Matt Taibbi can be a bit out there, and he’s not really correct about the Commodities Future Modernization Act or how come derivatives are unregulated (partly because they are too new, and partly because of not the Republicans, but Greenspan, who argued that they shouldn’t be and at the time was the great and all-powerful Oz of the economy – btw, Ron Paul and the anti-Federal Reserve extremists are looking a bit better now, ain’t they?), but this exchange is utterly priceless.
