The reporter's new book argues that our current system of justice allows massively destructive fraud by the hyper-wealthy to go unpunished, while it turns poverty itself into a crime.
The idea of "two Americas" is hardly new. In his new book, “The Divide: American Injustice in the Age of the Wealth Gap,” journalist Matt Taibbi provides a startling portrait of a country fractured by inequality.
Matt Taibbi talks about the manipulation of the swaps market. The Commodity Futures Trading Commission recently subpoenaed brokers at the interdealer broker ICAP and bankers at 15 Wall Street institutions to find out if they colluded to manipulate the ISDAfix rate. ISDAFix impacts global borrowing costs as well as the price of $379 trillion interest-rate swaps, and other important benchmarks in the wake of the Libor rigging scandal.
Matt Taibbi, Contributing Editor for Rolling Stone, talks about the election and the complicated relationship the Obama administration has with Elizabeth Warren and with the financial industry.
Matt Taibbi, Contributing Editor for Rolling Stone , joins us to talk about the recent $2 billion-plus loss at JP Morgan Chase and the state of Wall Street. Taibbi is the author of Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History.
Rolling Stone’s Matt Taibbi takes a look at the fragile situation at Bank of America. The bank that was deemed too big to fail and received a $45 billion government bailout has, Taibbi argues, defrauded investors and insurers, homeowners and the unemployed.
Senior fellow at Demos, former investment banker, and author of the new novel Black Tuesday, Nomi Prins joins Matt Taibbi, contributing editor for Rolling Stone and author of Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History, in a conversation about past economic crashes and the current protests.
Event: Nomi Prins with Matt Taibbi at The Strand 7p.m. Oct. 18 (free with purchase of book or gift card)
Matt Taibbi, a contributing editor for Rolling Stone, talks about the ongoing American financial crisis, the Wall Street protests, and the commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world. His book Griftopia: A Story of Bankers, Politicians, and the Most Audacious Power Grab in American History, newly released in paperback, looks at the biggest players in the financial industry and the politicians who do their bidding.
Many eyes are on Jackson Hole, Wyoming today, as the markets wait on remarks from Federal Reserve Chairman Ben Bernanke. It was at last year's Fed Symposium that Bernanke laid the groundwork for the Fed to buy $600 billion in treasury bonds to stimulate the deflating economy. Many are hoping that this year, the Fed will unveil another economy-boosting plan. Conferences like the Fed retreat at Jackson Hole or Davos weren't always considered backdrops for major policy announcements. When did this change? And why?
Rolling Stone writer Matt Taibbi discusses his latest article, “Is the SEC Covering Up Wall Street Crimes?” For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed.
Matt Taibbi talks about his latest article for Rolling Stone magazine, "Why Isn’t Wall Street in Jail?" He reports on why Wall Street banks—the culprits behind the global financial disaster—weren’t criminally prosecuted for knowingly selling worthless mortgage-backed investments to insurance companies, state pension funds, and foreign banks.
For the final installment of our election series The Big Picture, contributing editor for Rolling Stone Matt Taibbi and New Yorker staff writer Jill Lepore discuss the results of Election Day—what happened at the polls, who won and who lost, and the state of the country. Taibbi’s new book Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America, unravels the story of financial crisis. Lepore’s new book The Whites of Their Eyes: The Tea Party's Revolution and the Battle over American History looks at American history according to the far right.
Contributing editor at Rolling Stone Magazine, Matt Taibbi weighs in on whether the punishment for Goldman Sachs is adequate. The financial giant mislead subprime mortgage investors as the housing market began to collapse. The settlement seems significant, however, it's not that much money for Goldman and, pending approval by a federal judge, the settlement will clear the company of the charges.
However the question remains: If no one is personally held accountable, will fraudulent business practices ever cease to exist? Matt Taibbi says that part of the problem is that "when these things happen, the leadership isn't prosecuted, no one goes to jail."
While much of America remains mired in a recession, Goldman Sachs is booming. The investment bank just paid back the $10 billion loan it took from the federal government last year and today Goldman is expected to announce a $2 billion dollar profit in its second quarter earnings report. How did Goldman go from bust to boom so quickly? Joining The Takeaway with their analysis are Matt Taibbi, a contributing editor to Rolling Stone, who wrote a scathing article on Goldman's practices, and Graham Bowley, a financial reporter for The New York Times. Graham's article on Goldman's expected earnings set off a market buying frenzy.
For more, read Matt Taibbi's article Inside the Great American Bubble Machine, in Rolling Stone. Also, read Graham Bowley's article, For Goldman, a Swift Return to Lofty Profits, in The New York Times.
"The entire Wall Street knows that this bank isn't going to go under because the government just isn't going to allow it."
—Matt Taibbi of Rolling Stone on the high earnings of Goldman Sachs