bet that in the annals of wallstreet lawyer servers lie dormant emails that would make the pope blush...  if I was an enterprising hacker, that would have been the first place that I would have looked...  [you know they have get out of jail card free cards/CYA letters/etc. sitting all over the server...  hell an email list and the dates of correspondence would probably be enough...  probably dont even need the content...  you can probably just deduce the entire conversation]. 

Thu, 02/17/2011 - 09:09 | 969627 Bob
Bob's picture

That was my guess as well.

Wed, 02/16/2011 - 22:00 | 968809 Rick64
Rick64's picture


Wed, 02/16/2011 - 20:13 | 968492 gall batter
gall batter's picture

I have Taibbi's book on my bed among the 15 or 20 recommended by friends n family.  Do I read it or the self-help books?  Are prepper books considered self help?  Help!

Thu, 02/17/2011 - 01:16 | 969292 Aristarchan
Aristarchan's picture

Read sex-above-the-waist female gothic novels, they hold all the secrets of life.

Wed, 02/16/2011 - 20:22 | 968512 Everybodys All ...
Everybodys All American's picture

Biggest banker crook of all time get's you guessed it Times Man of the Year.

Wed, 02/16/2011 - 20:33 | 968547 Element
Element's picture

I love Matt Taibbi's work, he calls it as it is, better then almost any other 'investigative Journalist'. But be made one small but very telling word omission that would have really clarified what's gone on here;

Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous [JEWISH] people.

Or did forget that basic aspect of what Madoff did - WHO he did it to ... that required he be made an example?

The difference of that single uber-divisive word is something that would have been grasped by anyone familiar with Rabbinical teachings regarding the way the 'Chosen' and the Goy are to be treated under the 'Law' ... i.e. the neo-Mosaic variety which is what selective US small-j 'justice' is being actively and deliberately transitioned into. It's not just a case of the poor being systemically prejudiced (though they are), it's a case of what tribe you are and that should be fairly clear by now.

BofA and TBTFs created and own the rocket-docket 'court' system, as a previous Matt Taibbi piece revealed, and to ignore who owns and runs the TBTFs is to miss the whole meaning of what is happening in the US of A, and in the US Con-gress, Senate and White House.

There are some basic operation facts and issues regarding this that even Matt dares not to openly utter or suggest (how long do you think he would last if he did? ... even if it is 100% correct?).

But nonetheless you can be sure that any that eventually 'do-time' are not tribesmen unless these also openly and brazenly ripped-off their tribesmen as well.

Only Goy will do real time, but as so few of the high-ranking mega-crook banksters were actually Goy (virtually none in fact ... another startling fact) there's almost no convenient Goy around to put through the media wringer and cast into the slammer to appease the fury of the masses of little people.

They really screwed up this aspect of their global swindle.

Wed, 02/16/2011 - 21:53 | 968784 anony
anony's picture

There is an urban legend circulating now that part of Madoff's motivation other than a genetic propensity to make as much money as possible,  was to penalize those jews---- that used him for his ability to secure for them outsized financial returns-------for excluding him. 

Apparently the way the story is being told, he was irate, insulted and despondent that he wasn't brought in to the ranks of their zionist elite.  He was ridiculed behind his back by the very people that he was helping to get wealthier.

Wed, 02/16/2011 - 20:55 | 968627 Trifecta Man
Trifecta Man's picture

Given people ultimately act out of their own selfish best interest in most cases, I just came to the conclusion that the reason why these criminals aren't incarcerated is that the rats would squeal on the people involved in getting them incarcerated, implying that some of them are on the take.

Wed, 02/16/2011 - 21:02 | 968640 mkkby
mkkby's picture

There's a lot that can be done.  Not one shot needs to be fired.

We the people just need to STOP PARTICIPATING.  Don't buy anything except food, fuel, necessary medicines and PM's.  Don't watch TV and especially don't buy anything advertised on TV.  Get your federal reserve green monopoly money out of large NY banks, and put it in local credit unions.

This will starve the beast of fraud profits and tax revenue.  At that point the economy will be so dead we can all start refusing to pay taxes.  Once 10% of the population does that we'll have a new gov faster than you can say "Egypt".


Wed, 02/16/2011 - 21:43 | 968750 GreenSideUp
GreenSideUp's picture


Agree, agree agree!  (I just made a somewhat similar post somewhere on this thread.)  

Wed, 02/16/2011 - 21:45 | 968757 anony
anony's picture

What country are you from?

Withholding taxes was intentionally made law to prevent you refusing to pay taxes.

Wed, 02/16/2011 - 21:54 | 968785 GreenSideUp
GreenSideUp's picture

So change your withholding to starve the beast (of course, I'm well aware you can't do anything about FICA taxes).  Be creative.  Think outside the box.

Wed, 02/16/2011 - 21:09 | 968668 XenOrbitalEnginE
XenOrbitalEnginE's picture

Amusing that the copier of the Rolling Stone piece seems to want accountability here - yet like many on zh throws caution to the winds in respect to easily understood "heat pollution".



Wed, 02/16/2011 - 21:17 | 968687 disabledvet
disabledvet's picture

raise cash=stiff the Nexus.  that's how weak it appears to me, too.  do the banks still not pay their dividend?  does the government still not as well?  and lookey, lookey:  the equity valuations of energy companies go through the roof while all those who went bankrupt before prepare for bankruptcy part II.  let me guess:  no money.  i know:  why don't we draft them!!!!!  tell them if their companies fail YET AGAIN it's TIME FOR A LITTLE KABUL THEATER!

Wed, 02/16/2011 - 21:18 | 968691 haskelslocal
haskelslocal's picture

Should we accept our fate? Are we helpless to fight it? Can today's technology (internet/information) allow for better informed people who could finally shout, "No More!"


Why do I read this, believe it, know it, feel sick about it and then feel so alone about doing anything?

Why does every puzzle seem unsloveable? We read, we rant, we feel better informed... Then we relent and accept and eat a pretzel.  

Wed, 02/16/2011 - 23:32 | 969043 Aristarchan
Aristarchan's picture

Ranting on a website lost in a cacophony of sites that rant about everything from environmentally contaminated breast milk to the most absurd conspiracy theories ever dreamed up...does nothing at is just low noise. Hoarding guns and food and screaming on sites about revolution does nothing either - only brands you as a fool, and puts you in the sights of those who have much to lose from that type of scenario - and have the law behind them to enable them to stop it. If enough people could get together (and it would take millions in this country) with a common goal, it might work...but probably not. There would be to many others who stand to gain from the existing system, or think they will in the future. Just enjoy the pretzel, I guess.

Wed, 02/16/2011 - 21:18 | 968693 Slicyman
Slicyman's picture

Another maybe even better question is why there aren't more government officials in jail? For the most part Wall Street takes advantage of the framework created by Washington.

Wed, 02/16/2011 - 21:28 | 968715 lolmaster
lolmaster's picture

And when will Rolling Stone reporters and Congressional aides get pounded in the ass? Oh wait that's how they got their jobs and how they spend most evenings

Wed, 02/16/2011 - 21:59 | 968790 searcher68
searcher68's picture


Wed, 02/16/2011 - 21:55 | 968794 Yen Cross
Yen Cross's picture

 Tabloid Fodder. Lets make some money!!!

Wed, 02/16/2011 - 21:56 | 968798 searcher68
searcher68's picture

The fuckers won't crack down on the truly diabolical TBTBA (too big to be arrested) types, and yet austerity has come home to roost for the People. I don't even speed 2 miles over anymore, can't afford their bullshit fines. That's silver out of my pocket. Wonder how long before the great American wakening? Probably never. Hell no, hillary cunton doesn't want to remove the drip of this week's Idol!

Wed, 02/16/2011 - 21:59 | 968806 aquarian1
aquarian1's picture

There is nothing new here. We all know they are criminals - its not that the crime isn't "real like guys with guns", it is the laughable notion that we the people have any power at all. The voting system is a placebo to placate the mass media and the masses.

They love the internet because we can all rail to each other about how bad it is and dissipate our energy in time-wasting posts like I have just made. :-)

If I'm signed in with overly complicated password garbage - why must I additional use a CAPTCHA? Is this to try an make me feel I am important and contributing to an important site, or blindless bureaucracy gone beserk with power?

Wed, 02/16/2011 - 22:15 | 968843 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Judy Judy just got out of jail. It sucked.

No one to yell at but myself!

Wed, 02/16/2011 - 22:17 | 968848 Madhouse
Madhouse's picture

Fool me once.....

Wed, 02/16/2011 - 22:18 | 968852 Madhouse
Madhouse's picture

...shame on you....

Wed, 02/16/2011 - 22:21 | 968856 Madhouse
Madhouse's picture

...ya fool me, ya can't git fooled again... 

GW Bush, marking the near end of the end of the country..


Wed, 02/16/2011 - 22:35 | 968890 Madhouse
Madhouse's picture

You hear ? Every line item in the budget is on a website called  

Contains all 42,234,456 lines of spending. Choose a couple hundred lines and then select one of the pre-prepared letters to your Congressman, your Senator, the President or even the WH janitor. They'll be sent together to really hit home. Do your part in preventing the country from destructing itself. Foreigners: do it to prevent us from fucking up your future too.

Do it now and feel better about the rest of your day.


Wed, 02/16/2011 - 22:35 | 968891 Destrier
Destrier's picture

Matt goes far too easy on Fannie Mae.  But, as a Democrat, he'd rather not point out that the DNC was the board of directors of Fannie Mae.

Wed, 02/16/2011 - 22:44 | 968916 cjbosk
cjbosk's picture

hmm...I guess the people walking away from their mortgages aren't responsible at all huh.  Man, this shit's clutch!

Wed, 02/16/2011 - 22:45 | 968922 cjbosk
cjbosk's picture

One man responsible for everything...the one and only, Liberal Sodemist, Barney (Left Handed, Gay, Jew with a Speech impediment) Franks.


Get me a rope

Thu, 02/17/2011 - 09:15 | 969633 Bob
Bob's picture

Gonna pull a David Caradine, cjbosk?  I suspect a belt will work before you lose your wood.

Wed, 02/16/2011 - 22:48 | 968933 UP4Liberty
UP4Liberty's picture

David Bond has written an excellent piece in the Wallace Street Journal:

"Stiff the Fed"

At this point in time, Bond's suggestion to stiff these a**hats is - in this American's view - the preferred non-violent option, as we simply have no credible, legitimate legislative recourse nor method of resolving our grievances in this matter through Congress, the Senate, nor the Judiciary.

This stopped being America a long time ago, and I'm ashamed to admit it that I have been blind to this for so long.

This must have been what it was like to live in the Soviet Union under Stalin, Kruschev, Gorbachev and now Putin.

Goodbye, USSofA.



Wed, 02/16/2011 - 23:34 | 969049 Bob
Bob's picture

Nice article.  I agree wholeheartedly. 

Wed, 02/16/2011 - 23:20 | 969012 Aristarchan
Aristarchan's picture

Government is full of the type of people involved here, and those who are not, will be after they leave government. Two things you can count on....individuals in government will not legislate themselves into the poor house, nor jail.

Thu, 02/17/2011 - 00:56 | 969251 MachoMan
MachoMan's picture

This is part of the reason I became a lawyer.  I figured if worst came to worst, the assholes writing the laws would be lawyers and I would have a meal ticket/governmental monopoly...  I've been right thus far.  I suspect as the belts get tightened, you'll find more "practicing law without a license" curb stomps (the cases will be heard in front of...  wait for it...  wait for it...  lawyers!).

Thu, 02/17/2011 - 01:07 | 969275 Aristarchan
Aristarchan's picture

Yep. And gov types who want to go to work for private companies after they get through with their "public service" are not going to make it too difficult for themselves in the future by passing onerous legislation. And....BTW, something I have wondered about...can you tell me why a hearse horse snickers when hauling a lawyer?:)

Thu, 02/17/2011 - 10:38 | 969915 MachoMan
MachoMan's picture

No.  But I like lawyer jokes.  Pray tell.

Wed, 02/16/2011 - 23:37 | 969061 Huck T
Huck T's picture

393,00 people deported? 

That is an accomplishment.

I have to remind myself that there are 563,626 people in all of Wyoming. 

Thu, 02/17/2011 - 00:53 | 969244 MachoMan
MachoMan's picture

Not really, you have to put it into context...  how many millions are here illegally?  Not that anyone wants to pour their own concrete...

Wed, 02/16/2011 - 23:43 | 969078 samsara
samsara's picture

Rolling Stone / Matt Taibbi


WikiLeaks / julian assang's ass.

The average person can understand this.

Matt makes Rolling Stone feel like it was when Hunter and Kunstler et al wrote for them in the time of Nixon.


Thu, 02/17/2011 - 08:52 | 969567 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Hopefully one day you kids are going to wake up and smell what The Rock is cooking.

Wall St theater(CIA) needs a pressure release valve so it all appear believable.

Taibbi is the actor hired to vent the steam. He does not even know it, neither do you all.

Thu, 02/17/2011 - 00:05 | 969120 Maniac Researcher
Maniac Researcher's picture

I find it ironic that the privileged and bigoted pit of libertarian fucktards (aka Zero Hedge) is citing Matt Taibbi at all.


Knowing the man, he'd probably get a sick chuckle out of it.


People, the only reason you are collectively whining here and praying for collapse is because you aren't the ones in power and were hoodwinked by those that are. You already have your libertarian paradise in the US free of pesky corporate regulation where the rich control the wealth contribute virtually nothing to society! Enjoy it! Not making it? Joe the Plumber and Sarah Palin say fuck you!

Complaints about Bankster fraud ring hollow when one reads common ZH phrases such as: "Hofjuden did this.." or "Ann Coulter was right.." or "Limbaugh said this.." or "Zionists made mommy cry" ..and so on and so forth. I'll check in with you bunker guns n gold asshats in a few months for your bi-monthly torah burning. Have a nice day.

Thu, 02/17/2011 - 00:15 | 969143 Bastiat
Bastiat's picture

How long does it take to re-stuff your strawman when you're finished humping it?

Thu, 02/17/2011 - 00:30 | 969179 Maniac Researcher
Maniac Researcher's picture

An apologist for this tripe wouldn't know a strawman argument if it bit them in the ass.

Thu, 02/17/2011 - 00:52 | 969241 MachoMan
MachoMan's picture

Is this the same thing that happened with the tea party?  Idiots infiltrate it and then project themselves over the whole? 

Thu, 02/17/2011 - 00:37 | 969200 Aristarchan
Aristarchan's picture

Being of the civilized sort, I make it a point to only burn a Torah once every quarter.

Thu, 02/17/2011 - 01:13 | 969288 Reese Bobby
Reese Bobby's picture

You make such important points!  How rude of the average American to feel angry at the outrage described in the article, (that I would bet you were too lazy to read).  But you should read the article, especially the last paragraph, think about it, and then repent to somebody.

I've been around a little so I recognize an angry, bit player in my industry who realizes it is passing them by.  You are the one who would be wise to stop whining and figure out how you are going to survive going forward.

Me?  I happen to be wealthy thanks to the money handling business.  You would be a very extreme outlier if you made in your entire career what I have made in single years.  But I'm not proud of that; just pointing out that ZH attracts all types who find unique value here.  I can say, after the past few years I have lost respect for my industry; and I remain very much "in power."  It just doesn't mean much to me anymore.

The Big Banks own our politicians, our supposed regulators and the private Federal Reserve Bank.  Once you understand that fact your sad little noise is just pathetic; the average American should hate us...A LOT MORE...

Once I see the Big Banks can treat our currency as an obscene joke how should I expect regular Americans to feel about answering that 5AM alarm clock, to go make $25,000 a year to support a CRIMINAL Enterprise.

I don't pretend I can give you a conscience.  But God won't give up on you Sparky...


Thu, 02/17/2011 - 02:00 | 969337 Maniac Researcher
Maniac Researcher's picture

Reese: The average American is angry! they have a right to be angry!

translation: I am apologizing for bigoted ignorance! ..not to mention creating the misnomer that the ZH crowd somehow represents the 'average American'

Reese: I am in power. It just doesn't mean that much to me anymore.

translation: I can't argue that I'm privileged; I just don't feel like doing that much about it.

Reese: The big banks treat our currency as an obscene joke.

translation: I have the most to lose here, because I am [ironically] more invested in the system I am attempting to deride.

Reese: ZH attracts all types who find unique value here.

translation: The lack of moderation emboldens bigoted assholes - and due to the way the web tends to concentrate people of like opinion, special efforts must be made to promote the 'diversity' of the ZH reader/poster - because without a hint of legitimacy (read: bullshit) it otherwise reads like a support group for mostly white, bitter, semi-affluent males who feel secure in letting their selfish and often violent discriminatory fantasies fly without opposition.

Thu, 02/17/2011 - 02:23 | 969360 hound dog vigilante
hound dog vigilante's picture

MR, your skillset won't cut the mustard in the new paradigm and you know it. Go ahead and trash the goldbugs and patriots if it makes you feel better. Categorizing the folks here as one thing or another... you unmasked yourself there.


The ride on the bandwagon is just about over.  Sure, your team is still winning the games - hard to lose when you write the rules, operate the scoreboard, and pay the umpires. Just one problem... the entire league is folding at the end of the season.

Thu, 02/17/2011 - 03:52 | 969441 Maniac Researcher
Maniac Researcher's picture

You have no idea who I am or what my abilities are.

Being that you are defending what has become mass of idiocy here on ZH, I, however have some inkling about who you are.

Your sports analogies, suspect use of the word 'patriot', and your belief in the apparent inevitablity of a collapse provide an even clearer picture.

Yes - don't address my criticisms - simply skip to the part where my 'team' 'loses' in your paranoid victimization fantasy.

Tyler -- groupthink has made this community soft.

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