In a video preview of an upcoming Rolling Stone article, Taibbi explained how the Obama administration started selling out to Wall Street interests almost as soon as the 2008 election was over.
"The really big thing that's in these bills that's really, really scary is that it kind of outlines a permanent bailout mechanism," Taibbi said. "If it survives in the way that it was originally conceived, it's basically going to formalize an arrangement whereby the government is expected to bail out the top 20 to 25 largest financial companies. ... It will be entirely up to the White House to determine whether or not these companies are in trouble in the future, so there won't be any congressional role in deciding when and when not to give a bailout."Read More
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