Tuesday, May 24, 2011

"How are you not ashamed to do the job that you do?"

Don't know how I missed this earlier, but watching Matt Taibbi destroy Megan McCardle during this interview was incredibly satisfying. For background on McCardle, this Jesse Lee quote sums her up best:
It’s not so much that McArdle is wrong. It’s that she proves herself wrong and then stands on her mountain of stupid wrongness sneering at everyone who’s noticed that she’s gloriously fucking wrong about everything.
Taibbi setting up the interview:
Wanted to post the video for an appearance I did this weekend on "CNN Your Money" with Ali Velishi, in which I was invited to debate the Goldman issue with Megan McArdle of The Atlantic. Megan and I have a long history, which I don't need to get into here, but I'll say this: her ragged intellectual poverty could not possibly have been laid any more bare than it was in this appearance. In it, she actually argues that Goldman did not have any more responsibility to see that their clients made money than, say, The Atlantic magazine has a responsibility to see that Rolling Stone makes money.

I will leave it to the reader to figure out how exact a correlation there might be between a bank that sells a multibillion-dollar pool of mortgages to a client with whom it has an written contractual commercial agreement – an agreement struck under the umbrella of an extensive series of securities laws – and two magazines that have absolutely no business relationship whatsoever.

Taibbi saying "How are you not ashamed to do the job that you do?" and the stunned silence that follows the exchange is priceless.

Likewise, as Taibbi says the Atlantic magazine/Rolling stone comparison might be one of the stupidest things ever uttered on live TV in some time. All that came to mind was this:

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