To download from the iTunes Store, get iTunes now. The dramatic story behind the most audacious power grab in American history. 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. 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 listening for anyone who wants to understand the labyrinthine inner workings of politics and finance in this country, and the profound consequences for us all. In a time of 24 hour opinion piece news minus the relevant facts, this is a wonderful read. You could re-watch the last two years of media coverage of our financial collapse and gain an actual feel for the facts and players involved within the first few chapters of this book that were somehow omitted in the media.
The superhero capes wrapped over the shoulders of the financial 'genius' that led us to this point are ripped off by Taibbi and thrown into the dumpster unapologetically, along with their economic models that the media and our elected officials continue to champion. Mr Taibbi gives a glimse and proscecution simultaneously into the man with the big S on his cape, Alan Greenspan.
Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America
He does so with such wit and a sharp tongue that this chapter alone makes the book worth purchasing. In wanting to know more about what is being done to us, I found this an even better read than Nouriel Roubini's 'Crisis Economics' which is a wonderfull read of its own but is more textbook to the layman. Taibbi, in his trademark fashion, gives us the terrible detail along with the simple mans analogy to understand this complex mess we are in.
We are in it for some time to come it appears. Griftopia is a great book to help us cut through the nonsense debate currently playing now on our network tv.
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In your new book Griftopia , you talk about how Wall Street and Washington have ironically got middle class America to support their agenda. How is this happening? In your experience at the Tea Party events, do they understand the cosmic irony that they basically just got robbed because there were no sheriffs left in the Wild West, yet now they all stand for a movement that prefers to keep it that way?
And interestingly, a lot of them are real law-and-order types.
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But when it comes to a financial crime, they have absolutely no interest in that whatsoever. Basically, government regulation is the kind of stuff a lot of them see on a day-to-day basis, but in a different form. These are all little annoyances and costs that they see when they interact with government.
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GS , and that level of power requiring oversight. So, can you explain how what you call the grifter class pulled off this magnanimous trick? And when people like these Tea Party leaders come around offer a very simple explanation — regulation bad, deregulation good — people jump at the chance to believe because not believing means they must commit themselves to actually figuring it all out. And a viable alternative is to believe the idea that all this mess was caused by regulations and government meddling.
We are transitioning to something new and it has less to do with the evolution of an individual country like the United States and more to do with the withering away of states in general.