Tuesday, April 12, 2011

Get the Real Poop!

I am changing my list of required financial publications so I will get the real poop!

By: Dorothy Littrell

No more Wall Street Journals for me!

Read this, from the Rolling Stone e-magazine, no less!
Read up!

Dorothy

10 comments:

Danny said...

Fabulous article, Dorothy.

And the beauty of it is, nothing has changed. The corruption that brought the system down is still fully in charge.

Gee, I wonder how that will end?

Biker Babe said...

a good one, this: ... "AIG and Joe Cassano, the nebbishy Patient Zero of the financial crisis. As chief of AIGFP, the firm's financial products subsidiary, Cassano repeatedly made public statements in 2007 claiming that his portfolio of mortgage derivatives would suffer "no dollar of loss" — an almost comically obvious misrepresentation. "God couldn't manage a $60 billion real estate portfolio without a single dollar of loss," says Turner, the agency's former chief accountant. "If the SEC can't make a disclosure case against AIG, then they might as well close up shop."

And then: ... "As for President Obama, ... Goldman Sachs was his number-one private campaign contributor. He put a Citigroup exec in charge of his economic transition team, and he named an exec of JP Morgan Chase, the proud owner of $7.7 million in Chase stock, his new chief of staff. "The betrayal that this represents by Obama to everybody is just — we're not ready to believe it," says Budde, a classmate of the president from their Columbia days. "He's really fucking us over like that? Really? That's really a JP Morgan guy, really?"

WE'RE DOOMED!

js
BB

Curmudgeon said...

Let me recommend the academy award winning documentary "Inside Job." If you like the article, you'll like "Inside Job."

Curmudgeon said...

Says something when the best investigative reporting is coming out of the alternative press, and a primarily music mag at that. [Well, not really, I guess. RS has been more than a music mag for a long long time.]

But it's still alternative press. But I shouldn't be surprised. Best investigative journalism in Utah these days comes most consistently from the Salt Lake City Weekly --- alternative press yet again.

Anonymous said...

Curmudgeon-

where do I find "Inside Job"?

Biker Babe said...

Netflix

or google it

:)

BB

Disgusted said...

This is not the first excellent article to appear in the Rolling Stone about the financial world. Can't remember if it was two or three years ago that they did a piece on Goldman that was spot on.

Dan S. said...

Reminds me of Envision Ogden.

foghat said...

Rolling Stone Magazine was the first magazine that I cut pictures out of, hanging them on my wall at my parents house.
I think it was a shot of Susan Dey, as Lauri Partridge, by Annie Leibovitz. ;>


When I was first learning to read, they had on the staff fine journalists such as Joe Klein, David Felton, Mick Stevens, Ben Fong-Torres, and Cynthia Bowman.

And was there one issue in the entire run that did not mention Bob Dylan?

Dan S. said...

Here's the NYT take on the same story:

In Financial Crisis, No Prosecutions of Top Figures

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