9/5 Matt Taibbi: Mitt Romney and the Looting of America

On today’s show Matt Taibbi called in to discuss his new Rolling Stone feature story: Greed and Debt. The True Story of Mitt Romney and Bain Capital. He and Sam talked about how Bain Capital and Mitt Romney exemplified the shift from an industrial economy based on making things to a economy run on speculation, how Bain moved away from investing start up capital to simply loading existing companies with debt and stripping their assets and how the restaurant scene in Goodfellas is the best way to understand how Bain’s business model works. Sam lamented that the Democrats haven’t followed up on Newt Gingrich’s attacks on Bain he made during the primary and he and Matt agreed that the Democrats are still committed to making nice with Wall Street.

Better Half: What Sam liked and didn’t like about the DNC. The worlds richest woman had some more inspiring things to say about how people move up the economic ladder, the Ted Kennedy tribute at the DNC was great and Sam thinks Teddy would love that he is getting to destroy Mitt Romney post posthumously and Sam outlined three scenarios for what happens to Medicare and Social Security after the election.

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