Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate ALL American businesses,  putting us on a collision course for another cataclysmic meltdown. Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Time assistant managing editor and economic columnist Rana Foroohar shows how the “financialization of America” - the trend by which finance and its way of thinking have come to reign supreme - is perpetuating Wall Street's reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream. Policy makers get caught up in the details of regulating “Too Big To Fail” banks, but the problems in our market system go much broader and deeper than that. Consider that: · Thanks to 40 years of policy changes and bad decisions, only about 15 % of all the money in our market system actually ends up in the real economy – the rest stays within the closed loop of finance itself. · The financial sector takes a quarter of all corporate profits in this country while creating only 4 % of American jobs. · The tax code continues to favor debt over equity, making it easier for companies to hoard cash overseas rather than reinvest it on our shores. · Our biggest and most profitable corporations are investing more money in stock buybacks than in research and innovation. · And, still, the majority of the financial regulations promised after the 2008 meltdown have yet come to pass, thanks to cozy relationship between our lawmakers and the country’s wealthiest financiers.       Exploring these forces, which have have led American businesses to favor balancing-sheet engineering over the actual kind and the pursuit of short-term corporate profits over job creation, Foroohar shows how financialization has so gravely harmed our society, and why reversing this trend is of grave importance to us all. Through colorful stories of both "Takers” and "Makers,” she’ll reveal how we change the system for a better and more sustainable shared economic future.

    Stiglitz explains the current financial crisis—and the coming global economic order. The current global financial crisis carries a “made-in-America” label. In this forthright and incisive book, Nobel Laureate Joseph E. Stiglitz explains how America exported bad economics, bad policies, and bad behavior to the rest of the world, only to cobble together a haphazard and ineffective response when the markets finally seized up. Drawing on his academic expertise, his years spent shaping policy in the Clinton administration and at the World Bank, and his more recent role as head of a UN commission charged with reforming the global financial system, Stiglitz outlines a way forward building on ideas that he has championed his entire career: restoring the balance between markets and government, addressing the inequalities of the global financial system, and demanding more good ideas (and less ideology) from economists. Freefall is an instant classic, combining an enthralling whodunit account of the current crisis with a bracing discussion of the broader economic issues at stake.

    Starting with the leak to the press of Roosevelt's famous Rainbow Plan, then spiraling back to FDR's inept prewar diplomacy with Japan, and his various attempts to lure Japan into an attack on the U.S. Fleet in the Pacific, Fleming takes the reader inside the incredibly fractious struggles and debates that went on in Washington, the nation, and the world as the New Dealers, led by FDR, strove to impose their will on the conduct of the War. Unlike the familiar yet idealized FDR of Doris Kearns Goodwin's No Ordinary Time, the reader encounters a Roosevelt in remorseless decline, battered by ideological forces and primitive hatreds which he could not handle-and frequently failed to understand-some of them leading to unimaginable catastrophe. Among FDR's most dismaying policies, Fleming argues, were an insistence on "unconditional surrender" for Germany (a policy that perhaps prolonged the war by as many as two years, leaving millions more dead) and his often uncritical embrace of and acquiescence to Stalin and the Soviets as an ally. For many Americans, Franklin Delano Roosevelt is a beloved, heroic, almost mythic figure, if not for the "big government" that was spawned under his New Deal, then certainly for his leadership through the War. The New Dealers' War paints a very different portrait of this leadership. It is sure to spark debate.

    This concise, energetic manifesto from the Debt Collective is in equal parts informative and inspiring, and is sure to become a crucial reference point for activists and debt cancellation campaigners. Includes a foreword from Debt Collective co-founder and acclaimed activist-author, documentarian, and musician Astra Taylor.

    At first, the drop seemed like a mistake, a mere glitch in the system. But as the decline gathered steam, so did the destruction. Over twenty-five billion dollars in individual wealth was lost, vanished gone. People watched their dreams fade before their very eyes. Investing in the stock market would never be the same. Here, Wall Street Journal bureau chief Karen Blumenthal chronicles the six-day period that brought the country to its knees, from fascinating tales of key stock-market players, like Michael J. Meehan, an immigrant who started his career hustling cigars outside theaters and helped convince thousands to gamble their hard-earned money as never before, to riveting accounts of the power struggles between Wall Street and Washington, to poignant stories from those who lost their savings -- and more -- to the allure of stocks and the power of greed. For young readers living in an era of stock-market fascination, this engrossing account explains stock-market fundamentals while bringing to life the darkest days of the mammoth crash of 1929.

    They believed too many middling Americans exercised too much influence over state and national policies. That the framers were only partially successful in curtailing citizen rights is due to the reaction, sometimes violent, of unruly average Americans.   If not to protect civil liberties and the freedom of the people, what motivated the framers? In Unruly Americans and the Origins of the Constitution, Holton provides the startling discovery that the primary purpose of the Constitution was, simply put, to make America more attractive to investment. And the linchpin to that endeavor was taking power away from the states and ultimately away from the people. In an eye-opening interpretation of the Constitution, Holton captures how the same class of Americans that produced Shays’s Rebellion in Massachusetts (and rebellions in damn near every other state) produced the Constitution we now revere. Unruly Americans and the Origins of the Constitution is a 2007 National Book Award Finalist for Nonfiction.

    Treasury. And Alva Vanderbilt squandered tens of thousands on one evening to crack the closed social circle of the Mrs. Astor. And when Jay Gould, of Black Friday fame, sent his card to one of the Rothschilds, it was returned with the comment, "Europe is not for sale." It was this climate of mid- and late-nineteenth-century excess that fostered the most rapid period of growth in the history of the United States, replacing the unyielding Puritanism of Cotton Mather with the flexible creed of Henry Ward Beecher. National Book Award nominee Milton Rugoff gives his uniquely revealing view of the Gilded Age in this collective biography of Americans from 1850 to 1890. Writing on the political spoilsmen, money kings, parvenus, forty-niners, lords of the press, sexual transgressors, and women's rights leaders, Rugoff focuses on thirty-six men and women from almost every walk of life. His exponents include U.S. Grant, John Charles Frémont, Cornelius Vanderbilt, Jim Fisk, Elizabeth Cady Stanton, Horatio Alger, free-love advocate Victoria Woodhull, first female surgeon Bethenia Owens-Adair, Brigham Young's rebellious nineteenth wife Anna Eliza Young, Boston Brahmin Charles Eliot Norton, Gold Rush pioneer Sarah Royce, black visionary Sojourner Truth, and to critique American society, Walt Whitman. In examining the Gilded Age, Milton Rugoff offers fresh glimpses into the lives of the celebrities of the era, as well as some lesser-known Americans, while at the same time revealing the roots of problems that still plague us today.

    In Havana Nocturne, T.J. English offers a multifaceted true tale of organized crime, political corruption, roaring nightlife, revolution & international conflict that interweaves the dual stories of the Mob in Havana & the event that would overshadow it, the Cuban Revolution.As the Cuban people labored under a violently repressive regime throughout the 50s, Mob leaders Meyer Lansky & Charles "Lucky" Luciano turned their eye to Havana. To them, Cuba was the ultimate dream, the greatest hope for the future of the US Mob in the post-Prohibition years of intensified government crackdowns. But when it came time to make their move, it was Lansky, the brilliant Jewish mobster, who reigned supreme. Having cultivated strong ties with the Cuban government & in particular the brutal dictator Fulgencio Batista, Lansky brought key mobsters to Havana to put his ambitious business plans in motion. Before long, the Mob, with Batista's corrupt government in its pocket, owned the biggest luxury hotels & casinos in Havana, launching an unprecedented tourism boom complete with the most lavish entertainment, the world's biggest celebrities, the most beautiful women & gambling galore. But their dreams collided with those of Fidel Castro, Che Guevara & others who would lead the country's disenfranchised to overthrow their corrupt government & its foreign partners—an epic cultural battle that English captures in all its sexy, decadent, ugly glory. Bringing together long-buried historical information with English's own research in Havana—including interviews with the era's key survivors—Havana Nocturne takes readers back to Cuba in the years when it was a veritable devil's playground for mob leaders. English deftly weaves together the parallel stories of the Havana Mob—featuring notorious criminals such as Santo Trafficante Jr & Albert Anastasia—& Castro's 26th of July Movement in a riveting, up-close look at how the Mob nearly attained its biggest dream in Havana—& how Fidel Castro trumped it all with the revolution.

     In The Hellhound of Wall Street, Michael Perino recounts in riveting detail the 1933 hearings that put Wall Street on trial for the Great Crash. Never before in American history had so many financial titans been called to account before the public, and they had come within a few weeks of emerging unscathed. By the time Ferdinand Pecora, a Sicilian immigrant and former New York prosecutor, took over as chief counsel, the investigation had dragged on ineffectively for nearly a year and was universally written off as dead. The Hellhound of Wall Street provides a minute-by-minute account of the ten dramatic days when Pecora turned the hearings around, cross- examining the officers of National City Bank (today's Citigroup), particularly its chairman, Charles Mitchell, one of the best known bankers of his day. Mitchell strode into the hearing room in obvious disdain for the proceedings, but he left utterly disgraced. Pecora's rigorous questioning revealed that City Bank was guilty of shocking financial abuses, from selling worthless bonds to manipulating its stock price. Most offensive of all was the excessive compensation and bonuses awarded to its executives for peddling shoddy securities to the American public. Pecora became an unlikely hero to a beleaguered nation. The man whom the press called "the hellhound of Wall Street" was the son of a struggling factory worker. Precocious and determined, he became one of New York's few Italian American lawyers at a time when Italians were frequently stereotyped as anarchic criminals. The image of an immigrant lawyer challenging a blue-blooded Wall Street tycoon was just one more sign that a fundamental shift was taking place in America. By creating the sensational headlines needed to galvanize public opinion for reform, the Pecora hearings spurred Congress to take unprecedented steps to rein in the freewheeling banking industry and led directly to the New Deal's landmark economic reforms. A gripping courtroom drama with remarkable contemporary relevance, The Hellhound of Wall Street brings to life a crucial turning point in American financial history.

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    The authors, however, bring this story alive in a fast-moving book, and the reader sees how events of that time are very relevant for today's financial world. In spite of all of our advances, including a stronger monetary system and modern tools for managing risk, Bruner and Carr help us understand that we are not immune to a future crisis.- --Dwight B. Crane, Baker Foundation Professor, Harvard Business School -Bruner and Carr provide a thorough, masterly, and highly readable account of the 1907 crisis and its management by the great private banker J. P. Morgan. Congress heeded the lessons of 1907, launching the Federal Reserve System in 1913 to prevent banking panics and foster financial stability. We still have financial problems. But because of 1907 and Morgan, a century later we have a respected central bank as well as greater confidence in our money and our banks than our great-grandparents had in theirs.- --Richard Sylla, Henry Kaufman Professor of the History of Financial Institutions and Markets, and Professor of Economics, Stern School of Business, New York University-A fascinating portrayal of the events and personalities of the crisis and panic of 1907. Lessons learned and parallels to the present have great relevance. Crises and panics are as much a part of our future as our past.- --John Strangfeld, Vice Chairman, Prudential Financial-Who would have thought that a hundred years after the Panic of 1907 so much remained to be written about it? Bruner and Carr break significant new ground because they are willing to do the heavy lifting of combing through massive archival material to identify and weave together important facts. Their book will be of interest not only to banking theorists and financial historians, but also to business school and economics students, for its rare ability to teach so clearly why and how a panic unfolds.- --Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University, Graduate School of Business

    Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers - as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.

    The dust had yet to settle on the global financial crisis in 2009 when an unlikely Wharton grad was setting in motion a fraud of unprecedented gall and magnitude--one that would come to symbolize the next great threat to the global financial system. Billion Dollar Whale will become a classic, harrowing parable about the financial world in the twenty-first century.

    Likewise, there is no stronger foe of zombie economics, the misunderstandings that just won’t die.In Arguing with Zombies, Krugman tackles many of these misunderstandings, taking stock of where the United States has come from and where it’s headed in a series of concise, digestible chapters. Drawn mainly from his popular New York Times column, they cover a wide range of issues, organized thematically and framed in the context of a wider debate. Explaining the complexities of health care, housing bubbles, tax reform, Social Security, and so much more with unrivaled clarity and precision, Arguing with Zombies is Krugman at the height of his powers.Arguing with Zombies puts Krugman at the front of the debate in the 2020 election year and is an indispensable guide to two decades’ worth of political and economic discourse in the United States and around the globe. With quick, vivid sketches, Krugman turns his readers into intelligent consumers of the daily news and hands them the keys to unlock the concepts behind the greatest economic policy issues of our time. In doing so, he delivers an instant classic that can serve as a reference point for this and future generations.

    It was like roaring surf, one of them said later. Like a runaway two-horse team smashing through a fence, said another. A third firefighter jumped up from his chair to look out a window-"Oh my God!" he shouted to the other men, "Run!"A 50-foot-tall steel tank filled with 2.3 million gallons of molasses had just collapsed on Boston's waterfront, disgorging its contents as a 15-foot-high wave of molasses that at its outset traveled at 35 miles an hour. It demolished wooden homes, even the brick fire station. The number of dead wasn't known for days. It would be years before a landmark court battle determined who was responsible for the disaster.