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Griftopia
Old 11-05-2010, 01:21 PM   #1
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Griftopia

Anyone give this a read yet ? I did and would be interested in other opinions.
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Old 11-05-2010, 01:36 PM   #2
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Frayne, some background would have helped! Like this, for instance:

ABOUT THIS BOOK

The dramatic story behind the most audacious power grab in American history

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’sMatt 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.


Griftopia by Matt Taibbi - Hardcover - Random House

So, did you like it?
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Old 11-05-2010, 01:49 PM   #3
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Only about three quarters of a way through it but yes I do like his writing style and breaking down the nuances of the financial debacle.
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Old 11-05-2010, 02:01 PM   #4
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Being a fan of Ayn Rand, I'd have a hard time choking it down, I think. But if I run out of Barbara Ehrenreich books, I'll give it a whirl.
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Old 11-05-2010, 05:46 PM   #5
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Quote:
Originally Posted by Sarah in SC View Post
Being a fan of Ayn Rand, I'd have a hard time choking it down, I think. But if I run out of Barbara Ehrenreich books, I'll give it a whirl.
Heh-heh-heh... I haven't read it, but considering the subject, and the raving review by Rolling Stone, I'm going to guess that it would be loved by anyone looking to demonize Wall Street and some politicians they already dislike.

Hey, that might be totally deserved, but is this really an impartial view that one can learn from, or an ax grinding ceremony that preaches to the choir (did I mix that metaphor enough for you?)?

-ERD50
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Old 11-05-2010, 09:01 PM   #6
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Just finished and really liked it, in fact think it should be required reading for anyone wanting to understand the complexities of the financial meltdown and subsequent government bailout. The author makes an excellent point about most Americans, politicians, & news media types not wanting to take the time and expend the energy to understand complex problems that face the country. A more apt title might be, the Raping of America by Goldman Sachs !
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Old 11-05-2010, 09:07 PM   #7
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Got it on my kindle. Will be reading it soon.
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Old 11-05-2010, 09:16 PM   #8
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You gotta love the guy who invented the "vampire squid" image.
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Old 11-07-2010, 04:48 PM   #9
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Interview with the author here:

'Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America' - Author Interview -- Seeking Alpha
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Old 11-07-2010, 07:32 PM   #10
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Thanks for the post. I hadn't heard about this book.

I've enjoyed Matt's articles. He does his research and isn't worried about not being invited back for interviews (or parties!) and tells it like it should be told. Too my journalists, imho, worry more about access than serving their reader's interests.
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