The folks at John Wiley & Sons, Inc. just sent me a release announcing plans to publish the book "Bailout Nation: How Easy Money Corrupted Wall Street and Shook the World Economy," by asset manager, economics blogger and media commentator, Barry Ritholtz.
The book’s scheduled publication date is May 11, 2009.
The release said, “Bailout Nation is a revealing narrative about the politicians, financial leaders and institutions, and the regulators responsible for the financial crisis of 2008-09. The book shows how ideology has been turned on its head and how the U.S. has abandoned its capitalistic roots and morphed into a Bailout Nation.”
Ritholtz’s – a frequent guest and commentator on CNBC will examine a “gallery of perpetrators and enablers includes Alan Greenspan, former Senator Phil Gramm, Presidents Bush and Clinton, Treasury Secretaries Hank Paulson, Robert Rubin and Larry Summers, the biggest Wall Street firms, the ratings agencies, and Washington regulators.”
The author says that “together these individuals and institutions created a system that allowed banks and financial institutions to operate with little or no effective oversight, reaping the rewards of their success and insuring their failures would be underwritten by taxpayers.”
Barry Ritholtz writes the popular economic blogs, The Big Picture and is CEO and Director of Equity Research at Fusion IQ, an online quantitative research firm.
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