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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.
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
Arguing
Debt
Spending
Argues
Almost
Deficits
Party
Engages
Evil
Passionately
Power
Evils
Always
Deficit
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I think that if you're a thinking person you should always be trying to learn something new.
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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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What we have now is a situation where politicians get a whole bunch of money from mainly business interests. Then once they hold that office, they spend all their time in office paying back over and over again those campaign contributions through various favors and contracts and that sort of thing.
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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.
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Capitalism is a system for determining objective value.
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Comparing your family budget to the sovereign debt of the United States is a little like comparing two kindergartners tossing a paper airplane to the Apollo 11 mission.
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There are times when American politics seems like little more than two groups in a fever to prevent each other from trespassing upon their respective soothing versions of unreality
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One of the great cliches of campaign journalism is the notion that American elections have long since ceased to be about issues and ideas.
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America is a country that has been skating for ages on its unparalleled ability to look marvelous on the outside.
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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.
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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.
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Greenspan's eventual explanation for the growing gap between stock prices and actual productivity was that, fortuitously, the laws of nature had changed -- humanity had reached a happy stage of history where bullshit could be used as rocket fuel.
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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.
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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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George Bush and John Ashcroft were religious in a scary way, but the rational among us could always take heart that, deep down, the Bush administration was more cynical than messianic.
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This idea that you can't be an honest man and a Washington politician is a myth, a crock made up by sellouts and careerist hacks who don't stand for anything and are impatient with people who do. It's possible to do this job with honor and dignity.
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Unquestionably, however, something else is at work, something that cuts deeper into the American psyche. We have a profound hatred of the weak and the poor, and a corresponding groveling terror before the rich and successful, and we're building a bureaucracy to match those feelings.
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There is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power.
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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.
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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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