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Looting Main Street

Toshi

butthole powerwashing evangelist
Oct 23, 2001
40,228
9,113
http://www.rollingstone.com/politics/story/32906678/looting_main_street

6 pages. Read 'em all and weep.

If you want to know what life in the Third World is like, just ask Lisa Pack, an administrative assistant who works in the roads and transportation department in Jefferson County, Alabama. Pack got rudely introduced to life in post-crisis America last August, when word came down that she and 1,000 of her fellow public employees would have to take a little unpaid vacation for a while. The county, it turned out, was more than $5 billion in debt — meaning that courthouses, jails and sheriff's precincts had to be closed so that Wall Street banks could be paid.

… What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human **** into billions of dollars of profit for Wall Street — and misery for people like Lisa Pack
 

Pesqueeb

bicycle in airplane hangar
Feb 2, 2007
42,370
19,896
Riding past the morgue.
Matt Taibbi has been on a roll lately. His articles on the financial crisis have been mind blowing, at least to me. Their have been at least half a dozen in RS in the last year and every single one of them pisses me right the fvck off.
 

Silver

find me a tampon
Jul 20, 2002
10,840
1
Orange County, CA
As the tapes of LeCroy's calls show, even officials at JP Morgan were incredulous at the money being funneled to Blount. "How does he get 15 percent?" one associate at the bank asks LeCroy. "For doing what? For not messing with us?"

You know it's bad when a corrupt and immoral crook thinks you're going too far.

(Because it's not the blatant corruption that is shocking the JP Morgan guy, it's the fact that some hick in Alabama is demanding a cut that reduces his own take.)

On the plus side, I don't have to ask myself, "What would a sociopathic Randian asshole like The Joker think about this story?" It's right there for easy reading.

Like the one guy in the bunker with Hitler, who over drinks goes, "Adolf, ever wonder if we maybe we took the Jew thing a little too far?"
 
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stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
22,023
7,928
Colorado
This sounds a lot like what I was talking about 2+ years ago, when people told me to stop hanging out with Ranger Rick...