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.]