The EPA’s Incredible $20 Billion Dollar Caper, Explained

I m frequently asked if my past covering undisguised corruption in the Yeltsin and Putin governments prepared me for covering American politics. Usually I say yes before making a semi-abstract comparison, like noting mid-nineties subsidized privatizations for Yeltsin cronies had similarities to the Fed facilities set up to swallow up toxic assets of big Wall Street donors. In this case the comparison is exact, the only difference being the American version of the scheme is far bigger.

via www.racket.news

Matt Taibbi.