“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.”
Matthias Wivel is the administrator of the Metabunker. He is the Curator of Sixteenth-Century Italian Paintings at The National Gallery in London and a co-founder and the current chairman of the Danish Comics Council.
