I am currently reading ‘Griftopia’ by Matt Taibbi; it is a fascinating book by a journalist who seems to understand the complex financial and political realities of America. It is on the New York Times best seller list, and is an astute picture of, as Matt Taibbi calls it: ‘the most audacious power grab in American history’. It surely has its echoes in the UK too. I’ve only just started reading the book but already he has highlighted how the Tea Party has been set up to corral angry right-wing Americans into blaming handouts to the poor and ‘unproductive’ for their problems, and keeping their anger away from where it belongs – to the bankers of high finance and the politicians that have handed them trillions to bail them out of their criminal and insanely irresponsible actions.
Grifter is what Matt Taibbi calls the high finance bankers. The word means conman. Matt states that there are really two Americas, one for the grifter class, and one for everybody else. He says that
‘in everybody-else land; the world of small businesses and wage-earning employees, the government is something to be avoided, an overwhelming,, all-powerful entity whose attentions usually presage some kind of financial setback, if not complete ruin. In the grifter world, however, government is a slavish lapdog that the financial companies that will be the major players in this book use as a tool for making money’.
He goes on to write that:
‘the grifter class depends on these two positions getting confused in the minds of everybody else. They want the average American to believe that what government is to him, it is also to JP Morgan Chase and Goldman Sachs investment banks’.
According to Taibbi, their work of obfuscation, has been so successful that the Tea Partiers ended up protesting against new laws that would force irresponsible banks in the future to bail themselves out.
Matt Taibbi, says that networks like CNBC, on which a rant by Rick Santellis sparked the Tea Party, is a ‘cultivated ally’ of the predatory banks.
He goes on to say that:
‘the new America..is fast becoming a vast ghetto in which all of us, conservatives and progressives, are being bled dry by a relatively tiny oligarchy of extremely clever financial criminals and their castrato henchmen in government, whose main job is to be good actors on TV and put on a good show.’
I’ll write more about this enlightening book as I read on….the book offers fresh reporting on the backroom deals of the bailout and Goldman Sachs, the ‘vampire squid wrapped around the face of humanity’.