By Matt Taibbi
NEW YORK occasions BESTSELLER • NAMED the best BOOKS OF THE yr through THE WASHINGTON POST, NPR, AND KIRKUS REVIEWS
A scathing portrait of an pressing new American crisis
during the last 20 years, the US has been falling deeper and deeper right into a statistical mystery:
Poverty is going up. Crime is going down. The criminal inhabitants doubles.
Fraud by means of the wealthy wipes out forty percentage of the world’s wealth. the wealthy get hugely richer. nobody is going to jail.
looking for an answer, journalist Matt Taibbi chanced on the Divide, the seam in American lifestyles the place our such a lot troubling trends—growing wealth inequality and mass incarceration—come jointly, pushed by way of a dramatic shift in American citizenship: Our simple rights are actually made up our minds by means of our wealth or poverty. The Divide is what permits hugely harmful fraud through the hyperwealthy to move unpunished, whereas turning poverty itself right into a crime—but it’s very unlikely to work out till you examine those alarming traits facet via side.
In The Divide, Matt Taibbi takes readers on a galvanizing trip via each side of our new process of justice—the fun-house-mirror worlds of the untouchably prosperous and the criminalized terrible. He uncovers the startling looting that preceded the monetary cave in; a wild conspiracy of billionaire hedge fund managers to smash an organization via soiled methods; and the tale of a whistleblower who will get within the approach of the biggest banks in the US, basically to discover herself within the crosshairs. at the different aspect of the Divide, Taibbi takes us to front strains of the immigrant dragnet; into the newly punitive welfare approach which treats its beneficiaries as thieves; and deep contained in the stop-and-frisk global, the place status in entrance of your house has develop into an arrestable offense. As he narrates those fabulous tales, he attracts out and analyzes their universal resource: a perverse new commonplace of justice, in keeping with an intensive, anxious new imaginative and prescient of civil rights.
via astonishing—and enraging—accounts of the high-stakes capers of the rich and nightmare tales of standard humans stuck within the Divide’s punishing common sense, Taibbi lays naked one of many maximum demanding situations we are facing in modern American existence: surviving a process that devours the lives of the bad, turns a blind eye to the harmful crimes of the rich, and implicates us all.
Praise for The Divide
“Ambitious . . . deeply stated, hugely compelling . . . most unlikely to place down.”—The manhattan occasions booklet Review
“These are the tales that might continue you up at evening. . . . The Divide is not only a file from the recent the United States; it really is advocacy journalism at its finest.”—Los Angeles Times
“Taibbi is a continuing investigative reporter. he is taking readers inside of not just funding banks, hedge cash and the blood activity of short-sellers, yet into the lives of the needy, minorities, road drifters and unlawful immigrants. . . . The Divide is a crucial ebook. Its documentation is robust and shocking.”—The Washington Post
“Captivating . . . The Divide enshrines its author’s place as the most vital voices in modern American journalism.”—The Independent (UK)
“Taibbi [is] probably the best reporter on Wall Street’s crimes within the smooth era.”—Salon
From the Hardcover edition.
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Additional info for The Divide: American Injustice in the Age of the Wealth Gap
Congressional aides to this present day shaggy dog story approximately Breuer, who used to be frequently the liaison among pursuits of congressional investigations and the younger apartment and Senate aides who have been crawling up his consumers’ backsides. “The man might name you up overdue at evening and go away messages, and he’d speak during this quite sluggish, whiny voice,” says one former condo aide. “He’d be like, ‘Hi, this can be Len-n-n-ny, we’ve, uh, bought that rfile you have been soliciting for. ’ ” The aide nicknamed Breuer “Jon Lovitz” due to his voice and “the total effect that the fellow was once a pussy,” as he positioned it. while Breuer used to be appointed in Obama’s first time period to go the dept of Justice’s felony department, staffers at the Hill have been stunned. “This is a company flack who used to be one of these 0, you had twenty-five-year-olds in Congress who wouldn’t go back his cell calls,” remembers one. “And all at once all of us search for, and he’s head of the felony department of the Justice division. We’re all like, ‘How did that take place? ’ ” So Breuer was once now at the different facet of the aisle, now not protecting a up to date goal of a Senate inquiry, yet prosecuting one. HSBC previous that summer time were raked over the coals through the notoriously uncompromising everlasting Subcommittee on Investigations, led by means of irascible Michigan Democrat Carl Levin. by the way, Levin’s committee, which had no prosecutorial energy, had on a number of events because the monetary situation attempted to jump-start felony indictments or regulatory activities by way of venture lengthy investigations that organisations just like the SEC, the OCC, and the Justice division appeared reluctant to do themselves. while the FBI used to be out chasing Roger Clemens for perjury, Levin’s team used to be creating a case in a long record that Lloyd Blankfein and different Goldman officers had lied to Congress. while the SEC and the OCC and the CFTC have been gradual to move after the banks, by-product purchasers, and residential creditors chargeable for the sweeping fraud within the loan situation, Levin’s committee amassed facts opposed to corporations like Washington Mutual, Deutsche financial institution, and others. however the Senate had no energy to truly do whatever except shine a mild. It had performed so back within the HSBC case, and now, it seems that, the Justice division was once really going to stick with up for as soon as. yet how? Breuer paused prior to starting his comments. He opened with a couple of niceties and introductions, then bought correct to the purpose. “HSBC is being held chargeable for gorgeous disasters of oversight—and worse—that led the financial institution to allow narcotics traffickers and others to launder thousands of hundreds of thousands of greenbacks via HSBC subsidiaries,” Breuer informed the ready press. “The checklist of disorder that prevailed at HSBC for a few years was once awesome. this day, HSBC is paying a heavy cost for its behavior, and, below the phrases of today’s contract, if the financial institution fails to conform with the contract whatsoever, we …” journalists checked out one another. We what? “We reserve the appropriate to completely prosecute it,” Breuer went on. shocked silence fell over the room. Did they only listen him correct?