The inimitable Matt Taibbi chronicles the systematic lying and secretiveness of the government’s bailout of the financial industry. In his estimation, we’ve been duped, and the huge problems of that sector have only gotten worse as a result. He writes:
To listen to the bankers and their allies in Washington tell it, you’d think the bailout was the best thing to hit the American economy since the invention of the assembly line. Not only did it prevent another Great Depression, we’ve been told, but the money has all been paid back, and the government even made a profit. No harm, no foul – right?
It was all a lie – one of the biggest and most elaborate falsehoods ever sold to the American people.
Read it, if you dare.