Matt Taibbi on the rise, fall and rescue of Wall Street

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Matt Taibbi discusses his book “Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America“, the stunning rise, fall and rescue of Wall Street in the bubble-and-bailout era and the inner workings of politics and finance in America.

Source: YouTube.com, February 11, 2011 (hat tip: Financial Doom Blog)

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2 comments to Matt Taibbi on the rise, fall and rescue of Wall Street

  • trader

    Matt’s whole concept is based on FALSE information! As a futures trader for over 40 years I can absolutely assure you that his statement that ALL futures investment is LONG is FALSE! By definition, it takes a LONG and a SHORT to create a futures contract, period! For every buyer, there is a seller! For every seller, there is a buyer! If his basic understanding of the futures or commodity market is false, what else is there to say? This guy doesn’t have a clue as to what he is talking about.

  • trader

    Matt’s basic understanding of the commodity futures market is totally incorrect, period! His statement the all money in commodities is LONG money, is NOT true! By definition, it takes a LONG and a SHORT to even create a futures contract! Therefore, since he is incorrect in his basic premise, there is aboslutely no sense in listening to the rest of his presentation. Guess his Saudi source misled or misunderstood.

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