I tried to read Taibbi's article, but found it too sophisticated. I'm waiting till he dumbs it down to the level of People.
No but seriously. I like squid.
Tuesday, July 14, 2009
Matt Taibbi's Rolling Stone piece on GS
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1 comment:
Sir:
There's a huge perception gap between the public understanding of Wall Street and the industry's own narcissistic self-image. It doesn't matter whether Taibbi didn't precisely articulate the definition of a CDO or over reached his thesis about the great Wall Street conspiracy. The fact is that GS has established a standard of excellence in a very sick industry that flatlined last September. Leadership in the industry is faulty at best. And we all bought into it.
Here's a terrific example of this vicious feedback loop at work, also by Taibbi (well in advance of the GS article): http://tinyurl.com/kn73ep
Best regards,
Gialamas
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