Tag Archives: financial crisis

Required Reading

22 Aug

There were two articles written in the past 14 days which should be required reading for anyone who wants to have an honest discussion about “financial reform” as proposed by President Obama and passed by Congress or about Park51, aka the “Ground Zero Mosque”.

Matt Taibbi of Rolling Stone has provided some of the best analysis and coverage of the financial reform bill and the epic collapse of our financial system in 2008.  He writes in an accessible and biting way that simplifies the issue without dumbing it down.  For instance, his article from April titled, “The Great American Bubble Machine” is required reading for understanding the financial crisis.

The former Buffalo resident and the original editor of the once great Buffalo Beast, has written an article which should have every Obama supporter crying into their Hope T-shirts.

Over a long year of feverish lobbying and brutally intense backroom negotiations, a group of D.C. insiders fought over a single question: Just how much of the truth about the financial crisis should we share with the public? Do we admit that control over the economy in the past dec­ade was ceded to a small group of rapacious criminals who to this day are engaged in a mind-­numbing campaign of theft on a global scale? Or do we pretend that, minus a few bumps in the road that have mostly been smoothed out, the clean-hands capitalism of Adam Smith still rules the day in America? In other words, do people need to know the real version, in all its majestic whorebotchery, or can we get away with some bullshit cover story?

In passing Dodd-Frank, they went with the cover story.

The involvement of the Obama Administration in the construction of that cover story narrative is depressing.

As for the issue of the Park51 story that has become the central Republican created bullshit distraction issue of the election season, Frank Rich of the New York Times pretty much shuts down the dummies with this brilliant Op-Ed.

So virulent is the Islamophobic hysteria of the neocon and Fox News right — abetted by the useful idiocy of the Anti-Defamation League, Harry Reid and other cowed Democrats — that it has also rendered Gen. David Petraeus’s last-ditch counterinsurgency strategy for fighting the war inoperative. How do you win Muslim hearts and minds in Kandahar when you are calling Muslims every filthy name in the book in New York?

Also, a couple of required viewing videos from the week that was…

Jon Stewart also destroys right wing talking points on Park51

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The following video is not political in any way, it’s just awesome.  Cee-Lo Green is back…if you’re at work or around kids, I suggest headphones.  The song is excellent, but profane.

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