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Corporate Criminals, Political Corruption, and the Hijacking of America
Crown Business
June 2012
On Sale: May 22, 2012
384 pages
ISBN: 030795255X
EAN: 9780307952554
Kindle: B005DXOQMC
Hardcover / e-Book
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Non-Fiction
Charles H. Ferguson, who electrified the world with his
Oscar-winning documentary Inside Job, now
explains how a predator elite took over the country, step by
step, and he exposes the networks of academic, financial,
and political influence, in all recent
administrations, that prepared the predators’ path to conquest. Over the last several decades, the United States has
undergone one of the most radical social and economic
transformations in its history.
Finance has become America’s dominant industry, while
manufacturing, even for high technology industries, has
nearly disappeared.
The financial sector has become
increasingly criminalized, with the widespread fraud that
caused the housing bubble going completely
unpunished.
Federal tax collections as a share of GDP
are at their lowest level in sixty years, with the wealthy
and highly profitable corporations enjoying the greatest tax
reductions.
Most shockingly, the United States, so long the beacon of
opportunity for the ambitious poor, has become one of the
world’s most unequal and unfair societies.
If
you’re smart and a hard worker, but your parents aren’t
rich, you’re now better off being born in Munich, Germany or
in Singapore than in Cleveland, Ohio or New York.
This
radical shift did not happen by accident. Ferguson shows how, since the Reagan administration in the
1980s, both major political parties have become captives of
the moneyed elite. It was the Clinton administration
that dismantled the regulatory controls that protected the
average citizen from avaricious financiers. It was the
Bush team that destroyed the federal revenue base with its
grotesquely skewed tax cuts for the rich. And it is the
Obama White House that has allowed financial criminals to
continue to operate unchecked, even after supposed “reforms”
installed after the collapse of 2008.
Predator Nation reveals how once-revered
figures like Alan Greenspan and Larry Summers became mere
courtiers to the elite. Based on many newly released
court filings, it details the extent of the crimes—there is
no other word—committed in the frenzied chase for wealth
that caused the financial crisis. And, finally, it
lays out a plan of action for how we might take back our
country and the American dream.
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