"It's hard to know how seriously one is supposed to take a Matt Taibb," writes Brad DeLong, but the one prerequisite for taking any journalist seriously is that facts be correct. In Taibbi's latest, "Obama's Big Sellout," "When an author is apparently as clueless as to what was going on a year ago as Matt Taibbi is, one has to wonder just how seriously one is su
"Since 1825, the first rule in a financial crisis has been for the government to rescue the banking system - to try to prevent or moderate or offset the collapse of risk tolerance," DeLong says. "And it was this rule that was broken in the Great Depression. And that is why the Great Depression was so great."