After months of various drafts and political infighting, Congress finally passed, and President Obama signed into law, a bill that was supposedly the biggest financial reform bill in decades. The big question is, do the supporters of this bill really believe it will change Wall Street? Or do they simply hope it'll be enough to placate us so the status quo can be validated? Nomi Prins assumes the latter, because they can't be that naive. In It Takes a Pillage, former Wall Street insider turned muckraking journalist Nomi Prins explains how we are building a new bubble with more leverage, bigger bonuses, rampant speculation and fraud, amid extended unemployment and personal financial decline. The cowering of Washington bureaucrats in the face of the power and influence exerted by the Big Banks threatens the economic well-being of us all. The scariest part is that, for all the trillions that have been spent or remain committed to the bloated stalwarts of Wall Street, our economic system is still in disarray. Average Americans continue to struggle while the banks are once again rolling in outsized profits and obscene bonuses. It Takes a Pillage is packed with the information you need to understand the financial crisis and what has followed, and to gain deeper insight into how to fight for real change.
About the Author
NOMI PRINS is a former managing director at Goldman Sachs, now a senior fellow at Demos, who writes on corruption in Washington and on Wall Street for Fortune, Mother Jones, AlterNet, the New York Times, the Daily Beast, and other publications. She is a frequent guest on national radio and television, including NPR, The NewsHour, and various CNBC, CNN, and Fox TV programs. Her previous books are Black Tuesday, Other People's Money and Jacked. Visit her Web site at www.nomiprins.com