Longread #111 -- The Scam Wall Street Learned from the Mafia -- 7/11/12

Sometimes it feels like I'm being redundant when posting articles about economic crimes committed by major players in the financial industry. Frankly, I would love to stop posting exposes like this, but as long as these flagrant violations of the law and human decency continue, I feel a need to draw as much attention to them as possible. In this longread, Matt Taibbi documents how Wall Street firms deliberately manipulated auctions on municipal bonds with the effect of stealing billions of dollars from the public sector over the past several years. With virtually every municipality struggling to make ends meet and cutting important public services to close budget shortfalls, this kind of white-collar crime is just sickening.

"The Scam Wall Street Learned from the Mafia" by Matt Taibbi
Published in Rolling Stone, June 21, 2012
http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620

Eric