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Quote by Matt Taibbi

“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.”

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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“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.”

“It's not a stretch to say the whole financial industry revolves around the compass point of the absolutely safe AAA rating. But the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for.”

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“It's really interesting that we've had this great Tea Party movement that is all about restoring free market capitalist values, but what they completely fail to understand is that what we've got now is a situation where there is a small class of gigantic financial companies that have put themselves above capitalism.”

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“Mike Huckabee represents something that is either tremendously encouraging or deeply disturbing, depending on your point of view: a marriage of Christian fundamentalism with economic populism.”

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“Obviously, people who commit crimes should be punished. Even people who steal socks and 'Snow White' videos should probably do time if they have priors, especially serious priors. But the punishment has to fit the crime, and the standard has to be the same for everyone.”

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“Over the years, many in the public have become numb to news of financial corruption, partly because too many of these stories involve banker-on-banker crime.”

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