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Inside The Great American Bubble Machine

Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression

In Rolling Stone Issue 1082-83, Matt Taibbi takes on "the Wall Street Bubble Mafia" — investment bank Goldman Sachs(click here to read the whole story). The piece has generated controversy, with Goldman Sachs firing back that Taibbi's piece is "an hysterical compilation of conspiracy theories" and a spokesman adding, "We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good." Taibbi shot back: "Goldman has its alumni pushing its views from the pulpit of the U.S. Treasury, the NYSE, the World Bank, and numerous other important posts; it also has former players fronting major TV shows. They have the ear of the president if they want it." Here, now, are excerpts from Matt Taibbi's piece and video of Taibbi exploring the key issues.

Matt Taibbi On Goldman Sachs' Big Scam

The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.

Any attempt to construct a narrative around all the former Goldmanites in influential positions quickly becomes an absurd and pointless exercise, like trying to make a list of everything. What you need to know is the big picture: If America is circling the drain, Goldman Sachs has found a way to be that drain — an extremely unfortunate loophole in the system of Western democratic capitalism, which never foresaw that in a society governed passively by free markets and free elections, organized greed always defeats disorganized democracy.

They achieve this using the same playbook over and over again. The formula is relatively simple: Goldman positions itself in the middle of a speculative bubble, selling investments they know are crap. Then they hoover up vast sums from the middle and lower floors of society with the aid of a crippled and corrupt state that allows it to rewrite the rules in exchange for the relative pennies the bank throws at political patronage. Finally, when it all goes bust, leaving millions of ordinary citizens broke and starving, they begin the entire process over again, riding in to rescue us all by lending us back our own money at interest, selling themselves as men above greed, just a bunch of really smart guys keeping the wheels greased. They've been pulling this same stunt over and over since the 1920s — and now they're preparing to do it again, creating what may be the biggest and most audacious bubble yet.

See Taibbi discuss Goldman Sachs' big scam.

See Matt Taibbi discuss Goldman Sachs' role
in the housing and internet busts.

See Matt Taibbi run down Goldman Sachs graduates with government positions.

See Matt Taibbi discuss Goldman Sachs' powerful influence

See Matt Taibbi react to Goldman Sachs' excuse

Click here to read Matt Taibbi's entire piece, "The Great American Bubble Machine."

Franken Jokes at Sotomayor Hearing

It turns out Supreme Court nominee Sonia Sotomayor and Sen. Al Franken were both Perry Mason fans as kids.

The two reminisced at Sotomayor's Senate confirmation hearings Wednesday, after the Minnesota Democrat noted that he and his family and Sotomayor and her family tuned in to the weekly courtroom drama on television.  And here I thought that this was actually a confirmation hearing.  What next a male stripper popping out of a cake for dramatic effect?

CNN Money - Best places for the rich and single

Best places for the rich and single

Seeking a sugar daddy (or sugar-mama)? Follow the money to these towns and cities, where affluent young professionals are abundant.

19. Tarrytown, NY

Population: 11,403

Single: 29.9%

Median family income: $112,703

In this quaint Hudson Valley village half an hour from New York City, you might meet people who work for Kraft, Hitachi, Dannon or Bayer, all of whom have offices in Tarrytown. Singles hang out at the many luxury hotel lounges in town. To meet earth-conscious locavores, peruse the farmers' market at nearby Stone Barns, just a short drive from Tarrytown, or take your date out for a romantic dinner on Main Street.  

See complete data and interactive map for Tarrytown

23. Dobbs Ferry, NY

Population: 11,186

Single: 29.6%

Median family income: $119,153

Foodies will relish the many high-quality restaurants in Dobbs Ferry, a quaint village just a short train ride from New York City. To really impress your date, bring a home-cooked picnic dinner to Waterfront Park and enjoy an outdoor jazz concert. Hang out at the country club to meet golfers, or, for something more adventurous, take a kayaking class on the Hudson River. 

See complete data and interactive map for Dobbs Ferry

Who would have known?  I can tell you this much, you'll want to watch where you stand on the Metro North platform in this dreamy little town.... LOL

Kelly Clarkson is Tired of Fat Jokes

The first season American Idol winner has come a long way from her hay days in Katy, Texas. She’s now 27, with new hot singles, and loving everything about herself–except, maybe, the weight she’s put on over the past seven years.

She’s currently not laughing. “The rumors are not helping me on the dating front!” she said. “I prefer the boys. I’m extremely flattered when I do get hit on by girls, and I think it’s hot, but I’m not into it. I like boys.”

But other than that, the Texas native sticks it to her bullies. “I love my body. I’m very much OK with it. I don’t think artists are ever the ones who have the problem with their weight, it is other people.”

We agree Clarkson. Curvy is sexy. And Clarkson’s currently curvy, sexy, and single.  Ya'll all know how much I love Kelly Clarkson but I do have to upload this funny parody song for ya'll all to hear.

http://daveandjimmy.com/cc-common/mediaplayer/player.html?redir=yes&mps=daveandjimmy.php&mid=http://a1135.g.akamai.net/f/1135/30273/1h/cchannel.download.akamai.com/30273/3827/richmedia/i_do_not_workout.mp3?CCOMRRMID=30951212&CPROG=RICHMEDIA&am

Me First, Me First over at the old Metro North in Dobbs Ferry

Well all I have to tell you a story about a guy on my train this morning.  Talk about total jerk.  I've seen him over the past year push his way into the train in the morning and strategically stand where he has seen others stand on past days just to jockey for position and get into the train first but today he chose to PUSH up on the wrong person.

A couple of months ago he PUSHED into a fellow train rider as she was entering the train and she had given him a piece of her mind.  Now knowing what a jerk he was from the past I immediately assumed that he must have done something to her and of course in speaking to her later I would find out that he did indeed PUSH her when entering the train.  And yet today, he yelled at me for supposedly doing the exact same thing to him.  Talk about the pot calling the kettle black!

Well for those of you who know me you know that come into my court and we WILL PLAY BALL!  So as  you guessed I told him exactly how I felt and didn't back down as he probably would have liked.  In speaking to another train rider later we kinda figured that he probably gets off on it.  SO EWWWH!

So what does this guy look like?  Well think of an attitude like Michael Douglas in the movie "Falling Down" where he just snaps and goes crazy and mix in Mr. Rogers and perhaps the neighbor pedofile and there you have it.  I'm going to make it my aim to post his picture every more clearer here daily for all to see just in case you BUMP into him or come into his path and are accused of PUSHING him.

It should be noted that later on after the train ride several riders expressed to me that it was not I but HE who had pushed while entering the door as they had seen it from their vantage point as the train came into the station.  It feels so good to be VIDICATED!

** Note Qubert as we will henceforth refer to him is sitting behind the empty spot (to the left) in this picture.  You can see his BALD head shining forth.  Keep coming back for daily blog updates to see if we can get a full picture of the JERK for you all to see.  

Daphne Zuniga returns to 'Melrose Place'

Well there more news on the new Melrose Place reboot.  Jo is back!  Daphne Zuniga -- last seen on One Tree Hill -- will reprise her role as photographer Jo Reynolds in The CW's reboot of Melrose Place this fall. She'll guest star in at least two episodes; her character returns to town after enjoying success in her career as a professional photographer.

Zuniga is the fourth member of the original Melrose Place cast to sign onto The CW's update; Josie Bissett, who played Jane Andrews Mancini, is also expected to make a guest-starring appearance this fall while Laura Leighton (Sydney) and Thomas Calabro (Michael) will recur. Now all we need is the Queen Bitch herself Heather Locklear as devilish Amanda Woodward and this show will be a success out the door!  I'm thinking that Locklear will take a page out of the original series book and join during the second season and bring up any lagging ratings and reclaim her crown as the Queen Bitch and Diva or primetime soaps.  Melrose Place debuts Sept. 8.