#1114 - Matt Taibbi

Episode Timestamps

• 00:00:00

  Joe Rogan and Anonymous Drug Dealer Discuss 'The Business Secrets of Drug Dealing'

  • Joe Rogan interviews an anonymous former high-level drug dealer who shares insight into his life and career.
  • The dealer recounts the beginning of his journey selling mushrooms and his evolution into the legal cannabis business.
  • The conversation addresses misconceptions about drug dealing and the real dynamics of the drug market.
• 00:13:07

  Insights on Drug Pricing and Avoiding Law Enforcement with Joe Rogan

  • The dealer explains the concept of 'hood price' and how different markets affect pricing and risk.
  • Rogan and the dealer discuss how to avoid getting caught by the police, including strategic disguises and behaviors.
  • The dealer emphasizes the importance of having a legitimate job as a cover and for developing self-discipline.
• 00:14:05

  Jeff Sessions and Donald Trump's Cruel Immigration Policies

  • The speaker criticizes Jeff Sessions for his harsh stance on immigration, suggesting he promotes cruel policies towards children of immigrants.
  • The discussion reflects on Trump's superficial understanding of immigration, showing how he capitalizes on public sentiment against immigrants.
  • The impact of Trump's unpredictable decision-making is highlighted, emphasizing a lack of coherent policy direction.
• 00:24:55

  Donald Trump's Diet Pill Controversy and Health Concerns

  • The text delves into allegations about Trump's use of diet pills prescribed for a non-existent condition, raising questions about his health.
  • The conversation recalls the dangers of the diet pill Fen Fen and connects it to Trump's rumored current medication.
  • The speaker notes Trump's unusual energy levels for his age, attributing it in part to diet and caffeine consumption, leading to concerns over his health management.
• 00:27:09

  Donald Trump's Derivatives: The Pharmaceutical Energy Behind His Presidency

  • Discussion on Donald Trump's campaign trail endurance compared to others, suggesting possible stimulant use.
  • Historical reference to JFK's amphetamine use and its implications on presidential decision-making.
  • Concerns about the potential dangers of a president under pharmaceutical influence, highlighting Trump's prescription history.
• 00:30:54

  The Dark Side of Donald Trump: Diet, Drugs, and Presidential Presentation

  • Trump's diet and lifestyle habits are called into question, noting his use of amphetamines for energy.
  • Insight into the role of stimulants in politics, with comparisons to other public figures like Hillary Clinton.
  • Speculation about the psychology and health implications of Trump's pharmaceutical use on his presidency and decision-making.
• 00:37:39

  The Dangerous Prescription: Adderall, Prozac, and the Legacy of Big Pharma's Influence

  • Discussion on the widespread prescription of Adderall and Prozac, raising concerns about over-medication in children.
  • Critique of pharmaceutical companies profiting from opioid addiction, referencing the opioid crisis as a potential epidemic.
  • Call for accountability for pharmaceutical companies and comparisons to past scandals like the tobacco industry's deception.
• 00:39:35

  The Decline of Journalism: Fake News, Clickbait, and the Struggle for Credible Reporting

  • Examination of current media landscape, noting the prevalence of 'fake news' and how it often stems from slanted reporting.
  • Reflection on the transition from print to digital journalism, and the impact of platforms like Google and Facebook on content consumption.
  • Concerns about the diminishing quality of investigative journalism and the challenge of monetizing news in a digital age.
• 00:49:05

  Napster and BitTorrent’s Impact on the Music and Film Industries

  • The introduction of Napster changed consumer expectations about content accessibility, leading to a culture of expecting free content.
  • BitTorrent further popularized the idea of freely downloading movies and music, altering how creators monetize their work.
  • Content creators struggle financially as audiences are conditioned to avoid paying for content they can find for free.
• 00:55:48

  Lil Tay: The Epitome of Modern Viral Fame

  • Lil Tay, a 9-year-old internet sensation, exemplifies the bizarre direction of contemporary fame through her wealth display and social media antics.
  • The discussion highlights the rapid rise of stars like Lil Tay while criticizing societal values reflected in their popularity.
  • The comedians reflect on the implications of this trend, warning about the future of culture and intelligence in leadership positions.
• 00:59:48

  George W. Bush's Reasonable Response to Supreme Court Ruling vs. Trump's Unconventional Politics

  • George W. Bush accepted a Supreme Court ruling that went against his administration's wishes, demonstrating a standard of respect for the judicial process.
  • The contrast is drawn with Donald Trump's political style, which is described as lacking this level of decorum.
  • The discussion highlights the shift in political norms and celebrity culture during Trump's presidency, including Little Tay's proposed visit to the White House.
• 01:03:20

  Trump as the Internet President: A New Era of Political Engagement and Concerns

  • Donald Trump is characterized as the first 'internet president,' bypassing traditional political systems to attain his position.
  • The dialogue raises concerns about the implications of a popularity contest determining presidential power, questioning the sanity of such electoral practices.
  • A call is made for reevaluation of the political system, emphasizing that it needs structural changes in response to modern challenges and complexities.
• 01:13:47

  George Clooney's Fundraising Dinner and Rosie O'Donnell's Political Donations

  • Discussions around celebrity-hosted fundraising dinners, specifically mentioning George Clooney, aimed at boosting presidential campaign contributions.
  • Rosie O'Donnell's political donations to various candidates, including Doug Jones and Adam Schiff, lead to debates about legality and limits on contributions.
  • Concerns raised over the overwhelming influence of money in politics following the Citizens United ruling, emphasizing the power of wealthy individuals and organizations.
• 01:56:12

  Donald Trump's Media War: Targeting Journalists and Hollywood

  • Analysis of Donald Trump's strategic attacks on media and Hollywood elites to gain public support, tapping into widespread disdain for these groups.
  • Comparison between Trump and Nixon regarding their adversarial relationships with journalists, highlighting Trump's unconventional approach.
  • Discussion of the challenges reporters face in maintaining integrity while covering politicians they may have personal interactions with.
• 01:13:47

  Dangerous Times: The Doomsday Clock and North Korea's Tensions in 2023

  • The Doomsday Clock is set at the most dangerous point since 1953, as assessed by the organization Physicians for Social Responsibility.
  • Current tensions between the U.S. and North Korea are considered more dangerous than events like the Cuban Missile Crisis.
  • The Doomsday Clock serves as an indicator of global threat levels, echoing sentiments from analysts and the public.
• 01:56:12

  Donald Trump's Campaign: From Media Circus to Mainstream Entertainment

  • Donald Trump transformed campaign coverage into a media spectacle, drawing significant viewership and advertising revenue.
  • His outrageous comments often ensured extensive media coverage, which effectively resulted in free publicity.
  • Candidates like Ted Cruz struggled to navigate the shifting media landscape created by Trump's unprecedented approach to campaigning.
• 01:13:47

  Hunter S. Thompson's Influence on Political Journalism in the 1972 Election

  • Hunter Thompson used his unique style to propel George McGovern into the political spotlight during the 1972 election.
  • Thompson's outrageous coverage in Rolling Stone turned mundane campaign events into engaging narratives.
  • His influence on journalism introduced a blend of humor and deep analysis that remains unmatched.
• 02:23:18

  The 2008 Financial Crisis: A Crime Story Unveiled by Investigative Journalism

  • The financial crisis was characterized by fraudulent practices, likened to the sale of worthless loans as safe investments.
  • The discussion highlighted how dangerous subprime loans were repackaged as AAA-rated securities, deceiving investors.
  • The consequences of the crisis were felt by ordinary people, exemplified by the tragic story of a neighbor who lost his dreams due to the economic collapse.
• 01:09:16

  Investigative Reporting on Elderly Black Victims: The Subprime Mortgage Crisis

  • The financial press lacks representation for ordinary people, leading to a critical need for accessible financial reporting.
  • A national bank in Maryland was found guilty of targeting elderly Black individuals for subprime mortgages, with internal communications revealing racist attitudes.
  • The subprime crisis disproportionately affected lower-middle-class neighborhoods, causing financial ruin for many who did not understand the risks of refinancing their mortgages.
• 01:17:06

  HSBC's Criminal Activity: Laundering Money for Drug Cartels with No Consequences

  • HSBC admitted to laundering $850 million for drug cartels but faced minimal repercussions, highlighting systemic failures in prosecuting white-collar crime.
  • The involvement of top executives in criminal activities was overlooked, and settlements did not reflect actual accountability.
  • The proliferation of financial instruments like credit default swaps contributed to the 2008 financial crisis, revealing a gambling-like economy devoid of regulation.
• 01:13:47

  Financial Scandals and Bubbles: The Warnings from Experts Like Warren Buffett

  • Discussion on the dangers of financial contracts and lack of banking options, referencing past scandals.
  • Concerns raised about subprime auto loans and credit bubbles in America, echoing worries about repeated economic cycles.
  • Warren Buffett's significant investments in companies like Theranos and the lessons learned from major financial failures.
• 01:56:12

  Fraud and Oversight Failures: Exposing the Dark Side of Wall Street with Bernie Madoff and Others

  • Bernie Madoff’s fraudulent practices highlight the lack of oversight in financial institutions, impacting wealthy investors.
  • Discussion of other prominent scams like Theranos and the inefficacy of regulatory bodies in preventing massive fraud.
  • Comparison of enforcement on small-time criminals versus large-scale financial fraudsters, illustrating a disparity in scrutiny.
• 01:35:45

  AIG's Downfall: How Regulatory Failures Led to the Insurance Giant's Collapse

  • AIG chose to be regulated by the Office of Thrift Supervision (OTS), which had only one insurance expert.
  • The company's collapse was due to its complex derivative operations that were poorly understood by its leadership.
  • AIG functioned as a major player in betting against mortgage failures, leading to massive payout liabilities when bets went wrong.
• 01:38:37

  Understanding AIG: Insider Perspectives on the Risks of Complex Insurance Products

  • AIG sold insurance products that allowed banks to bet against mortgage defaults.
  • Old school insurance executives at AIG failed to grasp the extent of their exposure to mortgage failures.
  • The complex nature of these financial products contributed to widespread confusion and ultimately led to AIG's financial crisis.