Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America
The financial crisis that exploded in 2008 isn’t past but prologue. The stunning rise, fall, and rescue of Wall Street in the bubble-and-bailout era was the coming-out party for the network of looters who sit at the nexus of American political and economic power. The grifter class—made up of the... show more
The financial crisis that exploded in 2008 isn’t past but prologue. The stunning rise, fall, and rescue of Wall Street in the bubble-and-bailout era was the coming-out party for the network of looters who sit at the nexus of American political and economic power. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power for a generation, transferring wealth upward through increasingly complex financial mechanisms and political maneuvers. The crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life. Rolling Stone’s Matt Taibbi here unravels the whole fiendish story, digging beyond the headlines to get into the deeper roots and wider implications of the rise of the grifters. He traces the movement’s origins to the cult of Ayn Rand and her most influential—and possibly weirdest—acolyte, Alan Greenspan, and offers fresh reporting on the backroom deals that decided the winners and losers in the government bailouts. He uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world, and he shows how finance dominates politics, from the story of investment bankers auctioning off America’s infrastructure to an inside account of the high-stakes battle for health-care reform—a battle the true reformers lost. Finally, he tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity.” Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing, and scathingly funny account yet written of the ongoing political and financial crisis in America. This is essential reading for anyone who wants to understand the labyrinthine inner workings of politics and finance in this country, and the profound consequences for us all.
Publish date: November 2nd 2010
Publisher: Spiegel & Grau
Pages no: 253
Edition language: English
, Political Science
Just astonishing. How absolutely screwed we are. Taibbi might annoy you - he can be a bit dude-ish in his writing at times, merry with his hilarious teenager-esque spins on traditional curses ("douchewad" being my favorite) and quick to be hyperbolic when its suitable. But you cannot, simply canno...
I really enjoyed this book. It was terrifying and depressing and eye-opening. A relatively short read that's packed with content, it's worth your time. He does a fantastic job of explaining some very complicated things through the use of metaphors and analogies that get you pretty close to unders...
There has been a lot of media, reports and books describing the mismanagement of wall street and mortgages in to this gambling con. This book continues on that same story but in a broader context. There are tons of reviews which outline the book quite well so I will not recap it here. What I will sa...
If you have any interest in the financial crisis, why gas prices rise, or US politics of the last few years I highly recommend this book. Taibbi certainly has a way with words. His explains things clearly and is very open about his opinion on whatever the subject is. He covers a range of topics fr...
UPDATES - June 21, 2012 - at bottomYou don’t have to be Dorothy or “The One” to know that there is something foul going on behind the economic curtain. Matt Taibbi, a contributing editor at Rollingstone, rips away the misinformation that cloaks some of the most nefarious behavior in American history...