The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet

02/12/2014 12:12 pm ET | Updated Feb 12, 2014
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Call it the loophole that destroyed the world. It's 1999, the tail end of the Clinton years. While the rest of America obsesses over Monica Lewinsky, Columbine and Mark McGwire's biceps, Congress is feverishly crafting what could yet prove to be one of the most transformative laws in the history of our economy – a law that would make possible a broader concentration of financial and industrial power than we've seen in more than a century.

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