Exceptionally interesting take on the historical economic development of the US and some of the key players that led the world on the track to the global financial crisis. A must read for anyone interested in how money can corrupt and how ideology can ruin the world economy.
..."the nation's co-opting by the 1% - and they are still getting away with it" pretty much wraps it up.
And unfortunately, not just in Ameriica, but indeed is a GLOBAL problem in dire need of a global fix!!!
A great read (and yes, Jimmy Carter started the ball rolling down hill with deregulation of the aviation and trucking industries, and overturned the anti-usury federal regulations for the banksters)! [Not covered in this book but of interest to those socioeconomic readers, the very last action President Roosevelt initiated (FDR Administration: 1933-1945) before his death while president, was the DOJ's lawsuit against the 17 bankers of Wall Street, alleging their concentrated ownership of America's corporations, a criminal conspiracy dating back to 1914; "US Government v. Morgan et al."]
You must read this book!!! It is a screed about the "age of greed," which stretches from around 1970 to the current day, and "the triumph of finance and the decline of America" (the subtitle). The book’s first half is essentially a history of the historical and political context from the 1950s to the 1980s, culminating in the rise of Reagan and the conversion of Americans' sense of a common national enterprise to an ethos of "I've got mine, Jack." The second half describes the rise of the financiers and the perversion of the American economy as the development of ever more sophisticated and arcane investment instruments (and LBOS and takeovers and mergers) fed financiers’ and corporatists’ insatiable greed for pure, personal profit, hang the common good or investments that might have been really productive for national progress (e.g., in manufacturing, infrastructure, education, medical research, whatever). Madrick is an excellent writer (though a bit of copy editing might have been warranted), so even when he's talking about some of the finer points of finance one can get the general drift. The book is disturbing and troubling, yes, but it confirmed what has been clear for a long time about the nation’s cooption by the 1 percent . . . and clearly, "they" are still getting away with it.
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