The Goodfellas of Wall Street "“America’s industrial economy — one in which companies compete not on price and quality but in political influence, and earn profits not by attracting customers with good service, but by using the power of the state to protect markets and force customers into the fold.” — Matt Taibbi, Griftopia You know the routine. Mobsters shake down, say, a restaurant owner. They drink all the booze and eat all they want and pay nothing. They rob the cash register. They even go out and borrow money against the place and spend it. When they’ve finally bled the thing dry and the business is about to collapse, they burn the place down and collect the insurance money. That’s pretty much what Goldman Sachs did to AIG. The taxpayer footed the bill."
Posted on: Sat, 07 Sep 2013 06:48:29 +0000
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