America as a New Billionaire-Grifter’s Paradise

I heartily recommend a book I am currently reading, by Matt Taibbi, called “Griftopia”.

Even though he writes for Rolling Stone magazine (usually not the greatest source for news), Taibbi manages to make some sense out of the enormous confidence swindle that was AIG, Morgan Stanley, Alan Greenspan, credit-default swaps, commodities speculation, and selling off all of our national assets. He explains clearly how we have been suffering through tremendous speculative bubbles, wild and unexplained swings in the cost of gasoline, how insurance companies get away without paying for much of anything, and much more. (Like not paying for any “flood” damage on the Gulf Coast during Hurricane Katrina, and trying to weasel out of paying for lots of necessary medical operationa, either, causing about half of all US bankruptcies each year…)

The answer is really pretty simple: the criminal billionaires and multi-millionaires who really run this country have managed to get Congress, the Fed, the states, and the federal government as a whole to deregulate anything that might increase the short-term flow of billions and trillions of dollars into their coffers, even while they pass laws that soak all the rest of us for as much as they can get away with. Then again, those elected or appointed government bureaucrats who best do the bidding of the large corporations are handsomely compensated with money, fame, and fortune when they leave those posts to take up where they left off in ‘private industry’.

Again it’s Matt Taibbi’s book, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America.

You can read an excerpt here

Published in: on March 21, 2011 at 7:56 pm  Comments (2)  
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2 CommentsLeave a comment

  1. This is an interesting link called “They Rule” that maps the relationships between companies and their boards.

    The current salaries of the new “reform” educational leaders (Michelle Rhee’s $275,000 salary and Henderson’s $275,000 salary (if Gray prevails).


  2. Broad Academy grad Dr. William Hite, Jr is pulling atleast $275,000 in Prince George’s County, MD.
    His deputy, Dr. Bonita Coleman-Potter, another Broad Academy grad, is pulling in atleast $175,000.

    For the upcoming year, Dr. Hite is using the children to shakedown the Maryland Legislature and Governor for more money. He is going to cut Reading Recovery and Library Media Specialists, people who actually work with kids, and hire 10 new assistant superintendents paying them atleast $150,000 each.


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