Michael Hudson (Department of Economics, University of Missouri, Kansas City, and author of The Bubble and Beyond): Shoveling money to the banks not meant to create jobs, it’s a way to give banks even more speculative capital and prepare them for another meltdown.
from Viewpoint with Eliot Spitzer (Current TV)
Matt Taibbi, contributing editor for Rolling Stone, talks about how the lack of any individual prosecutions relating to the 2008 financial crisis has emboldened Wall Street in this “Viewpoint” Web exclusive. Taibbi recently took Attorney General Eric Holder and the Department of Justice to task for failing to bring any cases against Goldman Sachs in a Rolling Stone piece.
The headline from this CNN story couldn’t fail to catch my attention:
Illinois: Our very own Greece?
Well, maybe it’s unfair to call it an attack, as things may be progressing to Greece-bad here. The story is worth a read, although not really new news to anyone in Illinois paying attention.
Here’s Dan Hynes responding to CNN for the article:
“We’re leveraging our future and that’s not the correct approach, but it was what was chosen out of a lot of bad options.”
One truly believable aspect of this quote is that there are no options you could technically define as good.
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