In this exclusive, extended interview, author Matt Taibbi discusses wanting to spark a conversation about socially accepted white-collar crime with his book “The Divide.”

Matt Taibbi Extended Interview Pt. 1

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Author Matt Taibbi discusses the hypocrisy of a judicial system that grants criminals at the top of the pyramid bailouts, while rewarding other wrongdoers with jail time.

Exclusive – Matt Taibbi Extended Interview Pt. 2

(7:37)

Category: Bailouts, Legal, Video

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5 Responses to “The Divide: Matt Taibbi on The Daily Show”

  1. mockware says:

    Correct me if I’m wrong but it appears to me that the flaw here is that these crimes require the prosecutor to show intent but the system is setup so that all that is required to allow it to happen is negligence. Maybe these laws need some rewording so that all they need to show is a failure to perform due diligence?

    • Securities Lawyer says:

      You are wrong.

      SEC laws typically do not require Mens Rea, or bad intent. They are absolute laws. they do not require to show loss or victims or malicious intent — all you have to do is engage in the proscibed behavior and you can be prosecuted.

      In the old days, the SEC would then turn over the case to the FBI/Justice department for criminal prosecution

      • mockware says:

        Thanks for the correction. So this basically means that Jon Corzine walked because he had friends in the right places. Funny how we attack Russia for their corrupt crony financial system.

  2. zerulian says:

    Brilliant, thanks so much for linking to Taibbi! His Rolling Stone articles were fantastic. I cannot believe that he never even mentioned his new gig as he is not with Rolling Stone anymore. Wish this book would get the kind of both attention and action that Michael Lewis’ “Flash Boys” is getting. One can dream.

  3. Slash says:

    One of the things that shows what kind of society we are is what crimes we punish. The people in charge (who are usually quite affluent) don’t see financial crime as a crime. Not like jacking a car or robbing a bank. They seem to have a “Darwinian” view (Darwinian in quote marks because I believe their view of it is a bastardization of his theories, not an accurate rendering of them) of economics in which the ruthless and “smart” survive and the soft and weak fall behind (become functionally extinct). Obviously, this is all a very self-serving view, a convenient way of justifying the way they run things.

    Maybe “Game of Thrones” is closer to reality than we’d like to believe.