Wall Street’s Bailout Hustle : Rolling Stone

God bless MATT TAIBBI. He got it right again!

This is the most important issue in America right now and the only magazine to deal with it right is Rolling Stone?

Goldman Sachs and other big banks aren’t just pocketing the trillions we gave them to rescue the economy – they’re re-creating the conditions for another crash.

I have to admit, I do have a soft spot for Jann Wenner.

Cathy Geiss from 30 Rock with her Teddy Ruxpin bear

Incidentally, America’s ruling class should be hopping mad they’re getting fleeced by this corrupt executive compensation system. The bankers run their businesses into the ground because their bonuses are based on year-on-year performance.

That is to say, the easiest way for me to double profits from one year to the next is to crash the company first. Then I can do a mediocre job and look like a rockstar.

via Wall Street’s Bailout Hustle : Rolling Stone.

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