All the Devils Are Here - The Hidden History of the Financial Crisis

The time was the 1980s. The place was Wall Street. The game was called Liar’s Poker.

A brilliantly illuminating and darkly comic tale of the ongoing financial and political crisis in America
 
The financial crisis that exploded in 2008 isn’t past but prologue. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power, and the crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life.

Matt Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing account yet written of this ongoing American crisis. He offers fresh reporting on the backroom deals of the bailout; tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity”; and uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world.

This is essential reading for anyone who wants to understand the labyrinthine inner workings of this country, and the profound consequences for us all.

At the core of Obama’s Wars is the unsettled division between the civilian leadership in the White House and the United States military as the president is thwarted in his efforts to craft an exit plan for the Afghanistan War.   

 “So what’s my option?” the president asked his war cabinet, seeking alternatives to the Afghanistan commander’s request for 40,000 more troops in late 2009.  “You have essentially given me one option. ...It’s unacceptable.”  

 “Well,” Secretary of Defense Robert Gates finally said, “Mr. President, I think we owe you that option.”   

It never came. An untamed Vice President Joe Biden pushes relentlessly to limit the military mission and avoid another Vietnam. The vice president frantically sent half a dozen handwritten memos by secure fax to Obama on the eve of the final troop decision.   

President Obama’s ordering a surge of 30,000 troops and pledging to start withdrawing U.S. forces by July 2011 did not end the skirmishing.   

General David Petraeus, the new Afghanistan commander, thinks time can be added to the clock if he shows progress.  “I don’t think you win this war,” Petraeus said privately.  “This is the kind of fight we’re in for the rest of our lives and probably our kids’ lives.”   

Hovering over this debate is the possibility of another terrorist attack in the United States. The White House led a secret exercise showing how unprepared the government is if terrorists set off a nuclear bomb in an American city—which Obama told Woodward is at the top of the list of what he worries about all the time.   

Verbatim quotes from secret debates and White House strategy sessions—and firsthand accounts of the thoughts and concerns of the president, his war council and his generals—reveal a government in conflict, often consumed with nasty infighting and fundamental disputes.   

Woodward has discovered how the Obama White House really works, showing that even more tough decisions lie ahead for the cerebral and engaged president.