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The Divide: American Injustice in the Age of the Wealth Gap Highlight

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What’s amazing about this is that the Fed saw fit as early as January 2008 to warn Chase about Lehman’s instability. But nobody ever warned the public. Nobody stepped in after the bank cooked its books in Repo 105, or misreported taxes, or made fake disclosures, or lied outright to investors. Nothing was done. The government merely sat back and watched the catastrophe unfold, allowing new victims to pour money into the walking-dead bank right up until its collapse.

— Matt Taibbi and Molly Crabapple

Replicated under Fair Use from The Divide: American Injustice in the Age of the Wealth Gap by Matt Taibbi and Molly Crabapple. (Pg. 152)