Seven Deadly Skims

Posted by on February 19th 2010 in Bailout, Federal Reserve, General Economy, Wall Street | Be the first to comment!

In breaking down “Wall Street’s Bailout Hustle” into seven classic con artist schemes, Matt Taibbi observes that,

“Instead of liquidating and prosecuting the insolvent institutions that took us all down with them in a giant Ponzi scheme, we have showered them with money and guarantees and all sorts of other enabling gestures. And what should really freak everyone out is the fact that Wall Street immediately started skimming off its own rescue money.”

And, look who’s lampooning fiat currency as “Meaningless pieces of paper with numbers printed on them.”


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