“You’ve heard of Too Big to Fail — the foreclosure crisis is Too Big for Fraud. Think of the Bernie Madoff scam, only replicated tens of thousands of times over, infecting every corner of the financial universe. The underlying crime is so pervasive, we simply can’t admit to it — and so we are working feverishly to rubber-stamp the problem away, in sordid little backrooms in cities like Jacksonville, behind doors that shouldn’t be, but often are, closed.”

— Matt Taibbi

  • Matt Taibbi on the foreclosure crisis. Reporting for Rolling Stone from Florida, Taibbi investigates the system’s way of dealing with a problem that has grown too large to acknowledge.
  • John Cassidy asks “What Good Is Wall Street?” Fairly lucid and readable New Yorker-survey of the services banks provide the international community and why large parts of their actitivites today are entirely superfluous and put the same community at risk.
  • Slavoj Žižek reviews Richard McGregor’s The Party, about China’s Communist Party, and relays not only some of McGregor’s fascinating insights into how China’s political system works, but also his own always idiosyncratic but provocative perspective: “China is barely under control. It threatens to explode.”
  • Good comics pieces. Dan Nadel writes on Jack Kirby in the 70s for Vice Magazine and provides as good a short introduction to the King’s work as I’ve seen in a while, while Matt Seneca continues his ongoing reevaluation of the work of Jim Steranko in conversation with Sean Witzke.