Matt Taibbi
You win the modern financial-regulation game by filing the most motions, attending the most hearings, giving the most money to the most politicians and, above all, by keeping at it, day after day, year after fiscal year, until stealing is legal again.Collection: Legal
The threat posed by Bank of America isn't just financial - it's a full-blown assault on the American dream. Where's the incentive to play fair and do well, when what we see rewarded at the highest levels of society is failure, stupidity, incompetence and meanness? If this is what winning in our system looks like, who doesn't want to be a loser?Collection: Society
By incentivizing Wall Street players to sniff out inefficient or corrupt companies and bet against them, short-selling acts as a sort of policing system; legal short-sellers have been instrumental in helping expose firms like Enron and WorldCom.Collection: Legal
What we Americans go through to pick a president is not only crazy and unnecessary but genuinely abusive. Hundreds of millions of dollars are spent in a craven, cynical effort to stir up hatred and anger on both sides.Collection: Anger
The NFL, sadly, has a fatal environmental problem: It kills its workers.Collection: Environmental
The print magazine and print journalism industry is obviously in a great deal of trouble, and one of the things that happened when this business started to give way to the Internet and to broadcast television is that a lot of organizations started cutting specifically investigative journalism and they also started cutting fact-checkers.Collection: Business
Amendments occupy a great deal of most legislators' time, particularly those lawmakers in the minority. Members of Congress do author major bills, but more commonly they make minor adjustments to the bigger bill.
The House Rules Committee is perhaps the free world's outstanding bureaucratic abomination - a tiny, airless closet deep in the labyrinth of the Capitol where some of the very meanest people on earth spend their days cleaning democracy like a fish.
By creating an urgent crisis that can only be solved by those fluent in a language too complex for ordinary people to understand, the Wall Street crowd has turned the vast majority of Americans into non-participants in their own political future.
The only reason investors haven't run screaming from an obviously corrupt financial marketplace is because the government has gone to such extraordinary lengths to sell the narrative that the problems of 2008 have been fixed.
If anything, the bailouts actually hindered lending, as banks became more like house pets that grow fat and lazy on two guaranteed meals a day than wild animals that have to go out into the jungle and hunt for opportunities in order to eat.
For the broadcast business to be successful, viewers need to be not merely interested in our political melodramas, they have to be in an absolute state about them - emotionally invested in the outcome and frightened not to watch what happens next.
It obviously matters who gets to be president. And it's perfectly valid for us media types to advocate for the candidate we think is more qualified, based on our reporting. But the hype has gotten so out of control, it's become bigger than the presidency itself.
What makes us feel pessimistic about the world, ultimately, is the way the media encourage us to believe that our fate hangs on the every move of the promise-breaking, terminally disappointing Teflon liars in Washington.
Once you give an NFL player permission to have thoughts, you invite all kinds of mischief.
America is a country that has been skating for ages on its unparalleled ability to look marvelous on the outside.
We may be many things, we Americans, but we always get the job done.
Private equity firms aren't necessarily evil by definition. There are many stories of successful turnarounds fueled by private equity, often involving multiple floundering businesses that are rolled into a single entity, eliminating duplicative overhead.
Within the cult of Wall Street that forged Mitt Romney, making money justifies any behavior, no matter how venal.
Contracting corruption has been around since the construction of the Appian Way.
Capitalism is a system for determining objective value.
There are some who think that the government is limited in how many corruption cases it can bring against Wall Street, because juries can't understand the complexity of the financial schemes involved. But in 'U.S.A. v. Carollo,' that turned out not to be true.
Over the years, many in the public have become numb to news of financial corruption, partly because too many of these stories involve banker-on-banker crime.
You might think otherwise, but it doesn't naturally follow that because a law has been passed by Congress and signed by the president, said law actually has to be implemented.
An unregulated derivatives market essentially gives Wall Street a way to place hidden taxes on everything in the world.
At least Bank of America got its name right. The ultimate Too Big to Fail bank really is America, a hypergluttonous ward of the state whose limitless fraud and criminal conspiracies we'll all be paying for until the end of time.
In a pure capitalist system, an institution as moronic and corrupt as Bank of America would be swiftly punished by the market - the executives would get to loot their own firms once, then they'd be looking for jobs again.
Sarah Palin is a symbol of everything that is wrong with the modern United States. As a representative of our political system, she's a new low in reptilian villainy, the ultimate cynical masterwork of puppeteers like Karl Rove.
In America, it takes about two weeks in the limelight for the whole country to think you've been around for years.
Democracy doesn't require a whole lot of work of its citizens, but it requires some: It requires taking a good look outside once in a while, and considering the bad news and what it might mean, and making the occasional tough choice, and soberly taking stock of what your real interests are.
One of the great cliches of campaign journalism is the notion that American elections have long since ceased to be about issues and ideas.
Since the end of the Cold War, America has been grasping left and right for an identity.
'Prop trading' is just a fancy term for banks gambling in the market for their own profit.
To Wall Street, a firm like BP isn't just a profitable energy company with lots of assets like oil rigs and pipelines and gas stations - it's also a corporation that routinely borrows hundreds of millions of dollars to keep its business up and running.
John Boehner is the ultimate Beltway hack, a man whose unmatched and self-serving skill at political survival has made him, after two decades in Washington, the hairy blue mold on the American congressional sandwich.
Criminal justice, as it pertains to the Goldmans and Morgan Stanleys of the world, is not adversarial combat, with cops and crooks duking it out in interrogation rooms and courthouses. Instead, it's a cocktail party between friends and colleagues who from month to month and year to year are constantly switching sides and trading hats.
Mike Huckabee represents something that is either tremendously encouraging or deeply disturbing, depending on your point of view: a marriage of Christian fundamentalism with economic populism.
America has two national budgets, one official, one unofficial.
If the law doesn't apply equally to everybody, then you don't really have a system of law.
In modern American politics, being the right kind of ignorant and entertainingly crazy is like having a big right hand in boxing; you've always got a puncher's chance.
This is America: Corporate stealing is practically the national pastime, and Goldman Sachs is far from the only company to get away with doing it.
The joy of being a consumer is that it doesn't require thought, responsibility, self-awareness or shame: All you have to do is obey the first urge that gurgles up from your stomach. And then obey the next. And the next. And the next.
Politics is about a lot more than winning and losing. I think politics at its best is about compromise, shades of grey and about issues.
In the '50s and '60s, journalism wasn't a profession. It wasn't something you went to college for - it was really more of a trade. You had a lot of guys who came up working in newspapers at the copy desk, or delivery boys, and then they would somehow become reporters afterward and learn on the job.
In reality, everybody in Congress is a stand-in for some kind of lobbyist. In many cases it's difficult to tell whether it's the companies that are lobbying the legislators or whether it's the other way around.
You know what an effective deterrent to crime is? Jail! And do you know what kind of criminal penalty actually makes people think twice about committing crimes the next time? The kind that actually comes out of some individual's pocket, not fines that come out of the corporate kitty.
There is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power.
Creating legislation is a tough process. But watering down legislation? Strangling it with lawsuits and comment letters and blue-ribbon committees? Not so tough, it turns out.
'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.
I actually never thought that Barack Obama was anything but a typical Democratic party politician, which to me meant that he was probably in bed with Wall Street.