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The failure to work out sensible budgets makes it impossible for government agencies to make long-term plans, and instead leaves them scrambling to spend money in the short term.
Matt Taibbi
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Matt Taibbi
Age: 54
Born: 1970
Born: March 2
Author
Editorial Columnist
Journalist
Writer
Matthew C. Taibbi
Matthew Taibbi
Government
Spend
Work
Short
Scrambling
Long
Plans
Agencies
Make
Instead
Budgets
Impossible
Sensible
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Agency
Makes
Leaves
Money
Failure
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The party in power almost always unapologetically engages in deficit spending, while the other party argues passionately against the evils of debt and deficits.
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It's really interesting that we've had this great Tea Party movement that is all about restoring free market capitalist values, but what they completely fail to understand is that what we've got now is a situation where there is a small class of gigantic financial companies that have put themselves above capitalism.
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People are beginning to become disturbingly comfortable with a kind of official hypocrisy. Bizarrely, for instance, we've become numb to the idea that rights aren't absolute but are enjoyed on a kind of sliding scale.
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At root, the Tea Party is nothing more than a them-versus-us thing.
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The basic scam in the Internet age is pretty easy even for the financially illiterate to grasp. It was as if banks like Goldman were wrapping ribbons around watermelons, tossing them out fiftieth-story windows, and opening the phones for bids. In this game you were a winner only if you took your money out before the melon hit the pavement.
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Within the cult of Wall Street that forged Mitt Romney, making money justifies any behavior, no matter how venal.
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The moral angle to the foreclosure crisis - and, of course, in capitalism we're not supposed to be concerned with the moral stuff, but let's mention it anyway - shows a culture that is slowly giving in to a futuristic nightmare ideology of computerized greed and unchecked financial violence.
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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.
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It's not a stretch to say the whole financial industry revolves around the compass point of the absolutely safe AAA rating. But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.
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In the old days, when you took out a mortgage, it was probably through a local bank or a credit union, and whoever gave you your loan held on to it for life. If you lost your job or got too sick to work and suddenly had trouble making your payments, you could call a human being and work things out.
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The Congressional Record will forever show that [Obamacare] was passed in a romper room of overgrown children seemingly barely old enough to keep from peeing on themselves.
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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.
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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.
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