15 December 2009

Rolling Stone/Matt Taibbi: Obama sold out to Wall Street

“There’s no other way to say it: Barack Obama, a once-in-a-generation political talent whose graceful conquest of America’s racial dragons en route to the White House inspired the entire world, has for some reason allowed his presidency to be hijacked by sniveling, low-rent shitheads.”

After being elected, Obama basically gave everyone from his “change” campaign dead end jobs. All the important posts went to insiders from the same financial giants, that through “bailout” laws now have been granted free money every time and no matter how badly they fuck up themselves and the system.

If you’re not easily tricked into reading longer articles, have a look at the video summary. Taibbi‘s recent writing is highly recommended reading, his style is very readable and entertaining but maintains a striking contrast to the usual correct, bullshit-plagued financial and political reporting.

[via:No Agenda]

27 October 2009

Wall Street on the Tundra

The author explores the nature of Iceland and its financial crisis through the nation’s alpha male fisher attitudes, dangerous optimism, over-educated arrogance and… belief in elves. I laughed repeatedly.

18 October 2009

Wall Street’s Naked Swindle

“We’re in a place we haven’t been since the Depression: Our economy is so completely fucked, the rich are running out of things to steal.”

In his article, Matt Taibbi explains, in great detail, how naked short selling has been used to manipulate the markets into killing investment banks. Unless you’re already an expert on how the stock market works, start by watching this accompanying short explanation of short selling.

Based on a pattern of linkage deserving articles in Rolling Stone, I’ll try to follow Taibbi‘s writings carefully in the future.

[via:Thomas N.]

27 August 2009

Details on the arrest of Sergey Aleynikov, former developer of Goldman Sachs’ high speed trading software

[via:No Agenda]

10 August 2009

Global market to be increasingly automated by computers trading against one another for millisecond profits

“Yay, let’s build a big ass hall of servers to help us play Economy”

[via:Waxy]

7 July 2009

The Great American Bubble Machine

Controversial article on Goldman Sachs’ role as a market manipulator since the Great Depression.

1 November 2008

Idolatrous Socialism from Space: Jesus people prayed for “God’s economy” at statue of bull on Wall Street

October 29 2008 was apparently “The Day of Prayer for the World’s Economies”. WTF:

“We are going to intercede at the site of the statue of the bull on Wall Street to ask God to begin a shift from the bull and bear markets to what we feel will be the ‘Lion’s Market,’ or God’s control over the economic systems.”

See also: more photos from the prayer, a video, The Charging Bull statue

[via:Pharyngula]

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