A Quote by Matt Taibbi
The basic scam in the Internet age is pretty easy even for the financially illiterate to grasp. It was as if banks like Goldman were wrapping ribbons around watermelons, tossing them out fiftieth-story windows, and opening the phones for bids. In this game you were a winner only if you took your money out before the melon hit the pavement.
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Before the 1970s, banks were banks. They did what banks were supposed to do in a state capitalist economy: they took unused funds from your bank account, for example, and transferred them to some potentially useful purpose like helping a family buy a home or send a kid to college.
Titled players appeared to be trotting out game after game in which the same old hoary opening sequences, memorized out to fifteen, twenty, or even more moves, were repeated endlessly. True novelties were becoming scarcer, and sometimes these 'opening' novelties didn't appear until well into the middlegame. (A master-level friend once proudly showed me a novelty he'd discovered at move twenty-seven of a very well-trodden chess opening, and it's said that even as far back as the 1950's Mikhail Botvinnik had some openings memorised past the thirtieth move).
How did the economy produce all these amazing things that we have around us - computers and cell phones and so on? There were a bunch of ideas, and the good ones grew and prospered. And the bad ones were pretty ruthlessly weeded out.
Banks were once places to hold money and were very careful in lending to finance families as they built a future - bought homes, bought cars, took out student loans.
I was lucky I survived the motorcycle accident because I - bike went under the car. I flew out about 20 or 25 feet. I didn't have a helmet on. I hit my head on the pavement and knocked myself out, gave myself a brain concussion, screwed up my left leg. And I was - I was lucky then that I didn't get killed because I didn't have any protective clothing on whatsoever. And I took a pretty good beating. But, yeah, such was the nature of the day when the barber was called and Samson's locks were trimmed.
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
And now I was seeing that there was something really cool about that family. All of them. They were just...real. And who were we? There was something spinning wickedly out of control inside this house. It was like seeing inside the Baker's world had opened up windows into our own, and the view was not a pretty one. Where had all this stuff come from? And why hadn't I ever seen it before.
A while back there was this fad where a big star [would get] a producing credit and you'd ask around, and people were like, "No, they didn't produce, they just took the credit." I was flabbergasted. So when I started, people were weirded out by the fact that I was like, "How long is our prep? I'll come a week before that." They were like, "We're not shooting for six weeks."
When I would work freelance in production in Chicago, there were a lot of times when I was working for cheap, bad people, and I was working for slave wages anyway, so there were some times when I might have filled out a couple of blank taxi receipts and kept some petty cash. But like I say, I was very selective. It was only people that I thought were assholes. The people that I liked I went far and above saving them money, much less taking it. But that's it. I'm pretty moral. I don't even like stealing jokes.
What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.
One thing I can take credit for, along with the rest of show business, is when the red ribbons were out, we cured AIDS. Any advancements that came towards fighting AIDS were not done by scientists or doctors - it was people with little ribbons on their lapels.
When I was your age, we didn't have the Internet in our pants. We didn't even have the Internet not in our pants. That's how bad it was. I know I sound like my grandfather right now. We didn't have teeth! There were no questions marks, we just had words! What was I talking about? The Internet...Not only can you not plan the impact you're going to have, you often won't recognize it when you're having it.
The ideas of Freud were popularized by people who only imperfectly understood them, who were incapable of the great effort required to grasp them in their relationship to larger truths, and who therefore assigned to them a prominence out of all proportion to their true importance.
Even in Los Angeles, where we lived, when we would date somebody or go out with them, if we went out with somebody else the next night, we often found that women were banging on our windows while we were bedded down with other women!
You lock your windows before you leave. You put on an alarm if you live in the country because you know that there are bad people out there. Well, in this Internet age, you know that there are bad people out there. And no matter what you do, those bad people are going to get into your house.
I was brought up in a very open, rural countryside in the middle of nowhere. There were no cell phones. If your lights went out, you were lit by candlelight for a good four days before they can get to you. And so, my imagination was crazy.
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