The news was crazy, incredible. The biggest merger ever, it was, according to the media, an "awesome megadeal" and "a fusion of guts and glory." It was "the deal of the century" and "a mega-marriage of earth and cyberspace." An Internet upstart, AOL was buying the world's most powerful media and entertainment company. "A company that isn't old enough to buy beer," marveled the Wall Street Journal, "has essentially swallowed an ancien régime media conglomerate that took most of a century to construct."Two years later, after the smoke had cleared, $200 billion of shareholder value had vanished into cyberspace. On the trail of possible fraud, the SEC and the Justice Department started investigating AOL Time Warner's accounting practices. Meanwhile, a civil war had broken out inside the company, complete with backstabbing and personal betrayals. Before long, almost every major player was out of the company, discredited, and humiliated. Jerry Levin, Time Warner's "resident genius," lost his job, lost his reputation, and, in the view of some people, simply "lost it." Steve Case, the visionary leader of AOL, was forced out of the company he had created. Gone too was the telegenic wonder-boy Bob Pittman, and his gang of fast-talking salesmen. As for Ted Turner, he resigned from his post as vice-chairman of AOL Time Warner in early 2003, bitter, wiser, and $8.5 billion poorer.Fools Rush In is the definitive account of one of the greatest fiascos in the history of corporate America. In a narrative fraught with drama, Nina Munk reveals the overweening ambition and moral posturing that brought down the Deal of the Century. With painstaking reporting and the remarkable eye for detail she's known for, Munk lays out, step by step, the anatomy of a debacle. Irreverent, witty, and iconoclastic, she sees through it all brilliantly."As in all great Greek tragedies, you knew the plot before it played out," one perceptive insider told Munk on the subject of the AOL Time Warner deal; "you knew who'd be sacrificed at the altar." Here's what we discover in Fools Rush In: In their single-minded quest for power, Steve Case and Jerry Levin were at each other's throats even before the deal was announced. Bob Pittman was regarded as a "windup CEO" by Case, and viewed as a hustler by just about everyone at Time Warner. Ted Turner underestimated Jerry Levin's ruthlessness badly. And Levin himself, convinced he was creating a great legacy comparable to that of Time Inc.'s founder, Henry Luce, refused to acknowledge the obvious: that, with a remarkable sense of timing, Steve Case had used grossly inflated Internet paper to buy Time Warner.

    For the Amendment gives to the Federal Government first claim upon the earnings of the individual, and so infringes his natural right to own what he produces.With its graduated-tax provision, the Income Tax Amendment is a replica of that clause in the Communist Manifesto which provides for the confiscation of all property through the use of just such a tax.Not only is the individual citizen's liberty partitioned by the Amendment, but the several states are deprived of their Constitutional sovereignty, and the central Federal Government is overstrengthened at their expense. This growth of centralized power is a development which generations of Americans fought stubbornly to prevent.And the Federal Government, by the very nature of government itself, increases its "needs" in accordance with its means of revenue. Reduce Federal income, argues Frank Chodorov, and Federal "needs" will automatically be reduced.The author takes a forthright stand as he defines the immoral nature of income taxation and the fallacy of using to "level off" society. And finally he outlines what can be done to repeal the Income Tax Amendment, bearing in mind the Federal Government's legitimate need for revenue.

    In The Death of Trotsky, Cecelia Holland brings this fated and fatal day to life, from its quotidian beginnings to its dramatic close. Between Trotsky’s waking and his final rest, she probes the outer-workings and inner thoughts of those who were with him till the end, illuminating a man who exited life as he lived it: defiantly. Cecelia Holland, author of more than 30 books and articles, lives in northern California with her family.Cover Design by Adil Dara.

    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.

    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.

    Lincoln became an instant martyr, immortalized as the "The Great Emancipator." After Lincoln's assassination, the commonest of men tried to fill the gigantic void. Andrew Johnson, a self-educated tailor from Tennessee, became the 17th President of the United States, and the first to enter office after the murder of his predecessor. Rising above an impoverished childhood, Johnson was truly a self-made man, learning a useful trade and developing his own successful business. At the same time, he rapidly ascended the poltical ladder--Alderman, Mayor, State Legislator, Congressman, Governor of Tennessee, United States Senator, Military Governor of Union-occupied Tennessee, Vice-President, and President of the United States. As the only lawmaker from the South to remain in Congress after the outbreak of the Civil War, Andrew Johnson was the ultimate "Loyalist." In recognition for his dedication to the Union, Johnson was nominated as Abraham Lincoln's running mate in the 1864 presidential election. Barely a month into his vice-presidency, Johnson was thrust on the center stage of America politics. After Lincoln was murdered, the tailor from Tennessee ascended into the unenviable position of succeeding a legend. Johnson's obstinancy and rigid interpretaion of the Constitution soon placed him at odds with the Republican congression leadership and the national press. The bitter chasm widened as the Johnson presidency lurched forward, and ultimately led to his being the first President in American history to be impeached by the House of Representatives. By a single vote, Johnson avoided conviction by the Senate, and forfeiture of of office. After narrowly surving this constitutional crisis, Johnson's historical legacy was irrevocably damaged, and his hopes for an elected term as President were dashed. Returning to Tennessee after his presidency, Johnson was determined to return to political office. In remarkable fashion, he was elected to the United States Senate, marking the first and only time that a former President has returned to serve in that legislative body. Ambitous, lacking humility, and largely humorless, Johnson was unable to tolerate criticism. He angrily attacked his foes, once likening himself to Christ on the Crucifix. His combative personality and intemperate remarks readily allowed his enemies to portray him as vindictive and unstable. "The Loyalist: The Life and Times of Andrew Johnson" is a concise biography of the 17th President of the United States, focusing upon the tumultuous years surrounding the American Civil War. Sustained by courage and ambition, Johnson was inevitably doomed by petulance, leading to a remarkable rise, dramatic fall, and partial vindication.

    Companies are shutting down and laying off workers, 401ks are melting away, and the government is spending $700 billion dollars to bail out banks and financial institutions -- and that's only the beginning. The financial services industry, and the many industries that depend on it -- from housing to cars -- is in intensive care. So what happened? How did we get to this point of financial disaster? Is the economy just a huge, Madoff-esque Ponzi scheme? It is a complicated and confusing story -- but Daniel Gross of Newsweek has a special gift for making complicated matters easy to understand and even entertaining. In Dumb Money, he offers a guide to the debacle and to what the future may hold. This is not so much a book about who did what, though that's part of the story. Rather, it pieces together the building blocks of the debt-fueled economy, and distills the theory and personalities behind our late, lamented easy money culture. Dumb Money is a book that finally lays it all out in an engaging way, and might just help people invest their money smartly until the gloom passes.

    The third edition, Obama’s Last Stand, follows the reelection campaign of President Barack Obama as it struggles to find the winning formula in a political landscape that has changed dramatically since his history-making victory in 2008. Though battered and bruised after nearly four years in office, Barack Obama remains the most competitive player on the field in American politics today. In Obama’s Last Stand, POLITICO White House correspondent Glenn Thrush chronicles the efforts of the president and his team to secure a second term in the face of a determined opposition, unfavorable economic headwinds, and a series of missteps by his own team. This is a revealing portrait of the president at the most precarious moment in his political life, with insights and anecdotes drawn straight from the notebook of one of the most perceptive reporters in America. The trash-talking schoolyard athlete in Obama is very much in evidence, especially when he speaks caustically about his Republican rivals, including the man he thinks is trying to steal his legacy, Mitt Romney. Yet apart from Romney and the uncertain economy, Obama’s greatest obstacle on the road to reelection may be Obama 2008. He and his team of talented advisers must try to reconcile their nostalgia for that once-in-a-lifetime campaign with the realities of an election fundamentally altered by the advent of super PACs and the evaporation of Obama’s superstar popularity. That challenge has led a campaign operation that once prided itself on flawless execution of strategy to commit several of the most dangerous unforced errors of Obama’s political career. Yet the game is far from over. If Obama is sometimes his own worst enemy, he also has the talent and drive to reclaim this race. Spurred on by the realistic prospect of losing, and growing ever more impatient with the foibles of his campaign staff, Obama the competitor is gearing up for the most critical fourth quarter of his career. This is the story of the last stand that will either cement his legacy forever—or consign him to a roster of once-promising one-term presidents.

    

    He wanted a dead Constitution, he joked, arguing it must be interpreted as the framers originally understood it.In The Living Constitution, leading constitutional scholar David Strauss forcefully argues against the claims of Scalia, Clarence Thomas, Robert Bork, and other originalists, explaining in clear, jargon-free English how the Constitution can sensibly evolve, without falling into the anything-goes flexibility caricatured by opponents. The living Constitution is not an out-of-touch liberal theory, Strauss further shows, but a mainstream tradition of American jurisprudence--a common-law approach to the Constitution, rooted in the written document but also based on precedent. Each generation has contributed precedents that guide and confine judicial rulings, yet allow us to meet the demands of today, not force us to follow the commands of the long-dead Founders. Strauss explores how judicial decisions adapted the Constitution's text (and contradicted original intent) to produce some of our most profound accomplishments: the end of racial segregation, the expansion of women's rights, and the freedom of speech. By contrast, originalism suffers from fatal flaws: the impossibility of truly divining original intent, the difficulty of adapting eighteenth-century understandings to the modern world, and the pointlessness of chaining ourselves to decisions made centuries ago.David Strauss is one of our leading authorities on Constitutional law--one with practical knowledge as well, having served as Assistant Solicitor General of the United States and argued eighteen cases before the United States Supreme Court. Now he offers a profound new understanding of how the Constitution can remain vital to life in the twenty-first century.

    The truth is: politics and innuendo clouded that story from the very beginning, with the result that few people really understand who The Duke and Duchess of Windsor were and what forces propelled them to their infamous fate. The Royal W.E. examines the individual and intertwined lives of Wallis and Edward – or “W.E.” as they referred to themselves – and provides readers with unique glimpses of the real people, as opposed to the sensationalized characters, that were The Duke and Duchess of Windsor. Through careful study of more than 75 years of rhetoric and scholarship, Victoria Martínez takes on the most controversial charges lodged against the couple (Was Wallis a hermaphrodite? Were the Duke and Duchess Nazi sympathizers?) with candor and evenhandedness. In analyzing the early lives of Wallis and the ex-king and their later relationships with other members of the Royal Family, her approach is to deal with all parties as human beings, whose true faults – though significant – were far less sinister than history has led us to believe. Ms. Martínez also addresses the ever-popular subject of the Duchess’s jewels, including new research on the famous 1946 Ednam Lodge jewel heist to dispel the long-held rumors that the Duke and Duchess committed jewel theft and insurance fraud. The subjects in this book are not always mainstream, well-known, or even consistent with “popular” opinion, and the objective is not to make anyone “like” the couple. Instead, readers will find refreshingly honest and accurate portrayals of W.E. that will help them understand the real people behind the myth and hype. “Prejudice and preconception are difficult things to set aside, particularly after so many years of negative stories and sordid rumor, but I think readers here will discover an alternative and convincing look at the Duke and Duchess of Windsor. I am sure they would approve and perhaps, just perhaps, the future may be a little bit kinder to Edward and Wallis because of the efforts of people like Ms. Martínez.” -Greg King, author of The Duchess of Windsor: The Uncommon Life of Wallis Simpson

     Separating fact from myth in today’s heated immigration debate, a member of the Wall Street Journal editorial board contends that foreign workers play a vital role in keeping America prosperous; that maintaining an open-border policy is consistent with free-market economic principals; and that the arguments put forward by opponents of immigration ultimately don’t hold up to scrutiny. In the course of his fourteen years at the Journal, Riley has covered immigration’s impact on our economy, our culture and our politics. He is an outspoken advocate of free and flexible labor markets, and in this timely book he argues that our open-immigration policy goes a long way toward explaining the difference between robust economic growth in the United States and stagnation in places like Europe. In lucid, jargon-free prose, Riley takes on the most common anti-immigrant complaints, including claims that today’s immigrants overpopulate the United States, steal jobs, depress wages, don’t assimilate, and pose an undue threat to homeland security. As the 2008 presidential election approaches with immigration reform on the front burner, Let Them In is essential reading for liberals and conservatives alike who want to bring an informed perspective to the discussion.

    He also dwells at length on the Pakistan movement, where the seeds of many current problems were sown the opportunistic use of religion being the most lethal of these. With data-driven precision, Devasher takes apart the flawed prescriptions and responses of successive governments, especially during military rule, to the many critical challenges the country has encountered over the years. These, as much as the particular trajectory of its creation and growth, he contends, have brought Pakistan to an abyss where it risks multi-organ failure unless things change dramatically in the near future.

    Thomas Piketty’s Capital in the Twenty-First Century makes a powerful case that wealth, and accumulated wealth, tends to stay where it lands: and with the passage of time, just gets bigger…and bigger.But how many of us who bought or borrowed the book–or even, perhaps, reviewed it–have read more than a fraction of its 696 pages? How many more shuddered at the thought of committing $40 to such a venture? And how many of Piketty’s groundshaking concepts have gone unappreciated, all for want of intellectual stamina?Deliverance is at hand in the form of Pocket Piketty, written in clear and accessible prose by an experienced economist and teacher–and one whose work was relied on by Piketty for his masterpiece. In this handy and slim volume, Jesper Roine explains all things Piketty.

    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.