a must read

Looting Main Street:

“We’re like a guy making $50,000 a year with a million-dollar mortgage.”

does this sound like City of Oakland or what? and when you read the article, the author even mentions Oakland specifically.

the little lawsuit John Russo filed probably only made a small dent in the profits of these big banks considering their anti-trust bond deals with Oakland and other shenanigans. but even without this 1990s Russia-style fraud, we’d still be in the midst of our pension ponzi schemes.

are all you “liberal” and “conservative” Oaklanders still banking with JPMorganChase and BofA (used to be good ole bank of italy, now a POS) and the rest?

another great write-up by former eXiled writer Matt Taibbi.

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