Matt Taibbi: 'I Can't Imagine How A Sane Person Could Possibly Describe This As A Victimless Crime'

Taibbi is right on the mark again.



I would add, in light of the LIBOR tampering, I that we can put to rest the notion that Banks are sitting on money because of uncertainly about the regulatory environment. More likely, with the revelation that LIBOR had been tampered with, in part, to make sick Banks look healthier than the actually are ... the Banks are sitting on the money because of solvency issues, not because they are afraid the Government is going to hit them with new regulations.



Of course, if the regulations Banks are concerned about are the ones that would end their fraud and force their insolvency out of the shadows, well then, I can see their point.
Read the Article at HuffingtonPost