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How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War Paperback – September 1, 2011

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Editorial Reviews


"Steve Lendman is one of America's leading critics...Fearless, thoroughly documented and judicious, Lendman's essays are a major contribution to the struggle for social justice in America." -- James Petras

"I think this text is terrific, just what is needed, very clear, informative beyond most people's ken, easy to read, and of ultimate importance to steering economic and political recovery." JOHN McMURTRY Unequal Freedoms: The Global Market as an Ethical System

"A comprehensive understanding of Wall Street's manipulations of markets, money and power to the detriment of working people everywhere ." Peter Phillips, PROJECT CENSORED

About the Author

Stephen Lendman is a writer and broadcaster. His work is exceedingly widely distributed online, with his articles carried on numerous listservs and websites such as Information Clearing House, Countercurrents, Rense, AltNews, Uruknet, Global Research, Counterpunch, and more. In early 2007, he began regular radio hosting, now The Progressive Radio News Hour on The Progressive Radio Network. He is co-author with J.J. Asongu of The Iraq Quagmire: The Price of Imperial Arrogance. He holds a BA from Harvard and an MBA from Wharton.

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Product Details

  • Paperback: 216 pages
  • Publisher: Clarity Press (September 1, 2011)
  • Language: English
  • ISBN-10: 0983353948
  • ISBN-13: 978-0983353942
  • Product Dimensions: 6 x 9 x 9 inches
  • Shipping Weight: 12.2 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #1,565,168 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

22 of 24 people found the following review helpful By Robert David STEELE Vivas HALL OF FAMETOP 1000 REVIEWER on June 6, 2012
Format: Paperback
I've had this book in my stack of "to be read" books for some time now, and now that I have read it, I deeply regret not getting to it sooner. Although I have read and reviewed a number of vital serious books in this field, and list ten of them below, I have to say this is easily the single best book of the lot, and I put it into 6 stars and beyond -- out of the 1,800 plus books I have reviewed at Amazon, fewer than 10% get this rating.

Perhaps because I had already read the ten books below, I was absolutely floored by the clarity, organization, precision, simplicity, intelligence, and general integrity of this book and its author. Please do take advantage of the Look Inside the Book feature that Amazon offers (click on book cover above). In seventeen chapters, the author has brought to the public a work of elegant explosive yet balanced and measured, FACTS with CONTEXT.

If you read only one book on the destruction of the US economy, the destruction of the US Republic, the destruction of legitimate governance in the USA, this is the one book I recommend. It should not only be read, but also shared. As I go back over the table of contents thinking about what to highlight (I no longer mark up books now that I donate them all as I finish reading them), I am just blown away by the medticulous, sensible, systematic, intuitively coherent manner in which the author starts with the fraud and treason of the Federal Reserve (neither Federal nor a reserve), and ends with his prescription for public banking that I heartily respect.

This book is both a good undergraduate and public reader, and a very fine introductory overview for graduate students.
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18 of 21 people found the following review helpful By R. A. Barricklow VINE VOICE on October 26, 2011
Format: Paperback Verified Purchase
The struggle of man against power is
the struggle of memory against forgetting.

Lendman's book reminds me of the early American spirit of pamphleteering. This, in the sense, that those writings culminated in the classic 1776 pamplhet: Common Sense by Thomas Paine. Remember that struggle? Benjamin Franlin leaves us his autobiography of the times and in it, he tells us, in no uncertain terms, that/The colonies would gladly have borne the little tax on tea and other matters had not England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonist to get power to issue their own money permanently out of the hands of King George 111 and The INTERNATIONAL BANKERS was the PRIME REASON for the Revolutionary War.
Thomas Jefferson was furious when the U.S. allowed The 1st Bank of The United States(chartered 1791) the power of issuing our own debt by private bankers(our original continental script was massively conterfeited by (bank of) England to worthless paper. Jefferson thought our country may recover the power to issue it's own currency(reason for revolutionary war) when the Bank's charter came up for renewal in 1811. The head of the Bank of Engand warned that the United States would find itself involved in a most disasterous war if the Bank's charter was not renewed. The banks renewal was defeated by one vote in Congress(those were the days!). The War of 1812, was again a currency war, like the American Revolutionary War before.
The struggle of man against power is
the sruggle of memory against forgetting.
Indeed it is a continuous battle. Lincoln tried to get financing for the Civil War from the bankers. The wanted usurious rates around 24% to 36%(Rothschild's hands all over this war).
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7 of 7 people found the following review helpful By Luc REYNAERT on January 31, 2013
Format: Paperback
In this hard-hitting book Stephen Lendman paints a bleak portrait of the US today, while indicating the measures that have to be taken in order to save Main Street and democracy from extinction. His analysis is partly inspired by Ellen Brown's mightily important book `Web of Debt'.

A money-printing monopoly
A Wall-Street headquartered banking cartel controls the nation's money (supply), giving it virtually limitless power. Working together with the (its) government and corporate allies, it controls (rigs) world markets, resources and (cheap) labor in order to maximize profits.
Its power base is the Federal Reserve Board (Fed), controlled by the major shareholders of the big private banks which fully own it. The Fed possesses the sole right in the US to print money out of nothing and loaning it for profit. In the words of the author: it is `the world's greatest ever racket'.
This monopoly is exactly the contrary of the letter and the spirit of Milton Friedman's free market ideology.

Class war (pitting private wealth against public good)
Corporate profits are at record levels, while Main Street remains in depression, ravaged by very high unemployment (more than 20 % of the population), growing poverty, hunger, homelessness, foreclosures and austerity. Unprecedented concentration of wealth is created at the expense of middle class and lower incomes. Moreover, the wealthy are closing the door behind them by making education unaffordable for Main Street.
Actually, the US government is soaking households by attacking Social Security, Medicare and Medicaid with draconian cuts, while eroding constitutional freedoms and waging imperial wars for global dominance.
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