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The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street By Robert Scheer “Robert Scheer has used his skills as one of the best investigative reporters to show that the deregulation philosophy from Reagan to Clinton and both Bushes led to the near collapse of our financial institutions and the Great Recession from which we are still suffering.” REPRESENTATIVE HENRY WAXMAN, Chairman of the House Energy and Commerce Committee “The Great American Stickup exposes the ugly truth behind the economic meltdown: the fix is in. Seduced by campaign cash and hordes of lobbyists, political leaders of both parties regularly do Wall Street's bidding--leaving Main Street to fend for itself. Even worse, Scheer shows that the people that nearly drove our economy over the cliff still have their hands on the wheel.” ARIANNA HUFFINGTON, co-founder and editor-in-chief of the Huffington Post “Robert Scheer is among the vanishing breed of journalists who take it as a patriotic duty to criticize power no matter who wields it. Whatever your views on financial regulation, The Great American Stickup makes nauseatingly clear that both major parties—including the current and former president—colluded with banks ‘and left the rest of us holding the bag” MATT WELCH, editor-in-chief of Reason magazine “Robert Scheer, one of our most brilliant journalists, shows how we have been fleeced by Wall Street and our bankrupt political class. Those in the halls of Congress, the White House, the Federal Reserve, the Treasury Department and the corporate offices of high finance have ignored the common good, trashed the economy, set us on a course for another economic shipwreck and looted the U.S. Treasury of trillions of taxpayer dollars to sustain a system of casino capitalism.” CHRIS HEDGES, Senior fellow of The Nation Institute and author of Empire of Illusion

Additional Material:

• Introducing The Great American Stickup

  
  



• Reviews

  • LA Times

    By Jonathan Kirsch
    October 18 2010

    Robert Scheer is a journalist in the gadfly tradition of Lincoln Steffens, I. F. Stone and Seymour Hersh. His latest book, "The Great American Stickup," blames the "captains of finance" for causing the 2008 "meltdown" of the global economy in the first place and then profiting from the tax dollars that were thrown at the problem — "a giant hustle that served the richest of the rich," as he puts it, "and left the rest of us holding the bag."
    

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  • USA Today

    As promised, muckraking liberal journalist Robert Scheer delivers an opinionated screed on what (and mostly who) he thinks caused the financial calamity of 2008-09. The surprise is that Scheer, editor-in-chief of the Truthdig site and a contributing editor at The Nation, casts blame primarily on Democrats while going fairly easy on the bankers.
    To politicians and bankers who say there was no way they could have foreseen the financial meltdown, Scheer says: Baloney.
    The way he sees it, the groundwork — or what he calls "the giant hustle" — was laid by the Clinton White House in 1999 and 2000. That's when the administration and Republican congressional leaders passed two key deregulation laws: the Financial Services Modernization Act and the Commodity Futures Modernization Act...

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  • Publishers Weekly (8/30/10)

    The Great American Stickup: How Reagan Republicans and Clinton Democrats Enriched Wall Street While Mugging Main Street Robert Scheer, Nation, $15.95 paper (288p) ISBN 978-1-56858-434-8 Following Ronald Reagan’s obsession with the “radical deregulation” of financial markets through its apotheosis under the Clinton administration to Obama’s reform efforts--which rely, oddly enough, on Clinton cronies to clean up (and profit from) the mess they made--Scheer (The Pornography of Power) proves that, when it comes to the ruling sway of money power, Democrats and Republicans, Wall Street and Washington make very agreeable bedfellows. Scheer names names (Robert Rubin, Lawrence Summers, Alan Greenspan), while praising those who sounded the alarm and underscoring the foreseeable results of putting Wall Street in the driver’s seat. What grew in this regulatory vacuum, Scheer shows, was a global “casino,” a mind-bendingly enormous and arcane system of gambling on new financial products worth hundreds of trillions of dollars. By 2007, when the house of cards collapsed, Wall Street alone understood what it had wrought while its government partners remained clueless. (Oct.)

    
    
    

• Interviews

  • Robert Scheer on the Medved show :

  • Amy Goodman interviews Robert Scheer:

  
  
  • Perseus Books Interview with Robert Scheer
  
  
  • The Gary Null Show Sept. 8, 2010
  
  
  • The Conversation with Ross Reynolds Sept. 9, 2010
  
  
  • Living Room with Kris Welch Sept. 11, 2010
  
  
  • The Faith Middleton Show Sept. 12, 2010



• Book Excerpt

• Book Tour Calendar

  



• Other Books By Robert Scheer