MB Civic

For anyone whose head starts to spin when you hear the words “credit default swap”, you gotta read this! .. Taibbi in his latest Rolling Stone piece lays out the whole sordid history of the deregulated financial feeding frenzy of the past 10 years in an easy to understand indictment of AIG, Goldman Sachs, Geithner, Joseph Cassano, the “Morgan Mafia” and all the rest … imho the definitive article on AIG, a MUST READ .. here’s a little: “Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country’s heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire” – read more