Matt Taibbi has done a stellar job of researching and really digging down into the causes of the Wall Street meltdown. When Megan McArdle faces off with him over whether Goldman Sachs deserves to face criminal charges for their participation, she's outclassed and outspent.

By the way, the "Timberwolf" deal referred to in the video is the same one Carl Levin referred to as a sh*tty deal in the Senate committee hearings as he repeatedly quoted emails turned over to the government during discovery.

Since May, when Taibbi and McArdle went head on at each other over this, the lawsuit filed by Basis Yield Alpha Fund was dismissed and refiled. Basis Yield is seeking $1 billion in damages, alleging that Goldman knew they were selling toxic securities at the time.