Book picks similar to
War at the Wall Street Journal: Inside the Struggle to Control an American Business Empire by Sarah Ellison
business
media
non-fiction
nonfiction
The Jihad Next Door: The Lackawanna Six and Rough Justice in an Age of Terror
Dina Temple-Raston - 2007
The author evaluates the casualties of the war on terror in this story of pre-emptive imprisonment for an act of terrorism never committed, of a terrorist cell that may not even have been a cell.
Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street
Neil Barofsky - 2010
In behind-the-scenes detail, he shows the extreme degree to which government officials bent over backward to serve the interests of Wall Street firms at the expense of the public—& at the expense of effective financial reform. During the height of the financial crisis in 2008, Barofsky gave up his job as a prosecutor in the US Attorney’s Office in NYC, where he'd convicted drug kingpins, Wall Street executives & mortgage fraud perpetrators, to become the special inspector general in charge of oversight of bailout money spending. From the first his efforts to protect against fraud & to hold big banks accountable for how they spent taxpayer money were met with outright hostility from Treasury officials in charge of the bailouts.Barofsky discloses how, in serving banking interests, Treasury Secretary Timothy Geithner & his team worked with Wall Street executives to design programs to would funnel vast amounts of taxpayer money to their firms & would have allowed them to game the markets & make huge profits with almost no risk or accountability, while repeatedly fighting efforts to put the necessary fraud protections in place. His investigations also uncovered abject mismanagement of the bailout of insurance giant AIG & Geithner’s decision to allow the payment of millions of dollars in bonuses & that the Obama administration’s TARP Czar lobbied for the executives to retain their high pay.Providing details about how, meanwhile, the interests of homeowners & the broader public were betrayed, Barofsky recounts how Geithner & his team steadfastly failed to fix glaring flaws in the Obama administration’s homeowner relief program pointed out by bailout watchdogs, rejecting anti-fraud measures, which unleashed a wave of abuses by mortgage providers against homeowners, even causing some who wouldn't have lost their homes otherwise to go into foreclosure. Ultimately only a small fraction ($1.4 billion when he stepped down) of the $50 billion allocated to help homeowners was spent, while the funds expended to prop up the financial system totaled $4.7 trillion. As he raised the alarm about the bailout failures, he met with obstruction. He recounts in blow-by-blow detail how an increasingly aggressive war was waged against his efforts, with even the White House launching a broadside against him. Bailout is a riveting account of his plunge into the political meat grinder of Washington, as well as a vital revelation of just how captured by Wall Street the political system is & why the too-big-to-fail banks have only become bigger & more dangerous in the wake of the crisis.
Don't Fall for It: A Short History of Financial Scams
Ben Carlson - 2020
Enron was forced to declare bankruptcy after allegations of massive accounting fraud, wiping out $78 billion in stock market value. Bernie Madoff, the largest individual fraudster in history, built a $65 billion Ponzi scheme that ultimately resulted in his being sentenced to 150 years in prison. People from all walks of life have been scammed out of their money: French and British nobility looking to get rich quickly, farmers looking for a miracle cure for their health ailments, several professional athletes, and some of Hollywood's biggest stars. No one is immune from getting deceived when money is involved. Don't Fall For It is a fascinating look into some of the biggest financial frauds and scams ever.This compelling book explores specific instances of financial fraud as well as some of the most successful charlatans and hucksters of all-time. Sharing lessons that apply to business, money management, and investing, author Ben Carlson answers questions such as: Why do even the most intelligent among us get taken advantage of in financial scams? What make fraudsters successful? Why is it often harder to stay rich than to get rich? Each chapter in examines different frauds, perpetrators, or victims of scams. These real-life stories include anecdotes about how these frauds were carried out and discussions of what can be learned from these events. This engaging book:Explores the business and financial lessons drawn from some of history's biggest frauds Describes the conditions under which fraud tends to work best Explains how people can avoid being scammed out of their money Suggests practical steps to reduce financial fraud in the future Don't Fall For It: A Short History of Financial Scams is filled with engrossing real-life stories and valuable insights, written for finance professionals, investors, and general interest readers alike.
Vietnam Diary
Richard Tregaskis - 1963
For the next four months he spent his life on the frontline, witnessing and recording what the American men were doing, saying and thinking in the fight against the communist forces of Northern Vietnam. Tregaskis exposes the confusion of the conflict as he climbs on board Marine and Army helicopters and goes on missions to search out their deadly foes that seem to disappear into the jungle as soon as they are seen. Vietnam Diary is a remarkable book that takes the reader to the heart of what it was like to be fighting in this vicious war. Through the course of the book Tregaskis develops deep friendships with many of the troops who begin to open up to him and explain their experiences that they have been through since the beginning of the war. “He discusses in typical Tregaskis style his observations and experiences during the time he spent with the Marine and Army helicopter units, the Special Forces, the MAAG personnel, and the Junk fleet.” R. C. Rosacker, Lieutenant Colonel, U. S. Marine Corps, Naval War College Review Tregaskis won the George Polk Award for first-person reporting under hazardous conditions shortly after publishing Vietname Diary. This book is essential reading for anyone interested in the Vietnam War as well as the lives of the soldiers who fought within it. Richard Tregaskis was an American journalist and author who served as a war correspondent during World War Two, the Korean War, and the Vietnam War. He was no stranger to danger as he frequently put himself in the firing line to report and during the Second World War while in Italy a shell fragment pierced his helmet and his skull and nearly killed him. His book Vietnam Diary was first published in 1963 and he passed away in Hawaii in 1973.
All the Rave: The Rise and Fall of Shawn Fanning's Napster
Joseph Menn - 2003
"All the Rave" is a riveting account of genius and egos, visionary leaps and disastrous business decisions.
Winners Take All: The Elite Charade of Changing the World
Anand Giridharadas - 2018
We see how they rebrand themselves as saviors of the poor; how they lavishly reward "thought leaders" who redefine "change" in winner-friendly ways; and how they constantly seek to do more good, but never less harm. We hear the limousine confessions of a celebrated foundation boss; witness an American president hem and haw about his plutocratic benefactors; and attend a cruise-ship conference where entrepreneurs celebrate their own self-interested magnanimity.Giridharadas asks hard questions: Why, for example, should our gravest problems be solved by the unelected upper crust instead of the public institutions it erodes by lobbying and dodging taxes? He also points toward an answer: Rather than rely on scraps from the winners, we must take on the grueling democratic work of building more robust, egalitarian institutions and truly changing the world. A call to action for elites and everyday citizens alike.
Twilight of the Elites: America After Meritocracy
Christopher L. Hayes - 2012
In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters.How did we get here? With Twilight of the Elites, Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it.Mixing deft political analysis, timely social commentary, and deep historical understanding, Twilight of the Elites describes how the society we have come to inhabit – utterly forgiving at the top and relentlessly punitive at the bottom – produces leaders who are out of touch with the people they have been trusted to govern. Hayes argues that the public's failure to trust the federal government, corporate America, and the media has led to a crisis of authority that threatens to engulf not just our politics but our day-to-day lives.Upending well-worn ideological and partisan categories, Hayes entirely reorients our perspective on our times. Twilight of the Elites is the defining work of social criticism for the post-bailout age.
The Daily Show (The Audiobook): An Oral History as Told by Jon Stewart, the Correspondents, Staff and Guests
Chris Smith - 2016
For almost seventeen years, The Daily Show with Jon Stewart brilliantly redefined the borders between television comedy, political satire, and opinionated news coverage. It launched the careers of some of today's most significant comedians, highlighted the hypocrisies of the powerful, and garnered 23 Emmys. Now the show's behind-the-scenes gags, controversies, and camaraderie will be chronicled by the players themselves, from legendary host Jon Stewart to the star cast members and writers-including Samantha Bee, Stephen Colbert, John Oliver, Steve Carell, Lewis Black, Jessica Williams, John Hodgman, and Larry Wilmore-plus some of The Daily Show's most prominent guests and adversaries: John and Cindy McCain, Glenn Beck, Tucker Carlson, and many more.This oral history takes the reader behind the curtain for all the show's highlights, from its origins as Comedy Central's underdog late-night program hosted by Craig Kilborn to Jon Stewart's long reign to Trevor Noah's succession, rising from a scrappy jester in the 24-hour political news cycle to become part of the beating heart of politics-a trusted source for not only comedy but also commentary, with a reputation for calling bullshit and an ability to effect real change in the world. Through years of incisive election coverage, Jon Stewart's emotional monologue in the wake of 9/11, his infamous confrontation on Crossfire, passionate debates with President Obama and Hillary Clinton, feuds with Bill O'Reilly and Fox, the Indecisions, Mess O'Potamia, and provocative takes on Wall Street and racism, The Daily Show has been a cultural touchstone. Now, for the first time, the people behind the show's seminal moments come together to share their memories of the last-minute rewrites, improvisations, pranks, romances, blow-ups, and moments of Zen both on and off the set of one of America's most groundbreaking shows.
Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations
Thomas L. Friedman - 2016
Friedman shows that we have entered an age of dizzying acceleration--and explains how to live in it. Due to an exponential increase in computing power, climbers atop Mount Everest enjoy excellent cell-phone service and self-driving cars are taking to the roads. A parallel explosion of economic interdependency has created new riches as well as spiraling debt burdens. Meanwhile, Mother Nature is also seeing dramatic changes as carbon levels rise and species go extinct, with compounding results.How do these changes interact, and how can we cope with them? To get a better purchase on the present, Friedman returns to his Minnesota childhood and sketches a world where politics worked and joining the middle class was an achievable goal. Today, by contrast, it is easier than ever to be a maker (try 3-D printing) or a breaker (the Islamic State excels at using Twitter), but harder than ever to be a leader or merely "average." Friedman concludes that nations and individuals must learn to be fast (innovative and quick to adapt), fair (prepared to help the casualties of change), and slow (adept at shutting out the noise and accessing their deepest values). With vision, authority, and wit, Thank You for Being Late establishes a blueprint for how to think about our times.
Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is Breaking America
Matt Taibbi - 2010
The stunning rise, fall, and rescue of Wall Street in the bubble-and-bailout era was the coming-out party for the network of looters who sit at the nexus of American political and economic power. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power for a generation, transferring wealth upward through increasingly complex financial mechanisms and political maneuvers. The crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life.Rolling Stone’s Matt Taibbi here unravels the whole fiendish story, digging beyond the headlines to get into the deeper roots and wider implications of the rise of the grifters. He traces the movement’s origins to the cult of Ayn Rand and her most influential—and possibly weirdest—acolyte, Alan Greenspan, and offers fresh reporting on the backroom deals that decided the winners and losers in the government bailouts. He uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world, and he shows how finance dominates politics, from the story of investment bankers auctioning off America’s infrastructure to an inside account of the high-stakes battle for health-care reform—a battle the true reformers lost. Finally, he tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity.” Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing, and scathingly funny account yet written of the ongoing political and financial crisis in America. This is essential reading for anyone who wants to understand the labyrinthine inner workings of politics and finance in this country, and the profound consequences for us all.
Lights Out: Pride, Delusion, and the Fall of General Electric
Thomas Gryta - 2020
For generations, it was job security, a solidly safe investment, and an elite business education for top managers.GE electrified America, powering everything from lightbulbs to turbines, and became fully integrated into the American societal mindset as few companies ever had. And after two decades of leadership under legendary CEO Jack Welch, GE entered the twenty-first century as America’s most valuable corporation. Yet, fewer than two decades later, the GE of old was gone.Lights Out examines how Welch’s handpicked successor, Jeff Immelt, tried to fix flaws in Welch’s profit machine, while stumbling headlong into mistakes of his own. In the end, GE’s traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company’s decline on both a personal and organizational scale. Lights Out details how one of America’s all-time great companies has been reduced to a cautionary tale for our times.
Trump Revealed: An American Journey of Ambition, Ego, Money, and Power
Michael Kranish - 2016
Trump? Despite decades of scrutiny, many aspects of his life are not well known. To discover Trump in full, The Washington Post assembled a team of award-winning reporters and researchers to delve into every aspect of Trump’s improbable life, from his privileged upbringing in Queens to his astonishing 2016 rise to seize the Republican candidacy for president. Coauthored by Washington Post investigative political reporter Michael Kranish and senior editor Marc Fisher, this comprehensive book documents Trump’s fascinating family roots, his aggressive efforts to make a name for himself in New York social circles, and his penchant for big bets—on real estate, branded businesses, and, ultimately, on himself.The authors, seasoned journalists who interviewed Trump for this book, scrutinize everything from his youthful alliance with the power broker Roy Cohn to his alleged dealings with organized crime and his controversial projects in New York City, Atlantic City, Florida, Scotland, and Azerbaijan. The authors examine Trump’s wealth, the evolution of his political beliefs, and his peculiar identity as a billionaire businessman, celebrity, global brand, television star, and now candidate for the most powerful office in the world. Few individuals have ever roamed so widely through such diverse realms as real estate, sports, entertainment, and national politics. How has Trump’s life informed his bold statements on the economy, immigration, race, global trade, terrorism, and women?Drawn from in-depth reporting by The Washington Post, Trump Revealed is essential reading as the 2016 American presidential election looms.
Janesville: An American Story
Amy Goldstein - 2017
Most observers record the immediate shock of vanished jobs, but few stay around long enough to notice what happens next, when a community with a can-do spirit tries to pick itself up.Pulitzer Prize winner Amy Goldstein has spent years immersed in Janesville, Wisconsin where the nation’s oldest operating General Motors plant shut down in the midst of the Great Recession, two days before Christmas of 2008. Now, with intelligence, sympathy, and insight into what connects and divides people in an era of economic upheaval, she makes one of America’s biggest political issues human. Her reporting takes the reader deep into the lives of autoworkers, educators, bankers, politicians, and job re-trainers to show why it’s so hard in the twenty-first century to recreate a healthy, prosperous working class. For this is not just a Janesville story or a Midwestern story. It’s an American story.
Factory Man: How One Furniture Maker Battled Offshoring, Stayed Local - and Helped Save an American Town
Beth Macy - 2014
The Bassett Furniture Company was once the world's biggest wood furniture manufacturer. Run by the same powerful Virginia family for generations, it was also the center of life in Bassett, Virginia. But beginning in the 1980s, the first waves of Asian competition hit, and ultimately Bassett was forced to send its production overseas. One man fought back: John Bassett III, a shrewd and determined third-generation factory man, now chairman of Vaughan-Bassett Furniture Co, which employs more than 700 Virginians and has sales of more than $90 million. In Factory Man, Beth Macy brings to life Bassett's deeply personal furniture and family story, along with a host of characters from an industry that was as cutthroat as it was colorful. As she shows how he uses legal maneuvers, factory efficiencies, and sheer grit and cunning to save hundreds of jobs, she also reveals the truth about modern industry in America.
How Music Got Free: The End of an Industry, the Turn of the Century, and the Patient Zero of Piracy
Stephen Richard Witt - 2015
It’s about the greatest pirate in history, the most powerful executive in the music business, a revolutionary invention and an illegal website four times the size of the iTunes Music Store. Journalist Stephen Witt traces the secret history of digital music piracy, from the German audio engineers who invented the mp3, to a North Carolina compact-disc manufacturing plant where factory worker Dell Glover leaked nearly two thousand albums over the course of a decade, to the high-rises of midtown Manhattan where music executive Doug Morris cornered the global market on rap, and, finally, into the darkest recesses of the Internet.Through these interwoven narratives, Witt has written a thrilling book that depicts the moment in history when ordinary life became forever entwined with the world online — when, suddenly, all the music ever recorded was available for free. In the page-turning tradition of writers like Michael Lewis and Lawrence Wright, Witt’s deeply-reported first book introduces the unforgettable characters—inventors, executives, factory workers, and smugglers—who revolutionized an entire artform, and reveals for the first time the secret underworld of media pirates that transformed our digital lives.An irresistible never-before-told story of greed, cunning, genius, and deceit, How Music Got Free isn’t just a story of the music industry—it’s a must-read history of the Internet itself.