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The Inside Story of Obama's Promise, Wall Street's Power, and the Struggle to Control Our Economic Future
Chelsea Green Publishing
March 2010
On Sale: March 5, 2010
332 pages
ISBN: 1603582703
EAN: 9781603582704
Hardcover
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Non-Fiction Political
When Barack Obama took office in January 2009, he had an
unprecedented chance to do what no other recent president
could: seize the nation's financial reins from the corporate
elite and return them to the American people. Progressives
everywhere held out hope that their new leader would take
advantage of the economic crisis he stepped into and enact
bold policies that would evoke real financial
reforms-putting Main Street in front of Wall Street, at
last. But that, writes Robert Kuttner, is not the way
things turned out. Instead, America's best chance for
radical financial reform turned into Wall Street's greatest
victory. Obama filled his administration with allies of
financial elites who were more interested in business as
usual than in transformative change. As a consequence, Main
Street remained mired in deep recession. Instead of being
the instrument of economic renewal, Obama became the target
of economic frustration. In this hard-hitting,
incisive account, Kuttner shares his unique, insider view of
how the Obama administration not only missed its moment to
turn our economy around-but deepened Wall Street's risky
grip on America's future. Carefully constructing a one-year
history of the problem, the players, and the outcome,
Kuttner gives readers an unparalleled account of the
president's first year. More importantly, though,
Kuttner shows how we could-with swift, decisive action-still
enact real reforms. This is a book not to be missed by
anyone who wants to understand exactly how Wall Street won,
and how Main Street can still fight back.
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