With Mr. Taibbia's background, it's no surprise that the book has a bit of a leftist-leaning bias...but I think that shouldn't be taken as a reason to avoid the book. I mention it simply so you have some idea of the perspective the author carries into his book....and you can prepare the appropriate "bias filters" as you consider the writing. I'd offer the same warning for any detected bias...regardless of political spectrum it leans towards. I.e. don't read only those that agree with you....and be EXTRA careful about your "bias filters" when you're reading those whom you agree with...sneaky mindfucks creep in too often in such moments of letting your guard down.
Nonetheless, having worked in the mortgage industry during the sub-prime boom that lead up to the 2008 crash, and being closely involved in that industry during the crash, I assure you that much of what Griftopia describes is accurate. I would differ with some of the descriptions, opinions and conclusions the book presents, yet overall, the main point he makes and the tone of his writing make the book a worthy read for anyone who wasn't intimately involved with the high level financial shenanigans that went down. For the rest of us, Matt explains the overall arc of this recent international financial scam in his entertaining and accessible writings. Sadly, the overall arc is a description of how, yet again, the powers that be have pulled a giant con on the masses, enriching themselves at the expense of the common man and his offspring for generations to come.
Today I stumbled upon this article in the NY Times regarding a recent investigative report from the Inspector General of the Justice Department. Although its focus is on fraud closer to the loan origination side than Griftopia's (which covers the BILLIONS of dollars swindled via the treasury and the financial markets), it still is sickening in its revelations of the scope of the problems. The report, “Audit of the Department of Justice’s Efforts to Address Mortgage Fraud,” emphasizes how our law enforcement and regulatory agencies are at best, incompetent in the face of "white-collar" criminals, or quite possibly, complacent in the fleecing of the American taxpayer (and other victims around the world) via corruption throughout our government and financial entities.
Religion and sex are power plays
Manipulate the people for the money they pay
Selling skin, selling God
The numbers look the same on their credit cards
Politicians say no to drugs
While we pay for wars in South America
Fighting fire with empty words
While the banks get fat
And the poor stay poor
And the rich get rich
And the cops get paid to look away
As the one percent rules America
- Spreading the Disease, Operation Mindcrime - Queensrÿche
