Matt Taibbi is a lying piece of shit (link)

[hfojvt]

73. it depends on the regulation

but I never said that anybody was above the law. I said that preventing a run on the American financial system is kinda important. Sorta like preventing the levee from giving way is more important than writing a few parking tickets.

Look at it another way. Suppose the credit union where I have all of my life savings, misplaced, and then had stolen, a $6,000 deposit. A completely strict reading of the regulations would say that the director has misappropriated funds and should goto jail. But if, instead, his wife goes around town collecting money, then the building and loan can be preseved and nobody gets hurt.

Yet, even if you take away the collecting of money, it would be best not to publicize it. A run on the credit union would destroy it, whereas if they can fix the problem before anybody finds out, then, once again, it can be preserved.

When the institution is the "entire financial system" it becomes kinda important to preserve it.