Griftopia
Subtitle: bubble machines, vampire squids, and the long con that is breaking America
By: Matt Taibbi
Publisher: Spiegel & Grau
Published: 2010
Place of publication: New York
Language: eng
Format: Hardcover
Number of pages: 252
ISBN-13: 9780385529952; 9780385529976
Description: The financial crisis that exploded in 2008 was only a prologue. The 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 story, digging beyond the headlines to get into the deeper roots and wider implications. He traces the movement's origins to Ayn Rand and her most influential acolyte, Alan Greenspan; 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 with an inside account of the high-stakes battle for health-care reform--a battle the true reformers lost.--From publisher description.