Dumb Money: How Our Greatest Financial Minds Bankrupted the Nation by Daniel Gross, (2009)
The author writes for Newsweek and other column on money and economic subjects. This is a slim (101 pages) volume that has a great deal of detail on aspects of the 2008 financial meltdown without too much talk about LIBOR and tranches.
You can tell the author has a sense of humor by the name of the first chapter title: WTF. The utter disregard for the average person for the banksters is revealed in a quote the author cites of the still not-ashamed-enough to keep his mouth shut, Henry [Hank] Paulson (“former Goldman Sachs CEO running the financial system, quickly shifted to a clueless groper in the dark”) and the pathetic excuse for a human Alan Greenspan (BTW, married to Andrea Mitchell, broadcaster). He is, however, an undeniably interesting man when you read his Wikipedia entry. For example, he attended Juilliard, no small feat to get in, and played in a band. Music and match do often go together. But I guess it was too hard to make a living, so he moved on to economics (NYU summa cum laude). A note in the Wiki entry is that he specifically asked that his 1977 PhD dissertation be removed from NYU after he became Chairman of the Fed. Barron’s supposedly got a copy of it anyway (should be PUBLIC, especially now retired) and
notes that it includes “a discussion of soaring housing prices and their effect on consumer spending; it even anticipates a bursting housing bubble”.
This woman proves the point that a single person can change the world. Alas, the implication is generally that the world can be changed for the better. Not so with Phyllis Schlafly who fucked a generation and more of women while living a life she wanted to denied the rest of us. And her big bogeymen, mixed sex bathrooms and women in combat and subject to the draft arrived anyway! Meanwhile we are still underpaid, undervalued, and fighting for personal autonomy and against forced birth. And she’s still alive (91), dammit. And still self-righteous. And still an evil horrible human being. But that doesn’t maker her wrong about everything. And I was shocked and a little horrified that this book contains many facts that everyone should know, although perhaps interpret them somewhat differently.
Yet it is funny because, unlike the deep and resounding hatred I hold for Henry Hyde (deceased 2007), Jesse Helms (deceased 2008), and the blessedly dead (2016) Antonin Scalia, somehow I seem to be acting in a sex discriminatory manner for not hating this woman as much as these men. Don’t get me wrong, I do hate her and what she did to stop the simple ERA and her absurd belief that women should stay home and have babies and be good Christian Madonnas serving and servicing their husbands regardless of abuse, adultery, or financial withholding. She is a smart Harvard-educated woman, a lawyer, and a mother of six. She remains a plague upon our nation continuing her involvement with Republicans “usually as a delegate, at every Republican National Convention since 1952” (back jacket copy).
Her heir apparent is the revolting Ann Coulter who did a back jacket blurb that will give me nightmares:
A Choice Not an Echo “changed the Republican Party forever. . . Without Schlafly, without that book, without Goldwater’s candidacy [and Hillary Clinton as a supporter], it is unlikely that RONALD REAGAN would ever have been elected president.”
Oh for a time machine! Of course the problem with that is you cannot tell if you would make matters worse (such as killing Hitler alternative histories, though with him never born, pretty sure the world would have been better off under any scenario). I try to picture a world without her effect, without Reagan, without Hyde and Helms, and especially without the legacy of Scalia (and Thomas and Alito and Mitch McConnell and all the other slime we are living with that are killing democracy and the rights of women. Toss in the rise of the un-Christian theocrats, the American caused rise of radical Islam (that is, the rise of murderous bullies and thugs in the name of religion, oh wait, that applies to the forced-birther Christians too!), and the state of perpetual war, the rule of the few, the theft of economic security and rise of the debtor slaves, oh the dominoes go everywhere and reach everyone. To my sorrow. The damage she has done really needs an in-depth historical review.