Griftopia

Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America

By: Matt Taibbi

Narrated by: Patrick Egan

Length: 11 hrs and 55 mins

Publisher's summary

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’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 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.

©2010 Matt Taibbi (P)2010 Random House Audio

Almost stopped listening after 20 minutes, but...

I'm glad I didn't. He starts out like some bleeding liberal but moves on pretty quickly. Despite his obvious leanings (I mean, c'mon...he writes for Rolling Stone) I still think Taibbi does a great job by factually drilling down, putting his bias aside...somewhat, and writing what I consider to be a pretty compelling, illuminating and at times, humorous accounting of just how rigged the financial system is. Great job and I loved Egan's narration. He sounds like Peter Coyote but with more liveliness. I'm looking for more of this guy's stuff.

News In America

While some people will take issue with the first chapter; I think Taibbi hits on something I've suspected for some time now. The fact that our mainstream news and debates are more or less meaningless or nonsense. Many people like to focus on Fox News as being so biased, but really they are just the logical progression of what most of the news has become.

To this point, I found the chapters about the commodity bubble the most interesting and revealing of how much we are all suckers. I don't remember any debate from Obama or McCain about the issue of speculation in regard to the price of gas during their campaigns.

Taibbi at his best.

Taibbi proved himself to be one of the best journalist to cover the 2008 collapse. This is particularly amazing when you consider that he wasn't really an economics/financial guy before that. He learned as he went along, and learned fairly well. Or maybe it's more of a condemnation of the mainstream press, I'm not sure.

Either way, Taibbi has a razor sharp whit and covers this mess with good clarity. It would be more funny if it wasn't so maddening. There are quite a few books on this subject, but Taibbi does a great job of breaking down complex financial follies into language that you can understand and putting the whole thing in perspective.

The best chapter in the book has to be the Greenspan chapter. Absolutely hilarious.

Fantastic, recommended to every American

This book should be added to every American high school history curriculum. It is well researched, thoughtful, and compelling. Taibbi was masterful at explaining a very complex set of issues everyone should know about. Even a decade later, this work is relevant, Taibbi's explanation of why we should care as obvious and painful as it was a decade ago.

If only...

Listening to this kind of book now makes you wonder what would have happened if people back then understood all the lobbying, greediness, manipulating and pure corruption that were playing all along for years. Great listen!

A must read

Some mind blowing information. My advice is to take this one in chunks. I went through it so fast I feel I ended up getting angry haha. Great book though.

must read !!!!!!!!!!

Any additional comments?

Before we vote this election one must think on which Goldman Sach's man are you going to vote for. The only difference between the two is the color of the skin. God help us

Interesting review of early 2000's financial disasters

Matt provides a review of the .com bubble and housing financial disasters (among others) and the actions that led to them. Informative even if at times scathing of those involved.

Razor-sharp wit cuts through the clutter

I've enjoyed Matt Taibbi's appearances on television and some of his Rolling Stone writing, but had not had the chance to read his books. I looked forward to the release of this one, and wasn't disappointed, ordering it the day it was released and listening to it in long installments thanks to the Washington traffic.

Taibbi skewers both political parties and the entire media establishment for the mindlessness of what passes for discussion of what's happened to our economy since September, 2008, and before.

We're treated to a hysterical Taibbi review of the maiden voyage of USS Sarah Palin at the GOP National Convention (her hair in a bumpup that looked like a Flight Attendant for Piedmont, in a dress that screamed Wal-Mart Halloween Costume for angry white middle-aged female), then introduced to the events that were even then unfolding, without our knowledge, as our economic system was forever changed.

He actually got me to understand what a credit default swap is! It's a simple, easy-to-understand guide through the impenetrable gobbledeegook of Wall Street, and an indictment of all the media who haven't told us much of anything -- and of the politicians in both T-Shirts who want to keep it that way.

Read it. I enjoyed it very much. Congratulations, Matt Taibbi, and thank you for helping us understand.

Excellent!

This book added to my understanding of what is happening to America, like Todo pulling back the curtain in the Wizard of Oz, but it also organized and expressed many of the thoughts that have been dancing around at the back of my head about our political system in a irreverent, witty, and coherent fashion. Thank you, Mr. Taibbi for saying f***k you, when I can not.