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Quote by Matt Taibbi

“Creating legislation is a tough process. But watering down legislation? Strangling it with lawsuits and comment letters and blue-ribbon committees? Not so tough, it turns out.”

Quote by Matt Taibbi

Author

Matt Taibbi is an American author known for his critical reporting on the financial industry. His work often exposes corruption and injustice within the financial sector and is widely recognized for his sharp commentary. more

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“Criminal justice, as it pertains to the Goldmans and Morgan Stanleys of the world, is not adversarial combat, with cops and crooks duking it out in interrogation rooms and courthouses. Instead, it's a cocktail party between friends and colleagues who from month to month and year to year are constantly switching sides and trading hats.”

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“For the broadcast business to be successful, viewers need to be not merely interested in our political melodramas, they have to be in an absolute state about them - emotionally invested in the outcome and frightened not to watch what happens next.”

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“George Bush and John Ashcroft were religious in a scary way, but the rational among us could always take heart that, deep down, the Bush administration was more cynical than messianic.”

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“I didn't know Michael Hastings very well, but one thing about him was always obvious - he was born to be in the news business, he loved it, he was made for it. He wrote about Iraq and Afghanistan as places he had always been destined to visit.”

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“If anything, the bailouts actually hindered lending, as banks became more like house pets that grow fat and lazy on two guaranteed meals a day than wild animals that have to go out into the jungle and hunt for opportunities in order to eat.”

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“In a pure capitalist system, an institution as moronic and corrupt as Bank of America would be swiftly punished by the market - the executives would get to loot their own firms once, then they'd be looking for jobs again.”

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“In modern American politics, being the right kind of ignorant and entertainingly crazy is like having a big right hand in boxing; you've always got a puncher's chance.”

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“In other countries they have histories with revolutions and class movements. In America, people don't like to think of themselves like being in a lower class. They all like to think of themselves as potential millionaires.”

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“In the '50s and '60s, journalism wasn't a profession. It wasn't something you went to college for - it was really more of a trade. You had a lot of guys who came up working in newspapers at the copy desk, or delivery boys, and then they would somehow become reporters afterward and learn on the job.”

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“Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.”