Matt Taibbi Talks Goldman Sachs, Regulation (VIDEO)

08/17/2009 05:12 am ET | Updated May 25, 2011

Matt Taibbi, the author of the much-discussed Rolling Stone article "The Great Bubble Machine" about Goldman Sachs, recently appeared on Air America's The Break Room Live.

Taibbi offered some interesting background on his piece, which has drawn the ire of the Goldman PR department and been something of a sensation in the financial blogosphere. Specifically, he expounds on what he sees as a tectonic shift in the culture of Wall Street in the 1990s. After investment banks became publicly traded companies, Wall Street became obsessed with short-term profits.

Here's Taibbi:

"I think what happened was that Wall Street traditionally had at least a minimum level of societal concern and ethics, and that just disappeared in the mid-90s. And now its completely gone."


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