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Friday, December 18th, 2009

I recently castigated Glenn Greenwald for the umpteenth time for distorting the world to fit his ideological lens. He, like a significant portion of the left, seems to have turned on Obama. Despite his claims to judge politicians on a case-by-case basis and not to give them support or opposition based on their history, it is clear that Greenwald’s recent attempts at rationally ranting about Obama have a strong emotional core; I extrapolate this from the somewhat tortured manner in which he caricatures the positions of Obama and Obama’s supporters in order to take them down, and the eagerness with which he seems to try to get to his rants in which he loses the remaining bits of common sense he has. Thus, it isn’t that exceptional that he endorsed Matt Taibbi’s recent piece on the Obama administration. While Taibbi is sloppier than Greenwald – and lacks the “fair” persona that Greenwald sometimes adopts – both have a core position: they are anti-establishmentarian. Taibbi though writes news rather than opinion journalism and constantly hides behind the (no-doubt vigorous) fact-checking of his pieces by Rolling Stone – but his most egregious errors are implicit. He writes as if insinuation were fact, which makes him difficult to take seriously whether he is writing about AIG or Goldman Sachs or Obama. And his constant mode is paranoid conspiracy theorist – which certainly fits the moment. Perhaps the best response to Taibbi was to call him the “Sarah Palin of journalism.” And he certainly demonstrated that out-of-the-gate with his first sentence responding to critics:

When we went to print with the latest Rolling Stone piece about Obama’s economic hires, a couple of my sources advised me to expect some nastiness in the way of a response from Obama apologists.

Like Palin, Taibbi defends himself by pointing out who his enemies are, as if their existence makes him right. Granted, Taibbi is a better writer than Palin – and doubtless is better informed. But what he does with his knowledge is create elaborate conspiracy theories embedded in the colorful opinions he gives throughout his news:

The point is that an economic team made up exclusively of callous millionaire-assholes has absolutely zero interest in reforming the gamed system that made them rich in the first place.

Go ahead – fact check that! The main point of his most recent piece seems to be the pernicious effect of Clinton Treasury Secretary, former Goldman Sachs head, and Citibank big shot, Robert Rubin. A good article could be written about this – but Taibbi chose instead to write a piece about Obama’s hypocrisy demonstrated by his embrace of Rubin’s mentees. Taibbi accomplishes this with a quick bait-and-switch, describing the vague hopes people had for Obama during the campaign – that he was “a man of the people” – and then deftly pivoting:

Then he got elected.

What’s taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history.

Now – this assertion is the core contention Taibbi makes – yet he entirely fails to do several things: (1) to describe what Obama actually campaigned on; (2) to fairly or honestly describe the Rubin/New Democratic positions; or (3) to describe accurately the attempts made by Obama to reign in the financial industry. Instead, Taibbi merely lists the many people who worked for Rubin at some point who now work for Obama as if that proved the audacious opinions he starts his piece with. His entire piece would work better as a footnote supporting one contention in his three paragraph opening.

Tim Fernholz also writes a good piece taking on Taibbi’s anti-Obama screed.

Andrew Leonard of Salon provided a pretty good summary of Taibbi in general:

It’s the classic Taibbi approach: vastly and sloppily overstate the case in absurd, over-the-top rhetoric while ignoring any possible counterargument.

But Ezra Klein as always has an extremely intelligent take:

But in this case, Taibbi chose a swift-moving narrative at the expense of an accurate picture of how — and more importantly, where — Wall Street is capturing the political process.

The issue here is not that Taibbi should be nicer to the Obama administration, which is how he’s framing most of the criticism of his article. Quite the opposite, actually. Taibbi is being much too nice to the Obama administration. He’s imbued them with a lot more power than they have.

If the result of the 2010 election is that Obama fires his economics team and moves his administration to the left, but the Republicans pick up 60 seats on the House and move the body to the right, then American public policy outcomes move to the right.

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Posted in Barack Obama, Criticism, Economics, Financial Crisis, Politics, The Opinionsphere | 49 Comments »

Fact-Checking Taibbi: The Sarah Palin of Journalism?

Tuesday, August 18th, 2009

Having cited Matt Taibbi’s well-read Rolling Stone article on Goldman Sachs in a few previous posts, it’s worth taking some time to air some fact-checks of it. (Complete article here.) Megan McCardle has dubbed Matt Taibbi “the Sarah Palin of journalism”  but I wonder what this makes McCardle – whose feeling-based objections to any of the health care reforms on the table seem different only in tone than Taibbi’s hysteric rants on financial companies.

Which is why I cite this article at The Big Money instead – which takes a fact-based rather than feeling-based – look at Taibbi’s article. The takeaway by Heidi Moore is about what I suspected:

The mammoth article disappointingly failed to provide the smoking gun that so many people on Wall Street—who have envied and admired and hated Goldman for much of this decade—would have been delighted to see.

Moore’s piece also points out some of the ways in which Taibbi’s article is misleading – and it’s worth a read. Unfortunately, I do not know have the expertise in the subject to adjudicate these disputes – which essentially involve whether Goldman Sachs was a player or the main player in these various financial disasters.

It’s worth taking a look at Moore’s piece if you were one of the many who has read Taibbi’s. But I think it was pretty clear to anyone reading Taibbi’s piece that it was deliberately over-the-top and overstated.

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Posted in Economics, Financial Crisis, Politics, The Opinionsphere | 51 Comments »

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