'The Big Short' By Michael Lewis
Probably The 'Best Piece Of Financial Journalism Ever Written'— Felix Salmon
Even if you have no intention of reading this important book by this brilliant writer, see the video of Michael Lewis appearing on the Daily Show with Jon Stewart below. See it, and then get angry about this shit. Because if you don't, they're going to do it again. And soon.
Appearances by Michael Lewis
Rob Johnson, from Roosevelt Institute, says the 300 TRILLION dollar derivatives bomb hasn't even begun to detonate yet. Few people have this much knowledge of this complex and dangerous issue as Johnson. He was working for George Soros before the meltdown, and claims they all saw it coming and steered clear of them. True or not, he has the knowledge of how it all works, and his tale is harrowing.
See the VIDEO, and read the general article about the overall context. Then pick up your phone and call Senator Dodd and tell that retiring corporatist to JUST FIX THIS!
Finance Superstars Talk About the Massive Fraud in Our Economic System | Economy | AlterNet
Rob Johnson of the Roosevelt Institute was the last speaker and talked about the final arbitrage, which is "too big to fail." It is the arbitrage of the republic by looters who have created a system so rife with fraud that it brought down the American economy, throwing millions out of work, paying the very perpetrators trillions of dollars and counting. These very same people bought and sold our elected officials so often in the past several decades, that today DC might very well be deemed the one functional market. You actually get what you pay for. (Alternet)
Click along the progress slider to get to where his segment starts. That's roughly 1:51:30