Bought and Paid For: The Hidden Relationship Between Wall Street and Washington
A top reporter exposes the deep ties between the Obama administration and the big banks that are bankrupting our country.
As the recession continues, President Obama has chastised the "fat cats" who feast off government bailout money while unemployment remains high and smaller businesses struggle.
But according to Gasparino, Obama is faking his outrage, and his calls for new policies to rein in banks that are "too big to fail" are just pabulum. In reality, Obama has climbed into bed with Wall Street CEOs, giving them what they want so they will support his liberal, big- government agenda. As a result, the big banks responsible for the credit crisis get rescued, while small businesses and ordinary Americans get crushed by higher taxes and irresponsible spending.
Gasparino draws on interviews with dozens of key CEOs and political players to trace the roots of Wall Street's twisted love affair with one of the most liberal presidents in American history. He shows how, for decades, big banks and big business have colluded with big government, thereby laying the groundwork for today's shady dealings, and how the same bankers Obama now publically reprimands have supported him-not because he promises change, but because he promises business.
Written in Gasparino's characteristic smart yet no-nonsense style, this book is both an exposť and a wake-up call to all Americans to strike back against the people and policies who are ruining our country.
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LibraryThing ReviewUser Review - carrstone1 - www.librarything.com
Sometimes you meet someone new and things just click, his or her basic humanity appeals to you and you know you could be the closest of buddies. None of the characters you meet in this expose will ... Read full review
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agenda American author’s interviews bailed bailout money Bank of America bankers Barack Obama Bear Stearns began big banks big firms Big Government bill Bob Rubin bonus bonuses borrowing campaign cash Cayne chairman Citigroup clients Congress debt Democrats despite earned economy election Federal Reserve financial collapse financial crisis financial reform financial system firm’s Freddie friends Gallogly Geithner Glass-Steagall Goldman Sachs government’s Hank Paulson hedge fund interest rates investment banks investors Jamie Dimon John Mack JPMorgan Chase Larry Fink Lloyd Blankfein loans massive McCain Merrill Lynch Morgan Stanley mortgage bonds nation’s nearly Nides Obama administration Orange County Pandit percent policies political president’s profits Rahm Emanuel Republican risk taking Sandy Weill senator senior ShoreBank small businesses Spector subprime taxes taxpayer toxic trading Treasury secretary unemployment Volcker rule Wall Street executives Wall Street firms Wall Street Journal Warren Spector Washington White House York