The federal rescue of Wall Street didn’t fix the economy

[scootrd]

Great read

The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme.
..........And the worst may be yet to come

Read more: http://www.rollingstone.com/politics/news/secret-and-lies-of-the-bailout-20130104#ixzz2Hb5yNsNH

[garbhead]

I have been reading Matt Taibbi for quite a few years and think he is one of the best (if not the only) investigative journalists in the country.

[Conan The Librarian]

I don't think political intervention is supposed to fix anything. It's all about perpetuating a crisis and maintaining an excuse for continued meddling. In the case of wall street, it was all about making sure that some cronies got rich at the country's expense. It's as simple as that.

[lakota]

An action taken by the federal government failed to fix something? I am shocked to say the least!

[Conan The Librarian]

The have top men working on it. Top men.

[ChungDoQuan]

The bailout was not supposed to fix the economy; it was just to fix Wall Street... temporarily. It does show the corporatist pseudo-capitalism, though: private gains and public losses. Taibbi is a great investigative reporter--- his reporting of the facts certainly hurt Rmoney and the rightys in the last election, though.