Matt Taibbi vs Megan McArdle

Image via Wikipedia

Video heavy day today, but this is definitely worth watching. While I try to remain objective about opposing arguments regarding the financial meltdown, it is difficult to do so when the evidence weighs heavily on one side. Libertarian Atlantic blogger Megan McArdle has taken issue with Matt Taibbi’s extremely well researched piece on the gigantic fraud scheme Goldman Sach’s orchestrated against it’s own customers, believing that the systems in place were simply ‘too complicated’ to blame on any one person or company.

McArdle’s view, in my opinion, it utterly ridiculous and McArdle’s attempt to blame customers for being lied to by Goldman Sach’s is absolutely disgraceful. Taibbi’s piece is based on real research and an overwhelming amount of hard evidence, and he calls McArdle out big time on her support for Goldman Sachs. Taibbi has no background in business or economics, but he makes McArdle look positively ignorant when it comes to a topic she supposedly specializes in:

Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.