Overview

In this eye-opening investigation, Robert Scheer exposes the hidden story behind the 2008 Wall Street crash and the subsequent global recession. Rather than examining the high-flying boardrooms of Wall Street, Scheer returns to Washington, D.C.—a veritable crime scene where decades of deregulation dismantled a robust New Deal-era regulatory system.

Synopsis

Scheer argues that the roots of the financial disaster can be traced back to the free-market propaganda of the Reagan years and the bipartisan deregulation of the banking industry under Bill Clinton. He labels this period the "Clinton Bubble," during which influential figures like Robert Rubin, Alan Greenspan, and Lawrence Summers allowed Wall Street to write legislation that eroded decades of effective financial regulation. Supported by whistleblower testimony from figures like Brooksley Born, this book provides an unsparing look at how political and corporate interests colluded to enrich themselves at the expense of Main Street.

Key Themes

• Political Collusion: The intersection of Wall Street and Washington, where deregulation set the stage for financial excess.
• The Clinton Bubble: An in-depth look at the era when bipartisan deregulation inflated a massive real estate bubble.
• Financial Crime and Consequence: How the erosion of regulatory safeguards led to one of the most devastating financial crises in history.
• Whistleblower Revelations: Insights from key figures like Brooksley Born who exposed the inner workings of the deregulated financial system.

Book Details

ISBN-13: 9781568584348
ISBN-10: 1568584342

Conclusion

The Great American Stickup is both a brilliant exposé of the financial crimes that reshaped America and a cautionary tale about the dangers of unchecked deregulation. Robert Scheer's incisive narrative challenges the mainstream media's boosterish coverage of Wall Street and calls for a reexamination of the forces that continue to influence our economic and political systems.

Dive into this provocative account and gain a deeper understanding of the true cost of financial excess and political collusion in modern America.