His latest is called, “Wall Street: Everything You Need to Know.”

The nickel tour is that this is about one Jeffrey Verschleiser, who went beyond what Obama calls, “Immoral but not illegal.” He engaged in what was pretty much black letter fraud, and not only has he not been called to the dock, he is flush enough to buy all 94 rooms in an Aspen hotel for his daughter’s Bat Mitzvah.

This is a guy who was at the core of Bear Stearns’ corrupt financial transactions that took down the firm, and he was telling his associates that he was “putting lipstick on a pig”, and some of his actions appear to be straight out embezzlement.

Why he is not facing criminal prosecution is beyond me.

Read Taibbi’s piece. It puts it all in context.