Matt Taibbi’s recent take down of Goldman Sachs in Rolling Stone, The Great American Bubble Machine, is full of Taibbi’s usual clever turns of phrase and acerbic prose. What I feel differentiates this article from his work is the high pitched response from Goldman Sachs and detractors in the media who are making tons of points about Taibbi’s article, none of which are, ‘It’s not true.’ (PDF and Full Text of article.)
Felix Salmon has a refutation by a Goldman flack.
Taibbi responds to the flack and notes why Goldman’s POV is not represented in the article. They didn’t want to talk.
Time Magazine steps into it in a somewhat ham handed way. Not making many points or adding much substance to the discussion.
Taibbi responds to Time, taking most issue with Time’s ‘everyone was doing it‘ defense of Goldman.
Megan McArdle somehow connects Taibbi’s writing to Sarah Palin, which doesn’t make much sense. Then she hangs out in the comments section saying, “I’m just not down with the idea that there’s some sort of elusive “central point” to stories that permits you to write a bunch of total nonsense as long as the “central point” is good.” Which, as a commenter points out, will probably be posted as a comment on every McArdle piece for the rest of time.
Here’s Obsidian Wings saying the article isn’t as bad as Kevin Drum said it was (though Drum then recanted his statement based on the fact that Rolling Stone confusingly posted excerpts of the article online instead of the full text).
More as it comes in.