Wall Street Capitalism

Wall Street Capitalism

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Breaking the chains of the bond market... This book goes behind the headlines of the Wall Street Journal to unmask the qbondholding classq. Insulated from criticism by a self-serving ideology, the bondholders have redefined the indicators of economic well-being decidedly in Wall Street's favor. Created out of the fiscal folly of Reaganomics, fortified by Federal Reserve officials, and patronized by the Clinton Administration, the bondholding class invented the qGoldilocks economyq (never too hot, never too cold). As this powerful class has amassed the greatest wealth in history, ordinary Americans have been losing ground to the ensuing global financial turbulence. In a tour de force, Ray Canterbery shows how the evaporation of personal savings -- qthe Angels shareq -- is as necessary to Wall Street capitalism as it is damaging to growth and wages on Main Street.the plantation during the Civil War: the market takes a dive because people sell their stocks, not because of any bad ... an abrupt, surprising fed funds rate increase could cause panic and the greatest stock market crash in American history.

Title:Wall Street Capitalism
Author: E. Ray Canterbery
Publisher:World Scientific - 2000

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