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Griftopia
''Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America'' is a 2010 book by American political journalist Matt Taibbi about the events that led to the financial crisis of 2008. It argues that the crisis was not an accident of the free market but the result of a complex and ongoing politico-financial process taking place in the United States whereby wealth and power are transferred to a super-rich "grifter class" that holds a grip on the political process. Taibbi maintains that "all of us, conservatives and progressives, are being bled dry by a tiny oligarchy of extremely clever criminals and their castrato henchmen in government." Critical reception was mixed. One observer described ''Griftopia'' as "necessary ... corrective" of the assertion that bubbles are inevitable in the market system, and another review said the book contests the idea greed of the American consumer was a primary cause of the problem. More negative reviews described '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Matt Taibbi
Matthew Colin Taibbi (; born March 2, 1970) is an American author, journalist, and podcaster. He has reported on finance, media, politics, and sports. A former contributing editor for ''Rolling Stone'', he is an author of several books, co-host of ''Useful Idiots'', and publisher of the newsletter ''TK News'' on Substack. Taibbi began as a freelance reporter working in the former Soviet Union, including a period in Uzbekistan, from where he was deported for criticizing President Islam Karimov. Taibbi later worked as a sports journalist for the English-language newspaper ''The Moscow Times''. He also played professional baseball in Uzbekistan and Russia as well as professional basketball in Mongolia. In 1997, he moved back to Russia to edit the tabloid ''Living Here'', but eventually left to co-edit rival tabloid ''The eXile''. Taibbi returned to the United States in 2002 and founded the Buffalo-based newspaper '' The Beast''. He left a year later to work as a columnist for the '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Greenspan
Alan Greenspan (born March 6, 1926) is an American economist who served as the 13th chairman of the Federal Reserve from 1987 to 2006. He works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First nominated to the Federal Reserve by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position, behind only William McChesney Martin. President George W. Bush appointed Ben Bernanke as his successor. Greenspan came to the Federal Reserve Board from a consulting career. Although he was subdued in his public appearances, favorable media coverage raised his profile to a point that several observers likened him to a "rock star". Democratic leaders of Congress criticized him for politicizing his office because of his support for Social Security privatization and tax cuts. Many have argued that the "easy-money" polic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spiegel & Grau
Spiegel & Grau was originally a publishing imprint of Penguin Random House founded by Celina Spiegel and Julie Grau in 2005. On January 25, 2019, Penguin Random House announced that the imprint was being shut down and the two founders were leaving. While commercially successful, the imprint "became yet another casualty of corporate restructuring," according to the ''New York Times''. In 2020, founders Celina Spiegel and Julie Grau resurrected their publishing house under the name Spiegel & Grau. They said the independent publisher will produce 15 to 20 books a year, as well as original audiobooks and podcasts. Authors Writers whose work has been published under its imprint include the following: * Saher Alam''The Groom to Have Been'', winner of the 2008 Janet Heidinger Kafka Prize * Jennifer Arnold * M. K. Asante * Tash Aw'' Map of the Invisible World'' (2008) * Stephen Batchelor * Dan Baum * Elaine Beale * Nate Berkus * Anthony Bozza * Diane Brady * Joseph Br ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revolving Door (politics)
In politics, a revolving door is a situation in which personnel move between roles as legislators and regulators, on one hand, and members of the industries affected by the legislation and regulation, on the other, analogous to the movement of people in a physical revolving door.It also includes the movement of government personnel into lobbying firms working for these industries, and vice versa. In some cases, the roles are performed in sequence, but in certain circumstances they may be performed at the same time. Political analysts claim that an unhealthy relationship can develop between the private sector and government, based on the granting of reciprocated privileges to the detriment of the nation, and can lead to regulatory capture. The term has also been used in a different context, to refer to the constant switching and ousting of political leaders from offices such as in Australia (which changed Prime Ministers 6 times from 2007-2018) and Japan. Overview Previo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Public Offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as ''floating'', or ''going public'', a privately held company is transformed into a public company. Initial public offerings can be used to raise new equity capital for companies, to monetize the investments of private shareholders such as company founders or private equity investors, and to enable easy trading of existing holdings or future capital raising by becoming publicly traded. After the IPO, shares are traded freely in the open market at what is known as the free float. Stock exchanges stipulate a minimum free float both in absolute terms (the total value as determined by the share price multiplied by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rolling Stone
''Rolling Stone'' is an American monthly magazine that focuses on music, politics, and popular culture. It was founded in San Francisco, California, in 1967 by Jann Wenner, and the music critic Ralph J. Gleason. It was first known for its coverage of rock music and political reporting by Hunter S. Thompson. In the 1990s, the magazine broadened and shifted its focus to a younger readership interested in youth-oriented television shows, film actors, and popular music. It has since returned to its traditional mix of content, including music, entertainment, and politics. The first magazine was released in 1967 and featured John Lennon on the cover and was published every two weeks. It is known for provocative photography and its cover photos, featuring musicians, politicians, athletes, and actors. In addition to its print version in the United States, it publishes content through Rollingstone.com and numerous international editions. Penske Media Corporation is the current ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anti-trust Legislation
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Care Reform In The United States
Healthcare reform in the United States has a long history. Reforms have often been proposed but have rarely been accomplished. In 2010, landmark reform was passed through two federal statutes enacted in 2010: the Patient Protection and Affordable Care Act (PPACA), signed March 23, 2010, and the Health Care and Education Reconciliation Act of 2010 (), which amended the PPACA and became law on March 30, 2010. Future reforms of the American health care system continue to be proposed, with notable proposals including a single-payer system and a reduction in fee-for-service medical care. The PPACA includes a new agency, the Center for Medicare and Medicaid Innovation (CMS Innovation Center), which is intended to research reform ideas through pilot projects. History of national reform efforts The following is a summary of reform achievements at the national level in the United States. For failed efforts, state-based efforts, native tribes services, and more details, see the hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The Financial contagion, economic contagion began around September and led to the Wall Street Crash of 1929, Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide Gross domestic product, gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speculation
In finance, speculation is the purchase of an asset (a commodity, goods, or real estate) with the hope that it will become more valuable shortly. (It can also refer to short sales in which the speculator hopes for a decline in value.) Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. In principle, speculation can involve any tradable good or financial instrument. Speculators are particularly common in the markets for stocks, bonds, commodity futures, currencies, fine art, collectibles, real estate, and derivatives. Speculators play one of four primary roles in financial markets, along with hedgers, who engage in transactions to offset some other pre-existing risk, arbitrageus who seek to profit from situations where fungible instruments trade at different prices in different market segments, and investors who seek profit through long-term ownership of an instrument's underlying attributes. Hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2007–2008 World Food Price Crisis
World food prices increased dramatically in 2007 and the first and second quarter of 2008, creating a global crisis and causing political and economic instability and social unrest in both poor and developed nations. Although the media spotlight focused on the riots that ensued in the face of high prices, the ongoing crisis of food insecurity had been years in the making.How do Food Prices Affect Producers and Consumers in Developing Countries? , ICTSD, Information Note Number 10, September 2009UN Food and Agriculture Organization (2009). The State of Food Insecurity in the World 2009. Rome. Systemic causes for the worldwide increases in food prices continue to be the subjec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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