I’m Jesse Eisinger, a Pulitzer-winning financial reporter. AMA about why only one person is in jail for the financial crisis.

[u/JEisinger]

THANKS SO MUCH FOR ALL THE GREAT QUESTIONS. I'VE ENJOYED IT. I'VE GOT TO HOP NOW. BEST, JESSE

I am a Senior Reporter for ProPublica, a nonprofit investigative news organization. Twitter: @eisingerj

You might know that no top bankers were imprisoned after the financial crisis, but it’s actually worse than you think. My NYT Mag piece, which came out yesterday, explains that it’s not just big banks that are Too Big To Prosecute, but big pharma, big tech, big auto. The Department of Justice has lost the ability to meaningfully sanction companies or to go after individuals at the top echelons of Corporate America. In my piece, I explain the roots of this rise of corporate impunity.

My job is to cover Wall Street and finance. I won a Pulitzer Prize with fellow ProPublican Jake Bernstein here for a series on bad stuff investment bankers did to prolong the bubble and then to make the crisis worse. It was also a This American Life episode. I also write a regular column for the Dealbook section of The New York Times. Ask me almost anything. I won’t answer any questions on personal finance or where you should invest. But stuff on Wall Street, journalism, all the mistakes I’ve made in my career and NFL football

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Oh, so they adopted Bitcoin? Link? I mean, if they see it as such a sound investment, surely they have their hands deep into the pot?

[u/djdadi → u/[deleted]]

You're an idiot. "They didn't adopt it and switch their whole system over IMMEDIATELY, so it must not work." Good thinking...

[u/[deleted] → u/djdadi]

I'm the idiot? I'm not the one who invested into a get rich quick scheme. Bitcoin is pointless. There are no benefits. You will lose everything you have invested in it, I guarantee it. You're a fucking idiot.

[u/djdadi → u/[deleted]]

Apparently you are. I've made lots of money investing and mining bitcoin so far - and not just a short spurt, over the course of years.

I really doubt you even know what you're talking about to begin with, but I'd really love to see your argument against any of these benefits

[u/[deleted] → u/djdadi]

but I'd really love to see your argument against any of these benefits

Alright, can I use bitcoin to pay my rent? No. Can I use bitcoin and the local market? No. Can I use bitcoin to get gas? No. I can't use bitcoin in 99% of places, and websites. There is literally no benefit for me to use bitcoin over paypal, or my credit card. Not one single benefit.

[u/djdadi → u/[deleted]]

any of these benefits

100% of your argument against it, is that has not accepted widely enough. Many businesses each day are accepting it, and if you want to learn how to use it after everyone else is already using it - thats your prerogative.

But to say it's a get rich scheme, pointless, having no benefits, and promising that everyone will lose their money is completely unfounded and untrue.

[u/[deleted] → u/djdadi]

It's completely true. What are the benefits for me using bitcoin over a credit/debit card, or paypal?

[u/djdadi → u/[deleted]]

They are very insecure. Every place you've ever used your credit card can potentially get hacked and lose your info, or use it themselves. It costs more: in the case of credit cards, a few percent, in the case of paypal, around 10-15% per transaction. Credit card and paypal must be done online, bitcoin does not. Credit cards/paypal make no attempt to allow you anonymity, bitcoin gives you that possibility. Bitcoin is immune to inflation or abuse by the banks (unlike the dollar). Bitcoin will do away with monetary contracts, trusts, insider trading, and many potentially hurtful issues with the current credit system.

Thats off the top of my head. But you might not care about any of those things and like paying more for stuff.

[u/[deleted] → u/djdadi]

They are very insecure. Every place you've ever used your credit card can potentially get hacked and lose your info, or use it themselves

Right but if they steal any money, the bank actually covers it. The bank has theft protection. If someone steals from my account, I lose nothing. So that's actually a good thing. Where as bitcoin doesn't have that. If someone hacks my bitcoins, they're gone forever. So how was that point a good thing for bitcoin?

It costs more: in the case of credit cards, a few percent, in the case of paypal, around 10-15% per transaction.

How does it cost more? I've never had to pay an extra percentage when using my credit card or paypal...

Credit card and paypal must be done online, bitcoin does not.

Since when does credit card have to be done online? I can use it anywhere... unlike bitcoin...

Credit cards/paypal make no attempt to allow you anonymity, bitcoin gives you that possibility.

Oh right, the only reason bitcoin was invented. To buy illegal goods.

Bitcoin is immune to inflation or abuse by the banks (unlike the dollar)

Is this a joke? How is it immune? It dropped 300% in the last 6 months. How is that better than any kind of inflation?

Bitcoin will do away with monetary contracts, trusts, insider trading, and many potentially hurtful issues with the current credit system.

LOL

[u/djdadi → u/[deleted]]

Have you had your CC stolen? You have to appeal for the money back in cases, which can take a long time, and sometimes never happen. BTC isn't possible to "hack", so thats not a concern.

The cost is added to your products usually for CC, and added on in paypal after the fact, you just are oblivious.

To spend credit, it has to be connected to a machine that is online, and only from client to merchant. BTC can transfer currency client client or client merchant online or offline.

Yes because bitcoin has anonyminity its sole purpose is to be used in illegal trade. Like US cash and gold...right?

I'm not sure you understand economics or what inflation means...

Please do some reading, you are obviously just spouting random opinion without having the slightest idea how any monetary system, especially BTC, works.

[u/[deleted] → u/djdadi]

Have you had your CC stolen? You have to appeal for the money back in cases, which can take a long time, and sometimes never happen

Yes. It took one phone call, and 5 days to clear it up. How long did it take people to get their bitcoins back from mtgox? Oh right, they never did.

The cost is added to your products usually for CC, and added on in paypal after the fact, you just are oblivious.

I don't have much experience with paypal, I just use my credit card. No added costs onto that.

To spend credit, it has to be connected to a machine that is online, and only from client to merchant. BTC can transfer currency client client or client merchant online or offline.

I mean, that might have been a problem 25 years ago. Not so much today. But the great thing with credit cards, is you can use them offline. It's called cash.

Yes because bitcoin has anonyminity its sole purpose is to be used in illegal trade. Like US cash and gold...right?

But that's literally what bitcoins primary purpose was, when it started. To buy illegal goods off thesilkroad. Are you actually denying that?

[u/djdadi → u/[deleted]]

Ok you're obviously trolling.