Age of Greed: The Triumph of Finance and the Decline of America, 1970 to the Present by Jeff MadrickA vividly told history of how greed bred America’s economic ills over the last forty years, and of the men most responsible for them.
As Jeff Madrick makes clear in a narrative at once sweeping, fast-paced, and incisive, 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 have argued that self-interest guides society more effectively than community concerns. These stewards of American capitalism have insisted on the central and essential place of accumulated wealth through the booms, busts, and recessions of the last half century, giving rise to our current woes.
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 the actions of Sandy Weill, who constructed the largest financial institution in the world, which would have gone bankrupt in 2008 without a federal bailout of $45 billion. Significant figures including Ivan Boesky, Michael Milken, Jack Welch, and Ronald Reagan play key roles as well.
Intense economic inequity and instability is the story of our age, and Jeff Madrick tells it with style, clarity, and an unerring command of his subject.
Movie Clip I Assault On Wall Street I Ending Scene
Assault On Wall Street
Bailout- The Age of Greed (2013) Official Trailer HD
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In the midst of the financial crisis of — , a portfolio-manager instructs his employees to neglect the best-interest of clients in order to increase company profits. Rosie is in the process of recovering from a near-fatal brain tumor. Their health insurance has reached its limit, and Jim finds that he is unable to afford her treatment. He decides to cash in the pension he earned from serving in the military, but learns that much of it is lost as a result of bad investments on the part of his financial adviser. Jim frequently lunches with a colleague in the armored car business, and two NYPD friends. However, the attorney he hired claims that he is unable to do anything and the assistant district attorney is unwilling to meet with him. Jim becomes frustrated at the loss of his money and his inability to pay for his wife's treatment and their mortgage.