Fear and Loathing

Matt Taibbi’s article about Goldman Sachs is a refreshing return to form for Rolling Stone, the magazine that was once home to Hunter S. Thompson. Gonzo journalism, a term coined by Thompson when he worked for Rolling Stone, is a journalistic form that puts a cantankerous writer and his sainted opinions right at the center of the story. If you ask me, the way we talk about the financial crisis could benefit from this kind of humanizing touch. Taibbi is pissed off. Aren’t you?

Since the article came out, Taibbi has spent much of his time defending himself. He’s been called sloppy (Business Insider), dumb (Megan McCardle), and intemperate (Felix Salmon to be fair, Salmon likes the article).

His critics are at a disadvantage – Taibbi is cooler than they are and he writes better. Megan McCardle takes an unfortunate stab at sounding hep and titles her article “Matt Taibbi Gets His Sarah Palin On.“ The Business Insider is shocked to find it isn’t reading the Economist: “The story is really not meant,” they sniff, “for an audience interested in a discussion of financial markets, as evidenced by his rhetorical style.” I laugh every time I read that.