with Chris Hedges
RT America on Oct 31, 2020
On the show this week, Chris Hedges talks to Matt Taibbi journalist and author, about the rapidly disintegrating media landscape and its consequences.
with Chris Hedges
RT America on Feb 11, 2017
On this week’s episode of On Contact, Chris Hedges examines the spectacle of the 2016 presidential election and the system that created President Donald Trump with Matt Taibbi, author of “Insane Clown President”. RT Correspondent Anya Parampil highlights some of the more absurd moments of the election season.
Book Review of Griftopia
In 2008 Wall Street feces hit the proverbial fan and sucked out trillions of US taxpayer dollars in rescuing banks criminally responsible for creating the crisis called by some the Great Recession. Griftopia by Matt Taibbi (Spiegel & Grau 2010) connects all the dots and links the key players and their roles in this criminal conspiracy which caused the domestic and international economies to implode.
Taibbi of The Rolling Stone starts slow describing the Bubble Meister, Alan Greenspan’s, connection to the ultra extreme capitalist advocate, the mediocre novelist Ayn Rand. The book delves into the crooked deals by high government officials with close Wall Street connections which determined the winners and loser in the bailout fiasco.
by Matt Taibbi
April 1, 2011
Barack Obama recently issued an executive order imposing a wave of sanctions against Libya, not only freezing Libyan assets, but barring Americans from having business dealings with Libyan banks.
So raise your hand if you knew that the United States has been extending billions of dollars in aid to Qaddafi and to the Central Bank of Libya, through a Libyan-owned subsidiary bank operating out of Bahrain. And raise your hand if you knew that, just a week or so after Obama’s executive order, the U.S. Treasury Department quietly issued an order exempting this and other Libyan-owned banks to continue operating without sanction.
Feb. 22, 2011
“Nobody goes to jail,” writes Matt Taibbi in the new issue of Rolling Stone magazine. “This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world’s wealth.” Taibbi explains how the American people have been defrauded by Wall Street investors and how the financial crisis is connected to the situations in states such as Wisconsin and Ohio.
MATT TAIBBI: Governor Kasich, yeah, and he was intimately involved with selling—getting the state of Ohio’s pension fund to invest in Lehman Brothers and buy mortgage-backed securities. And of course they lost all that money. And this, broadly, was really what the mortgage bubble and the financial crisis was all about. It was essentially a gigantic criminal fraud scheme where all the banks were taking mismarked mortgage-backed securities, very, very dangerous, toxic subprime loans, they were chopping them up and then packaging them as AAA-rated investments, and then selling them to state pension funds, to insurance companies, to Chinese banks and Dutch banks and Icelandic banks. And, of course, these things were blowing up, and all those funds were going broke. But what they’re doing now is they’re blaming the people who were collecting these pensions—they’re blaming the workers, they’re blaming the firemen, they’re blaming the policemen—whereas, in reality, they were actually the victims of this fraud scheme. And the only reason that people aren’t angrier about this, I think, is because they don’t really understand what happened. If these were car companies that had sold a trillion dollars’ worth of defective cars to the citizens of the United States, there would be riots right now. But these were mortgage-backed securities, it’s complicated, people don’t understand it, and they’re only now, I think, beginning to realize that they were defrauded.