Tag Archives: Matt Taibbi

Matt Taibbi – Ex-Morgan Stanley Chief Jams Foot In Mouth, Complains Of CEO Abuse – 14 February 2014

154px-Matt_TaibbiThere’s a ton of interesting stuff going on in the Wall Street sphere of late – I’m trying to find some time to do a proper write-up of the extraordinary lawsuit just filed by the Better Markets advocacy group against Eric Holder’s Justice Department, seeking to invalidate the $13 billion JP Morgan Chase settlement – but one particular thing happened this week that just can’t go by without comment.

Read the whole article at: www.rollingstone.com / link to original article

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Matt Taibbi – Bailout Architect Runs For California Governor; World Laughs – 27 January 2014

154px-Matt_TaibbiI want to apologize for this space being blank for quite some time. I actually spent the bulk of the last two days on a long blog post about the “Dr. V.” story in Grantland. But then I got all the way to the end, and realized I was completely wrong about the entire thing.

So, I spiked my own piece. Now I’ve been in Talk Radio-style “This is totally dead air, Barry” territory for about two weeks. I could swear I saw a cobweb when I logged on this morning.

So thank God for Neel Kashkari, and the news that this goofball footnote caricature of the bailout era has decided to run for Governor of California. Never in history has there been an easier subject for a blog post.

Matt Taibbi – On Christmas, Republicans Quietly Declare War On Themselves – 31 December 2013

154px-Matt_TaibbiThe holidays are a great time in politics. Every year it’s the same: the minute the last bits of wrapping paper have been cleared away, and Grandpa has passed his last puff of holiday gas, you can always retreat to the inside pages of the news section and find some embarrassing/despicable PR fiasco that some politician somewhere has just tried to sneak past vacationing America.

Matt Taibbi – Lurid Subprime Scams Unveiled In Long-Running Fraud Trial – 13 December 2013

154px-Matt_TaibbiLost amid the hoopla over JP Morgan Chase’s record-setting $13 billion settlement this fall was news of another monster court resolution – a $2.46 billion judgment, the largest ever awarded after trial in a securities fraud class action case, handed down in October against a HSBC acquisition called Household International.

It’s an old case, with the trial completed way back in 2009 and the fraud in question having all taken place between 1997 and 2002. But it has crucial ramifications for the present, for one key reason:

Matt Taibbi – Another Batch Of Wall Street Villains Freed On Technicality – 9 December 2013

154px-Matt_TaibbiI love covering trials, which is one reason I’ve been a little sad since switching over to the Wall Street beat: Few of the bad guys in this world ever even get interviewed by the authorities, much less indicted, so trials are comically rare.

But we did have one last year, a big one, and though it was boring and jargon-laden enough on the surface that at least one juror fought sleep in its opening days, I thought it was fascinating. In a story about the Justice Department’s Spring 2012 prosecution of a wide-raging municipal bond bid-rigging case, I called it the “first trial of the modern American mafia”:  ……

Read the whole story at:www.rollingstone.com / link to original article

Matt Taibbi – Chase’s Twitter Gambit Devolves Into All-Time PR Fiasco – 16 November 2013

I almost couldn’t believe it when I heard that JP Morgan Chase was going to do a live Twitter Q&A with the public – you know, all those people around the world they’ve been bending over and robbing for, oh, the last decade or so. On the all-time list of public relations screw-ups, it’s hard to say where this decision by America’s most hated commercial bank (with apologies to Bank of America, which probably finishes a 49ers-like very close second this year) to engage the enraged public on Twitter ranks. For sure, anyway, it’s right up there with Abercrombie and Fitch’s rollout of thong underwear for 10 year-olds and the $440,000 afterparty AIG executives threw for themselves at the St. Regis Resort in Monarch Beach, California after securing a federal bailout.

Matt Taibbi – Chase Isn’t The Only Bank In Trouble – 8 November 2013

154px-Matt_TaibbiI’ve been away for weeks now on a non-financial assignment (we have something unusual coming out in Rolling Stone in a few weeks) so I’ve fallen behind on some crazy developments on Wall Street. There are multiple scandals blowing up right now, including a whole set of ominous legal cases that could result in punishments so extreme that they might significantly alter the long-term future of the financial services sector.

As one friend of mine put it, “Whatever those morons put aside for settlements, they’d better double it.”