A former Wall Street manager turned muckraking journalist gets inside how the banks looted the Treasury, stole the bailout, and continued with business as usual We all watched as packs of former Big Financiers commandeered posts in Washington and lavished trillions in bailouts to "save" big Wall Street firms that used that money for anything and ...Read MoreA former Wall Street manager turned muckraking journalist gets inside how the banks looted the Treasury, stole the bailout, and continued with business as usual We all watched as packs of former Big Financiers commandeered posts in Washington and lavished trillions in bailouts to "save" big Wall Street firms that used that money for anything and everything except to fill in Main Street's potholes. We all watched as Wall Street heavyweights fought tooth and nail to declaw financial reform and won. Former Wall Streeter Nomi Prins has been watching, too, and she is not going to let them get away with it. More than just an angry populist, commentator stuck on the sidelines, Prins understand Big Finance and big money and big schemes-and in this book she exposes the fundamental follies of our economic system and the schemes of the bigwigs who have no intention of letting it change.Remarkably combines detail, clarity, and narrative momentum, revealing all the ways in banks gamed the system to get the most money with the least oversight.Exposes the power-bankers who bagged more than $5 billion in compensation before and after their companies grabbed more than a trillion dollars in federal bailout subsidies-and how the government's indignation at this didn't lead to change.Shows how the most egregious pillagers work at the Fed and Treasury department, detailing how Hank Paulson, Ben Bernanke, and Tim Geithner siphoned off $10.7 trillion from the public's future for Big Finance's present, all the while telling us it was for our own good.Slams a financial system that will not change, if our government doesn't force it to change, no matter what happens in the so-called free market and why the 'sweeping' financial reform bill passed after Wall Street reconsolidated its power, is anything but sweeping or reformative.Written by a former managing director at Goldman Sachs, now a senior fellow at Demos, who writes regularly on corruption in Washington and Wall Street for news outlets ranging from "Fortune" to "Mother Jones." If you're still enraged and frustrated with how the bank bailout went bust for the American people, or how Wall Street continues to operate as if the rest of the world doesn't matter, or how the banks are once again rolling in outsized profits and obscene bonuses while average Americans continue to struggle through a bleak landscape of foreclosures and job loss, "It Takes a Pillage" gives voice to your outrage, and provides a deeper insight into what we really have to be angry about and how we can fight for some real change.Read Less
Fair. Some wear to dust jacket. Library copy with standard marks and labels. Water damage has caused notable wrinkling and staining to interior. Staining, chipping, and discoloration on page edges. Binding strong and text clear, suitable as a reading copy. All proceeds from purchases from BooksKC go to benefit the Rehabilitation Institute of Kansas City, a nonprofit organization which provides job services, training, and employment to individuals with disabilities.
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Good. : Connecting readers with great books since 1972. Used books may not include companion materials, some shelf wear, may contain highlighting/notes, and may not include cd-rom or access codes. Customer service is our top priority!
Another good book that focuses on the Great Recession of 2008 and where the favored few reaped staggering rewards while most of middle America suffered while bailing out the few who should have failed but became richer.
Feb 25, 2010
An exceptional Best Buy, Must Read
Nomi Prins was a supervising director at Bear Sterns, then a managing director at Goldman Sachs, until she found she could no longer drink the Koolaid, and began to write. As an insider, she is able to provide insights into the dynamics and personalities of the movers in the fraternity of financial joyriders who managed to take the world to the brink of the abyss by laying tiers of "securitizations" on top of tiers of "securitizations", then panicking the U.S. Congress into paying $700 billion allegedly to bail them out, and persuading their pals in the FED, FDIC and Treasury Department to throw in about $13 trillion more. She lists details and includes abundant sourcing references. Very little of this money was used to stimulate the national economy, but it did provide world record profits for a couple of banks that rewarded their brilliant executives with billions of dollars in bonues for this historic coup or heist literally of trillions!!
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