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

This book should be required reading

for nearly everyone living in the United States. Matt Taibbi has really done his homework for this one. Between Richard Reich and Matt, I have learned more about the control and driving forces of economics than I could ever have (or did) learn in college. Schools teach the capitalistic, orgasmic greed this book exposes and explains. Ever wonder why ARM rates were increased? How about the continuing non-sensible rise and fall of gasoline prices? Inflation, commodity speculation, market crashes, as well as credit default swaps and bundled real estate mortgages; they all find a place in this amazing book. Listen to it if you dare...you may be absolutely amazed how far in the dark "they" are keeping us.

Taibbi's Revenge

This is an excellent book well written and well meant with one important exception. Matt Taibbi's characterization of Ayn Rand's life as "silly" and his other disparaging references to her ideas is either a mean spirited slur or a deliberate misunderstanding . Ayn Rand, despite her personal flaws and eccentricities was an important writer and thinker. Whatever Alan Greenspan may or may not have taken away from their association and corrupted later on when he became Fed Chairman has nothing to do with the value of Rand's political/economic philosophy. That kind of thing may make Mr. Taibbi feel better but it taints an otherwise terrific book. Chapters 3 and 4 are my overwhelming favorites. He makes usually boring and complex economic issues clear and even interesting. Patrick Egan is the perfect narrator. He manages to add just the right amount of cynicism and facetiousness to his reading - very appropriate for Taibbi's hypercritical rhetoric .

What a masterpiece

Any additional comments?

This is better researched and argued than any of Michael Moore's works. An extremely hard-hitting book that also has humor and wit (eXile readers will know what I am talking about). Taibbi at his best. A must listen.

Matt makes it clear

Would you recommend this audiobook to a friend? If so, why?

I recommend this book for anyone seeking to understand the debacle of Fall 2008.

What was one of the most memorable moments of Griftopia?

The excoriating deconstruction of "guru" Alan Greenspan

Which scene was your favorite?

Alan Greenspan signing the declaration "excommunicating" Nathanial from the Ayn Rand "Objectiveists Group".

If you could give Griftopia a new subtitle, what would it be?

The Wall Street Casino game and how it is rigged."

OUCH!

Matt Taibbi is one of my favorite writers on any and everything. His knowledgeable and often unique point of view entertains as it educates. Griftopia is an excellent example of his ability to cut to the quick with humor and impatience! His take on Ayn Rand and Alan Greenspan is worth the price of the book...Finance, economics, etc are a fog that defies description for those of us right brains who know we are angry, but aren't sure why. Matt tells us in a very entertaining fashion that ratchets up my outrage with each chapter and left me feeling afraid, very afraid...

Excellent

Would you consider the audio edition of Griftopia to be better than the print version?

Yes

Have you listened to any of Patrick Egan’s other performances before? How does this one compare?

No I have not but I enjoyed his narration very much.

Was there a moment in the book that particularly moved you?

The entire book was very informative.

Any additional comments?

Matt Taibbi is an excellent journalist IMHO

It’s in the details

What more do we need to know about the 2008 crash and subsequent bailout you ask? After listening you’ll figure out its all in the details, there is so much more to understand. I’m half way and I just can’t put it down.

Should be mandatory reading for all Econ classes

It'a so important that we all wake up. The landscape of America is changing and we are all falling for the corporate version of the Kansas City Shuffle.

Funny and Depressing

I've read many books on the financial crisis and so far, this one has been the most interesting.

Could cause an aneurism or even stroke

This is classic Matt Taibbi. He is not afraid to use blunt, honest, language. Such as calling the individuals who nearly caused another Great Depression a variety of terms never heard from journalists or the pundit class except when attempting to smear members of the other political party.

Having read other books on the recent financial crisis (e.g., "The Big Short") I thought I had a good understanding of the underlying causes and perpetrators. But listening to Matt's account I found myself occasionally sounding like a sufferer of Tourette syndrome as I learned new details about how the amoral, greedy, stupid "masters of the universe" at AIG, GoldmanSachs, et. al. nearly destroyed the world.

Buy a copy for yourself and another for your Tea Bagger family member or friend.