Matt Taibbi

DEFINITION of 'Matt Taibbi'

Matt Taibbi is a liberal author, columnist and political commentator. He is best known for his July 2009 article "The Great American Bubble Machine" for Rolling Stone magazine, in which he described Goldman Sachs as a "great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money." It was expanded in 2010 into a book entitled "Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America."

BREAKING DOWN 'Matt Taibbi'

The son of former NBC news reporter Mike Taibbi, Matt Taibbi was born in 1970 and grew up in the Boston, Massachusetts, area. The younger Taibbi spent a year and a half studying at Saint Petersburg Polytechnical University in Russia, and graduated from Bard College in Annandale-on-Hudson, New York, in 1992. He spent several years as a reporter for the English-language Moscow Times before joining the satirical bi-weekly "The eXile," which was primarily aimed at the expatriate population in Russia.

Taibbi co-founded a satirical bi-weekly called The Beast in Buffalo, New York, in 2002 but left after several years to focus on writing. He freelanced for The Nation, Playboy and New York Press before becoming a contributing editor and regular columnist for Rolling Stone in 2005. Taibbi briefly left Rolling Stone in 2014 to join First Look Media's planned anti-corruption publication The Racket, but returned to Rolling Stone when management disputes led to the publication's cancellation.

He reported on the 2008 U.S. Presidential election for HBO's "Real Time With Bill Maher" and has been a frequent guest on MSNBC's "The Rachel Maddow Show."

Financial and Political Writing

Taibbi developed a strong interest in the then-developing financial market crisis while covering the 2008 election for Rolling Stone and Real Time. His July 2009 "vampire squid" article for Rolling Stone has been widely quoted, and was expanded into his successful book "Griftopia," which examined the background of the economic collapse, the bailout and Goldman Sachs' role in it. He went on to report and write extensively for Rolling Stone on the LIBOR price-fixing scandal in 2012 and 2013, describing it as potentially the biggest fraud in history.

Taibbi's 2014 book "The Divide: American Injustice in the Age of Wealth" examines the increasing concentration of wealth in the United States at a time when crime has gone down sharply while the prison population has doubled. He contrasts fraud by the extremely wealthy with stories of ordinary people caught up in the criminal justice system. His other books include "The Great Derangement: A Terrifying True Story of War, Politics, and Religion," the essay collection "Smells Like Dead Elephants: Dispatches From a Rotting Empire" and the 2004 Presidential election memoir "Spanking the Donkey: Dispatches From the Dumb Season."

RELATED TERMS
  1. Richard Stone

    Richard Stone is a British economist who won the 1984 Nobel Memorial ...
  2. Rolling Returns

    The annualized average return for a period ending with the listed ...
  3. Roll Back

    In options trading, exiting one position and entering a new one ...
  4. Options Roll Up

    The move from one option position to another that has a higher ...
  5. Gemology

    The combined art and science of studying, cutting, valuing, buying ...
  6. Tax Roll

    A breakdown of all property within a given jurisdiction, such ...
Related Articles
  1. Economics

    Memorable Money Quotes Of 2009

    Quotes on money, markets and the economy in 2009.
  2. Options & Futures

    Introduction To Gemology

    Gemology as an investment alternative may seem glamorous, but it's not for the faint of heart.
  3. Personal Finance

    The Big Business Of Vampires

    Franchises like "Twilight," "True Blood," and even parodies like "Vampires Suck" are raking in millions at a time when discretionary spending is low.
  4. Fundamental Analysis

    The Market And Presidential Promises

    How can the presidential election affect your portfolio? Find out here.
  5. Taxes

    Tips For Moving Retirement Plan Assets

    Moving assets is common when changing jobs or retiring, but you have to do this carefully to avoid penalties.
  6. Investing

    The Beginner's Guide To Growing Your Retirement Income

    As long-time readers may know, back in December 2009 I began an ambitious experiment. My mission: take $200,000 of StreetAuthority's money and invest it in a stable, growing portfolio of dividend-paying ...
  7. Investing News

    Goldman Sachs See Short-Term Pull Back in Stocks (GS)

    Goldman Sachs' research article suggests some short-term volatility before market stabilization into year end.
  8. Insurance

    Goldman Sachs: Unusual Earnings For An Unusual Company

    Goldman Sachs alumni have an unprecedented history of seamlessly moving from private to public service. Here's a short list of a few notable examples.
  9. Personal Finance

    How Wealthy Are The Presidential Candidates?

    Here's an overview of where their money comes from and who makes the most.
  10. Professionals

    The Evolution Of Goldman Sachs

    The fraud allegations against them have tarnished the reputation of the firm. But how exactly did they get to this point?
RELATED FAQS
  1. I want to roll over a portion of my retirement plan with my employer and I have been ...

    This is based on the rules that an individual can roll over a portion of his or her retirement plan balance, rather than ... Read Answer >>
  2. What types of rollovers are reported as taxable income to the IRS?

    I have a tax-sheltered 403b annuity that I cannot contribute to anymore because I changed employers five years ago. After ... Read Answer >>
  3. How did Warren Buffett get started in business?

    Warren Buffett may have been born with business in his blood. He started saving while other children were at the playground, ... Read Answer >>
  4. What happens to my 401(k) plan if I switch jobs?

    Roll over your old 401(k) plan to your new 401(k) plan or an IRA, cash it out, or leave it alone. Which option is right for ... Read Answer >>
  5. What does it mean to roll a derivative contract?

    Find out more about derivative securities, how to roll forward a derivative contract and what it means when a derivative ... Read Answer >>
  6. I have a 403(b) from a old employer. I would like to convert it to a 401(k). How ...

    The IRS says that you can roll a 403(b) plan into a 401(k) plan if you now work for an employer that offers a 401(k) plan. ... Read Answer >>
Hot Definitions
  1. Demand Curve

    The demand curve is a graphical representation of the relationship between the price of a good or service and the quantity ...
  2. Goldilocks Economy

    An economy that is not so hot that it causes inflation, and not so cold that it causes a recession. This term is used to ...
  3. White Squire

    Very similar to a "white knight", but instead of purchasing a majority interest, the squire purchases a lesser interest in ...
  4. MACD Technical Indicator

    Moving Average Convergence Divergence (or MACD) is a trend-following momentum indicator that shows the relationship between ...
  5. Over-The-Counter - OTC

    Over-The-Counter (or OTC) is a security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, ...
  6. Quarter - Q1, Q2, Q3, Q4

    A three-month period on a financial calendar that acts as a basis for the reporting of earnings and the paying of dividends.
Trading Center