This past year, The Big Short, a movie about Wall Street greed and myopia, channelled middle class anger at the one percent. After laughing for a few hours, most people emerged from the theater both nauseated and confused, wondering how supposedly smart people could be so stupid as to nearly bring down the global economy. Ironically, the film’s heroes—renegades within the financial industry who made big money betting against conventional wisdom—were the people who made out like bandits as pretty much everyone else suffered. But they weren’t crooks. They made a straight bet to short the market based on what they saw happening.
Matt Taibbi’s Griftopia, on the other hand, is about the crooks. And if The Big Short made you upset, Griftopia will make you want to scream like a hungover stockbroker berating a barista for forgetting the third espresso shot.Continue reading