Wednesday, December 08, 2010

Looking at the "vampire squid" reach out again while Matt Taibbi is on Wisconsin Public Radio

The Vampire Squid Reaches Out Again"You never stop growing" -- especially if you're Goldman Sachs. I had a truly surreal moment yesterday when listening to the Kathleen Dunn Show on Wisconsin Public Radio. Her guest was Rolling Stone's brilliant journalist Matt Taibbi, talking about his book on the financial meltdown, “Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America.” It was a great show. Taibbi was as good a talker as he is a writer, and that's saying a lot. Dunn was well-prepared, asked smart questions and wasn't afraid to express appropriate outrage. And the callers were even better than usual. You can download an mp3 here or stream the show here.

While I listened I was browsing through the New York Times and came across this new ad from Goldman Sachs, the "vampire squid" of Taibbi's title. I guess they're tired of laying low. Time to go after a new batch of suckers by dangling their version of the American Dream in front of them -- you know, "give us your money and watch it grow from the bunkbed days of your childhood to the 10-acre ranch of your future." Ironically, the ad seemed to confirm one of the things Taibbi was talking about: Why did Wall Street get away with it? One reason was that what they actually did was so complicated that the American public never really understood what happened to them. Still don't. And so it's starting all over again.

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