Age of greed : the triumph of finance and the decline of America, 1970 to the present / Jeff Madrick.
- New York : Alfred A. Knopf, 2011.
xi, 464 p. : ill. ; 25 cm.
- Wealth -- Moral and ethical aspects.
Financial crises -- United States -- History.
United States -- Politics and government -- 20th century.
United States -- Politics and government -- 21st century.
- As Jeff Madrick makes clear, the single-minded pursuit of huge personal wealth has been on the rise in the United States since the 1970s, led by a few individuals who argue that self-interest guides society more effectively than community concerns. In telling the stories of these politicians, economists, and financiers who declared a moral battle for freedom but instead gave rise to an age of greed, Madrick traces the lineage of some of our nation's most pressing economic problems. He begins with Walter Wriston, head of what would become Citicorp, who led the battle against government regulation. He examines the ideas of economist Milton Friedman, who created the plan for an anti-Rooseveltian America; the politically expedient decisions of Richard Nixon that fueled inflation; the philosophy of Alan Greenspan, on whose libertarian ideology a house of cards was built on Wall Street; and Sandy Weill, who constructed the largest financial institution in the world, which would have gone bankrupt in 2008 without a federal bailout.--From publisher description.
Prologue Lewis Uhler believer
Walter Wriston regulatory revoltá
Milton Friedman proselytizer
Richard Nixon and Arthur Burns political expediencyá
Joe Flom the hostile takeover
Ivan Boesky wanting it all
Walter Wriston II bailing out citibank
Ronald Reagan the making of an ideology
Ted Turner, Sam Walton, and Steveáross size becomes strategy
Jimmy Carter and Charles Schultze capitulation
Howard Jarvis tapping the anger
Paul Volcker, Jimmy Carter and Ronald Reagan revolution completed
The new guard
Tom Peters and Jack Welch promises broken
Michael Milken "the magnificent"
Alan Greenspan ideologue
George Soros and John Meriwether fabulous wealth and controversial power
Sandy Weill king of the world
Sandy Weill, Jack Grubman, Frank Quattrone, and Ken Lay decade of deceit
Angelo Mozilo, the American tragedy
Jimmy Cayne, Richard Fuld, Stan O'Neal, Chuck Prince collapse.
- Includes bibliographical references and index.
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