Customer Reviews

Wizards of Wall Street: & Washington Lap Dogs; The Scam That Elected Barack Obama: The Economic Crisis

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I am still waiting for our economy to recover and am wondering if present stimulus package and other recovery efforts are really going to work. And I begin to wonder if recovery is possible if our leaders don't really understand what caused our economy to crash in the first place.

Then I come across some information online about a new book by Zubi Diamond entitled "Wizards of Wall Street & Washington Lap dogs; The Scam That Elected Barak Obama. Diamond writes that President Obama is not aware that the crash was caused by financial advisors who have close access to the White House.

As I read a few more pages I learn that the author believes a group of highly-placed and influential hedge-fund conspirators convinced the SEC to eliminate safeguards that were in place since 1938 to prevent the stock market from crashing. One the SEC safeguards were gone, the conspirators engineered the near-collapse of our economic system. Diamond identifies George Soros as the mastermind of this effort.

This excerpt from the book is a good summary of what Diamond things of short-sellers: "Hedge Fund short sellers do not want price appreciation or increase in value, they only want and have an expectation of a future price decline and decrease in value leading to the destruction of the companies. Hedge Fund short sellers are not investors; they are masquerading as investors, they are the proverbial wolves in sheep's clothing; they are the financial market looters, selling what they never owned and stealing what they never owned, because that is what short selling allows them to do."

The author says our congressional committees and representative leaders have surrendered the responsibility to write policy and regulate banks and the stock market to hedge-fund short-sellers whose greed for power and money led them to subvert capitalism and our free economy.

Before recovery really is possible, says the author, the administration and congress must reinstate the uptick rule, circuit breakers and the trading curb, remove mark-to-market accounting and replace it with cost accounting, dismantle and quit trading all ETFs, regulate hedge funds in the same manner as mutual funds and pension funds, and regulate speculation on crude oil futures.

After reading the first chapter I was thinking that this is just another conspiracy theory book and was about to lay it down. But after reading the next three chapters I came to realize that Zubi Diamond had done a lot of research, had personal experience in the market, and seemed to know what he was talking about. This is a book that Republicans and Democrats alike should read. Come to think of it, maybe President Obama and Treasury Secretary Tim Geithner also should read Zubi Diamond's new book.

-- Emory Daniels

This small book is very informative for the non-financial individual: I now have a clearer picture of the what, how and why of the current financial meltdown and what must be done to correct it. This book answered several questions as to who was involved in the current financial mess and what part government regulators played in it. Mr Diamond makes it clear that the financial mess was intentionally created, not only to increase profits for a number of Hedge Fund managers but to interfere with the United States political systems with an eye toward the then-coming elections. Mr Diamond does not go into exactly what this political coup was meant to accomplish - that is for others to figure out. But he makes it clear that this was NOT an accident and that these international 'players' carefully timed their moves to create the most havoc within our financial systems. They have looted the 401(k)s and retirement savings of the middle class and will continue to drain money from the small investors as our economy continues to flounder. It cannot be stopped until reasonable regulation is once again put into place. Both these managers and government officials need to go to jail . . .they make Bernie Madoff look like a choirboy!

Not terribly professional in editing but still very informative. Gives you a good starting point to figure the whole scheme out!

We now live in a bankrupt country and people need to wake up! Our government has been sold to the highest bidder and is no longer serving the people. Thank you Mr. Diamond for having the courage to name names and offer a solution, which is way more than what most people are doing!

I had read some reviews and this book was mentioned. Also it was short book.
It asked questions that Members Of Congress should be asking the Hedge Traders. Like where did the 13 Trillion dollars go? Did it vanish into Thin Air. Why did the book written by Milton Friedman, which explained the rules that are in place and necessary to prevent another Depression, seems to have been used, to repeal these very laws; of course, those countries that keep the old system did not go through the Stock Market fall. And what is more interesting, the re-introduction of the laws and rules that existed, have not been re-instated as laws, so the American Stock Market is still vulnerable to a rigged Wall Street Casino. Note that Canada did not change the rules and had no DEPRESSION like we did, but we call it a Recession, which does not fit the definition. Only one prominent American Economist has called it a Depression. Germany did not follow Obama's order and SPEND YOURSELF INTO PROSPERITY; what ever happened to the concept of spend yourself into debt. Furthermore, Banks should not gamble with Depositors money, be able to keep the profits, and the losses are born by the taxpayer via the
FDIC. Other books, like David Horowitz's book, The Shadow Party also says similar things and corroborates this book Wizards of Wall Street. However, Horowitz's book was written in 2006 and foretold the events of 2008. These two books sum it up very well. If you have time, read Confessions of an Economic Hit Man and Hoodwinked, both by John Perkins. The hair on your head will stand up.

Lots of good information that is now somewhat out of date. The changes suggested by Mr. Diamond could still be acted on, but it would take Republican control of the House, the Senate and the White House, AND the motivation to do so. That said, the book is VERY, VERY REPETITIVE. It's too pricey... I would have felt much better if had paid around $10.00 for it.

This is more of an expose of who owns Barack Obama and put him in the White House!

This should be the #1 book for guidance to full economic recovery in America. After reading this informative book, I now understand what caused the economic crisis. Elected officials or regulators need to correct the problem and put America back to work again. I think the author's 7-point action plan to put America back to work and end home foreclosures will work. Those who want a permanent economic recovery should read this book. We need to help restore free market capitalism and restore America as the leading economic super power of the world.

I am glad someone has the courage to tell the truth by writing this book and clearly explaining what caused the economic collapse, and offers the correct solution to fix the problem.
This is a must read for all Americans, Republicans, and Democrats.
Bill Maher and Rush Limbaugh may actually have something in common, they will both like this book.

This may be the worst book (101 pages) ever written on the planet. Redundant and filled with grammatical errors.
This "book" is a pitiful attempt at communication....even for a ten year old. A total and complete waste of money.
This "book" gives self-publishers a very very bad name.