Matt Taibbi: Why this bailout is worse than 2008

Matt Taibbi: Why this bailout is worse than 2008





Author and reporter Matt Taibbi explains how corporate America will over-indulge on its piece of the $2 trillion dollar bailout package, thus creating another financial catastrophe.

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50 Comments

  1. Why are so menny people in US vote against their own interest believing they can make the American dream and that the current rigged economic system is the greatest? The filthy 🤑 0.01% are slowly killing you all and it's time to wake up and fight for your life!!

  2. So, we dont need Matt LalaLeeLee to tell us that. Even a common man on the street knowns that – To keep a terminally sick failing system, one has to inject more and more money. Blood to the zombie. Till there is no system or zombie left standing. Yet Naomi Kline and many academics before her, pointed out Shock Capitalism and Profit Over People. What sir Mat does not say or speak about, is the real problem. There's no more resources left out there or back home to bail out with. Game over. Go Home Leftist RightWing Zombies and start partying. the last 10 years is here !

  3. They just have us divided with left right and social issues and distracted with the trump show, celebrity culture and entertainement.
    It’s not left right black white it’s all about rich vs poor, but they have tricked us into worshipping billionaires and making them richer by spending all our money with their companies.
    The Panama papers came out and nobody even cared.
    It’s information overload it’s too many issues and a bunch of small groups that care about particular ones, we all need to get together and realize the media is mostly all political theater, democrats and republicans are both on the same side of getting rich and getting their buddies rich. Private campaign donations you can’t get elected without big money behind you and when you get elected those people or corporations expect things in return, then they have lobbyists bribing politicians, the top 1% have rigged the system and got us fighting with eachother so we just let them ruin our monetary system.
    We should not worship billionaires who have rigged the system and don’t pay taxes, we shouldn’t support corporations that use modern day slavery in other countries, and we should realize the media doesn’t work for the common man they work for advertisers. Stop watching mainstream media and use truly unbiased media who remind that the left right trump show is what keeps us distracted from real change.
    The last American vagabond website and podcast is good and the best media you can consume is the congressional dish podcast with Jen briney, she reads the bills and explains them, once you listen to that podcast for a while you realize who they are all working for. We focus on what politicians “say” and don’t pay any attention to what they do. And we don’t understand the federal reserve and the monetary system, we are trillions in debt.
    Stop worshipping billionaires who stand by while people suffer around the world, stop supporting corporations that use slave labor.
    And ask yourself would anything really be different if obama or Hillary was president? Obama did the bailout in 2008 and now trump Did another one but the president doesn’t control everything so blaming them for everything is silly.
    Be honest with yourself about how honest your research is, half people watch cnn the others watch fox and they just repeat what they hear without questioning it. We trust that what is on the news is most important, just because a story is being pushed doesn’t mean it’s most important. We let media decide what we should care about. They have manipulated our psychology, pick a side and root and never admit your side could be wrong. Everyone is addicted to sharing their opinion that isn’t based on any honest research. And a lot of people just form their opinion from what their favorite celebrity says.
    Nothing will get better until people can stop judging others and truly understand that if they were someone else, born when and where they were, raised like them, had their experiences, their environment, looked like them and had their genetics, then you would be just like them, think like them, act like them, make same choices, believe what they believe, and say what they say. Life makes people how they are so be open minded and stop hating instead understand and resist the temptation to feel like you’re on the right side and recognize that we have been manipulated.

  4. ✨🇺🇸You may just wake up long enough from pangs Of Social & Physical Starvations to Reality for a brief second to Know you’ve been Beguiled to Bondages 📲Bamboozled 🇺🇸Generations 💥For all you earned and once Owned, Remember Freedom & Liberty are beyond price & not another second will All your money 💵 buy Knowing the Price Of Everything & the Cost Of Nothing ⚡️🦠⚡️

  5. When the best-case scenario is total economic collapse (the worst-case being extinction) does the bailout actually have any real significance? It’s like putting a Band-Aid on a decapitated corpse and complaining you put it on the head instead of the body.

  6. US has no choice but to take a page out of China's socialist/capitalist playbook and directly subsidize its financial/corporate sector not only to try and keep pace with China but to also keep its economy from grinding to a halt

  7. Can someone explain please what he said towards the very end of the video, something in reference to money disappearing from the economy as a result of stock buybacks (as I understood it)? Why does money disappear from the economy due to stock buybacks? Doesn't the money go back to shareholders?

  8. So we are bailing out a lot of the same corporations that received our tax dollars last time. This crash is supposed to annihilate them, leaving the strongest, smartest and more PRUDENT corporations standing. The cream is supposed to rise to the top. At least, in a capitalist society that is…

  9. Matt is one of my most trusted journalists…

    He knows so much, sees and explains so clearly, with no political bias.

    Truth, these days, is subjective… and folks like Matt are BS cleaners…

  10. Firstly, could you make your voices juuuust a bit more nasally that'd be greeeeat.

    Secondly, you do realise that corporations employ billions of people worldwide right? So if they're not bailed out first then billions will be out of work and there'll be civil wars everywhere and billions will die. Sure there'll be some pilfering, that unavoidable, but considering the alternative i think we'll be okay.

    It seems to me you clowns are just trying to make matters worse by pointing the finger at corporations instead of explaining why it has to be that way and the consequences if they don't.

  11. I admire Mr. Taibbi's writing style. His skilled use of hyperbole and comic exaggeration are entertaining, which serves to make the disturbing facts and truth about the ongoing Wall St. financial malfeasance he reports upon a little more palatable, or at least less bitter to swallow. If you want to know how this is affecting the ordinary people on the ground who are desperately struggling though, you should ask them directly. Mr. Taibbi's answer to that question only touches on the impact, then he veers off into a jargon filled description of the monetary manipulation taking place in the financial markets. No criticism is intended towards him, everything he said is not only true, but I'm willing to bet he would admit that it's even worse than he describes, and that if anything he is understating the reality of it. My point is that the focus is in the wrong place. Main St. and the people on the ground are now and have been in dire circumstances since the pandemic. Their numbers are growing rapidly, they will continue to grow and their circumstances will become more desperate. I find it hard to imagine that we'll all sit still and tolerate it the way we have so far.

  12. Sorry to say it in this way, but those who supported Bernie on the web and failed him on the ballot should blame themselves for this. Twice you betrayed him. This was his last shot in the elections, and your best chance to really change American economy back to freedom and prosperity. Now Trump wins again. Wall Street wins again. The FED wins again, with your money. Congratulations.

  13. All you have to do is look at the stock market and see that it is heading up towards the highs at a time when people are getting nothing. The government is setting things up for a "monetary system change" which includes a cashless system. Just wait.

  14. Congress doesn't understand what their doing? And you are trying to make independent journalism work? Forbearance payments? ( POOR Steve isn't on rebo-signing duty this time around?) CHA CHING.

  15. Yes part of the problem is corporate greed, but the way true capitalism works is that they go bust. Problem now is that the Fed is backstopping that mechanism so you will get an endless repeat of the history until hyperinflation destroys the currency because of all the bailouts.

  16. There is a huge difference between the 2008 bail out and the current stimulation plan. For instance, $1T per year of new money is now flowing in from foreign countries and their governments into the Treasury. In 2008, the storyline was " the banks are too big to fail." A very big difference practically speaking.

  17. Don't worry…if you and your spouse work two jobs each and you convince your kids to either go into a trade or commute to a state college you can work to about 70 and then have a roof over your head and some soup for dinner until you die, if working two jobs all your life hasn't killed you by then.

  18. "See guys, Obama bailed out the big banks that caused the crisis and loved to order drone strikes on brown children, but he was like a cool talking Morgan Freeman kind of guy so I like him a lot, and Trump gave money back to the people who needed it, so really what we need to remember is ORANGE MAN BAD"

  19. I'm not particularly financially literate but I'm catching on. Corporations and banks can get loans with basically no interest then use the money to buy back their own stock, or in the case of banks to buy government bonds, then turn around and repay the loan and keep the difference. Sort of like my cousin lending me $1,000,000.00 for a year interest free and I put the money into a bank CD for the year then repay my cousin and keep the interest.
    Beats the Hell out of having to work for a living.

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