How the actions of a few in Europe destroyed the prosperity of the many (and how it's happening again now in America).
After the fall of the Roman Empire, vicious barbaric tribes including the Hunds lead by Atilla, the Mongols, Charlemagne, and the Vikings invaded Europe, plundering property and destroying homes. But, they didn't just steal and destroy property in the villages; they also stole and destroyed any prosperity the villagers had previously enjoyed. What's worse is the barbarians of the Dark Ages did all of this not out of any deeply held religious or political belief, but rather for the oldest reason in the book: their own personal financial gain. Some things never change.
Barbarians of Wealth examines how the greedy, self-serving decisions of a select group of politicians and financial institutions negatively impacts the economy, and ultimately, destroys America's prosperity and the American way of life.
Compelling and engaging, the book:
Details how Goldman Sachs peddled mortgage backed securities up and down Wall Street while secretly betting against their demise.
Discusses how Sanford Weill, founder of Citigroup spent $100 million lobbying for the repeal of the Glass-Steagall Act that prevented the merger of commercial and investment banks and got his way.
Examines Christopher Dodd, head of the U.S. Senate Banking Committee, has enriched himself while driving down the prosperity of his constituents.
Offers up examples of other modern barbarians, including the Federal Reserve, Alan Greenspan, Hank Paulson, and Timothy Geithner.
Highlights greed driven tactics of Wall Street corporations including JP Morgan, Merrill Lynch, and Salomon Brothers.
Barbarians of Wealth is a timely must listen for hard-working Americans concerned with their prosperity, as well as for those fascinated with the inner workings of Washington and Wall Street.
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Antiquated rules of behavior pointed out; mocked
The discussion of the deep level of security that surrounded the creation of the Federal Reserve. Today -- nothing like that would be possible. This book does not cover the creation as "how demonically clever these men are" but more as if she was creating an introductory paragraph for a Fail blog.
There's a dismay and "grandpa's got gravy on his tie" embarrassment for the current people in power that comes across so well in her vocal delivery that might be missed in print.
"Fakers gotta fake". The comparison between people and institutions that actually moved society forward and people who scooped off the best bits for themselves could not be more stark.
The last sixth of the book contains some action plans, which are useful as far as they go, but the primary benefit of this book is the magician's reveal; once you know how the trick was done you won't ever be clapping and admiring the people who put themselves on stage ever again.