Reckless!; How Debt, Deregulation, and Dark Money Nearly Bankrupted America (And How We Can Fix It!)

New York: St. Martin's Press, June 2009. First Edition [Stated], First Printing [Stated]. Hardcover. xvi, [2], 268, [2] pages, Acknowledgments, Preface, Introduction, Bibliography, and Index. Inscribed on the title page by the author. Inscription reads: To Lindsey, Best Wishes! Bryon l. Dorgan, U.S.S. This book includes Acknowledgments, Preface, Introduction, and Chapters on: The Good Old Days: I Remember When...; a Financial House of Cards; Addicted to Debt; Shining a Light on Dark Money; Tax That Guy Behind the Tree!; Incomes from Outer Space; The Price of War; The Profits of War; Drill, Baby, Drill? Health Care: A Leading Cause of Stress; Cheap Labor; and Hope. Also includes a Bibliography and an Index. Senator Dorgan has represented North Dakota in the O.S. Senate beginning in December 1992. In 1998, he was named the chairman of the Democratic Policy Committee. From 1995 to 1998, he served in the Democratic leadership as Assistant Floor Leader. In clear, piercing language, Dorgan explains the mortgage crisis, showing how the profit motive led financial institutions to combine risky subprime mortgages with AAA securities. In order to increase their incomes, mortgage brokers were willing to promote subprime mortgages with hidden escalating payments to consumers with bad credit. Soon large financial institutions with prestigious names were discovering toxic assets embedded with subprime loans that had gone bad. The author is indignant at the fact that top hedge-fund managers make billions in annual income and yet pay only a 15 percent tax rate by redefining their income as “carried interest.” Dorgan makes no apologies for his liberal viewpoints. His anger at the private, no-bid Iraq war contracts awarded to companies like Halliburton is understandable, and he’s adamant about the necessity of oversight and regulation—specifically as it relates to the tax loopholes exploited by hedge-fund managers. Eye-opening, timely and inspirational. Condition: Very good / Very good.

Keywords: O.S. Policy on Trade and Jobs, Debt, Health Care, Alternative Energy, Bank Crisis, Economic Policy, Hedge Funds, Regulation, Taxes, Iraq War

ISBN: 9780312383039

[Book #79129]

Price: $50.00

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