16 of 18 people found the following review helpful
4.5 Stars-First book to demonstrate how completely Obama is controlled by Wall Street,
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This review is from: The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street (Kindle Edition)
Scheer has done an excellent job in this book in exposing Obama's allegiance to economic,financial,housing,and health care policies that are basically formulated by Wall Street connected economists and policy makers.The socalled " reform " legislation that Obama has passed,such as the financial reform package written by Wall Street controlled Democratic politicians like Senator Dodd, Senator Schumer,and Representative Frank ,is like a swiss cheese-full of all kinds of loop holes that will allow Wall Street to(a) continue creating the financial bubbles that the hedge funds,private equity firms ,investment banks and giant commercial banks have been generating since the 1984 period and (b)continue the destruction of the American industrial -manufacturing sector througn a libertarian " free trade " policy that was explicitly rejected by Adam Smith in the Wealth of Nations in 1776 (See pp. 434-439 of the Modern Library (Cannan ) edition with the foreward by Max Lerner for Smith's obliteration of the " Free Trade " argument).
The Wall Street attack on Main Street is a two pronged attack emphasizing continued financial speculation and securitization practices based on the increased use of financial derivatives combined with the hollowing out and downsizing of the American industrial manufacturing sector.It emphasizes a speeding up of the current rate of outsourcing of American jobs.
I have subtracted one half of a star due to Scheer's silence about the fact that the Wall Street war on the lower and middle income classes has been extensively discussed by Ross Perot,Patrick Buchanan,Lou Dobbs,Paul O'Neill and other conservatives since the early 1990's.Perhaps a third Party coalition is needed in which Scheer and Nader would join forces with the above mentioned real conservatives to prevent or mitigate the current negative economic trend .