Why every president from Reagan through Obama has put Wall
Street before Main Street
Over the last few decades,
Washington’s firmly held belief that if you make investors
happy, a booming economy will follow has caused an economic
crisis in Asia, hardship in Latin America, and now a severe
recession in America and Europe. How did the best and
brightest of our time allow this to happen? Why have these
disasters done nothing to change the free-market mantra of
the Washington faithful? The answer has nothing to do with
lobbyists and everything to do with ideology. In Capital
Offense, veteran Newsweek reporter Michael Hirsh
gives us a colorful narrative history of the era he calls
the Age of Capital, telling the story through the eyes of
its key players, from Ronald Reagan and Milton Friedman
through Larry Summers and Timothy Geithner. • Based on
the solid research and skilled reporting of Newsweek
Senior Editor Michael Hirsh • Takes you inside
high-level, closed-door conversations of top White House
advisers and administration officials such as Alan
Greenspan, Robert Rubin, Paul O’Neill, and others •
Illuminates key figures and lively interpersonal clashes,
including the conflict between Larry Summers and Nobel
Prize-winning economist Joe Stiglitz • Offers crucial
insights on why President Obama took so long to work on the
economy—and why he may not be going far enough • Catalogs
the missteps of three decades of fiscal, regulatory, and
financial recklessness, including the dismantling of the
Glass-Steagall Act, the S&L debacle, Enron, and the
subprime mortgage meltdown As we struggle to emerge from the
financial crisis, one thing seems certain: Wall Street’s
continued dominance of the global economy. Propelled into
the lead by a generation of Washington policy-makers, Wall
Street will continue to stay ahead of them.
© 2003-2025 off-the-edge.net
all rights reserved Privacy Policy