Obama’s Big Sellout: Matt Taibbi’s Latest Rolling Stone Piece
The term must-read gets thrown around a lot. I’m guilty of overusing it at times.
But I appreciated Obama’s Big Sellout so much, I bought a 2-year subscription to Rolling Stone right after reading it. That will bring the total number of magazines I subscribe to two.
Matt Taibbi’s latest is an important piece. It goes beyond partisan politics, pointing out how guilty both parties are. He lays out the web of connections between Wall Street and D.C.
He explains how they are responsible for past bubbles, and are in the process of blowing new ones. I’ll post the intro, but read the whole thing if you have time (and pass it along):
Barack Obama ran for president as a man of the people, standing up to Wall Street as the global economy melted down in that fateful fall of 2008. He pushed a tax plan to soak the rich, ripped NAFTA for hurting the middle class and tore into John McCain for supporting a bankruptcy bill that sided with wealthy bankers “at the expense of hardworking Americans.” Obama may not have run to the left of Samuel Gompers or Cesar Chavez, but it’s not like you saw him on the campaign trail flanked by bankers from Citigroup and Goldman Sachs. What inspired supporters who pushed him to his historic win was the sense that a genuine outsider was finally breaking into an exclusive club, that walls were being torn down, that things were, for lack of a better or more specific term, changing.
But then he got elected.
Read the rest here. A good piece to forward to die-hard Obama fans still clinging to Hope. Hey, I voted for the guy too. But it’s time to abandon ship. His administration is a complete disaster. It’s a continuation of rampant corruption and kick-the-can economics.
It would send a nice message if everybody bought a newsstand copy. Or a subscription to RS. Let them know we want more of this kind of reporting. Matt Taibbi’s last piece, The Great American Bubble Machine, woke millions up to Wall Street’s looting. If we don’t support the few groundbreaking outlets left, they’re all gonna go the way of Portfolio.
