B12 Solipsism

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The Finacial Press vs. Matt Taibbi

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Really a trinity, the financial press, their client, Goldman Sachs, and their new enemy Matt Taibi

Mainstream financial journalism is doing its level, eye-rolling, heavy-sighing best to stuff Matt Taibbi back into the alt-press hole he came from, but he’s not going along with it, and the mainstreamers in any case are making a big mistake.

The Rolling Stone writer cemented his status as the enfant terrible of the business press with “The Great American Bubble Machine,” a 10,000-word excoriation of Goldman Sachs, a muckraker’s-eye view of Goldman history, exploring the bank’s and Wall Street’s contributions to various financial disasters, starting with the Great Depression, skipping to the Tech Wreck, the Mortgage Wreck, the oil bubble of 2008, the bailout, and the looming cap-and-trade plan. Salted with “fuck”s, “shit”s and written with brio and hyperbole in the New Journalism tradition, it caught the financial community, which very much includes the financial media, utterly off-guard, unused as it is to hearing its flagship described as a “giant vampire squid wrapped around the face of humanity.”

[Click to continue reading Don’t Dismiss Taibbi : CJR]

Well worth reading to see what exactly all the over-paid pundits say in their defense of Goldman.

Written by Seth Anderson

August 9th, 2009 at 1:30 pm

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