Tuesday, April 8, 2014

The Divide

Not that Matt Taibbi needs me to shill for him, but his new book "The Divide: American Injustice in the Age of the Wealth Gap" is out and sharply summarizes his years of investigating the financial crimes of the elite in this country. Tour de Force gets thrown around a lot these days, but this book is definitely one.

Below is an interview Taibbi did with Jon Stewart on last night's "Daily Show" wherein he lays out, among other hypocrisies, the absurdity of the logic behind the infamous "Holder Memo" which said you can't prosecute corporations for criminal wrong doing because it might hurt their stock prices and other people's feelings who work in the company. Or something. Holder wrote it in 1999 when he was a low-level federal prosecutor, but later would make it Justice Department policy when dealing with the financial rip off, er crisis, of 2008.

Also, I thought Taibbi's assertion that "moral hazard" is only something that applies to individuals, not to corporations or their shareholders, was dead on. His "those people aren't appropriate for jail" comment is an exact summary of everything I and others have been pounding our fists about for more than five years.

Click here to watch and get his new book asap.

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