Taibbi: Suck it Wall Street

As usual, his inciteful diatribe on the GameStop story:

"Polite society was united in its horror at the spectacle of amateur gamblers doing to hotshot finance professionals what those market pros routinely do to everyone else. [...] The only thing 'dangerous' about a gang of Reddit investors blowing up hedge funds is that some of us reading about it might die of laughter. That bit about investigating this as a 'pump and dump scheme' to push prices away from their 'fundamental value' is particularly hilarious. What does the Washington Post think the entire stock market is, in the bailout age? [...] In other words, it was all well and good for investment banks and executives of phoney-baloney companies to gorge themselves on funhouse profits on a funhouse economy, but when amateurs decided to funnel just a bit of this clown show into their own pockets, finance pros wailed like the grave of Adam Smith had been danced upon. [...] Regarding improprieties, leaving aside that the Redditors were doing exactly what billion-dollar hedge funds do every day — colluding to move a stock for fun and profit — the notion that this should be the subject of a federal investigation is preposterous."