Architects of Ruin: How Big Government Liberals Wrecked the Global Economy--and How They Will Do It Again If No One Stops Them

( 13 )

Overview

Was the financial collapsecaused by free-market capitalismand deregulation run amok,as liberals claim?

Not on your life, says Peter Schweizer. In Architects of Ruin, Schweizer describes how a coalition of left-wing activists, liberal politicians, and “do-good capitalists” on Wall Street leveraged government power to achieve their goal of broadening homeownership among minorities and the poor. The results were not only devastating to the ...

See more details below
Paperback
$13.51
BN.com price
(Save 9%)$14.99 List Price
Other sellers (Paperback)
  • All (31) from $1.99   
  • New (15) from $1.99   
  • Used (16) from $1.99   
Architects of Ruin: How Big Government Liberals Wrecked the Global Economy--and How They Will Do It Again If No One Stops Them

Available on NOOK devices and apps  
  • NOOK Devices
  • NOOK HD/HD+ Tablet
  • NOOK
  • NOOK Color
  • NOOK Tablet
  • Tablet/Phone
  • NOOK for Windows 8 Tablet
  • NOOK for iOS
  • NOOK for Android
  • NOOK Kids for iPad
  • PC/Mac
  • NOOK for Windows 8
  • NOOK for PC
  • NOOK for Mac
  • NOOK Study
  • NOOK for Web

Want a NOOK? Explore Now

NOOK Book (eBook)
$10.99
BN.com price

Overview

Was the financial collapsecaused by free-market capitalismand deregulation run amok,as liberals claim?

Not on your life, says Peter Schweizer. In Architects of Ruin, Schweizer describes how a coalition of left-wing activists, liberal politicians, and “do-good capitalists” on Wall Street leveraged government power to achieve their goal of broadening homeownership among minorities and the poor. The results were not only devastating to the economy, but hurt the very people they were supposedly trying to help.

This tale of liberal “Robin Hood capitalism run wild” has never beentold. But more than just a story about the past, Architects of Ruin is also an urgent warning about the future. The very same people who planted the seeds of the collapse are back in Washington, determined to use the crisis they caused as cover for a massive overhaul of the American economic system. These people have learned nothing from their past mistakes and are busy applying the same methods to other sectors of the economy—health care, the auto industry, real estate (again!), and above all the promotion of“green” technologies—inflating bubbles that are sure to bring about another crisis. Ordinary Americans who foot the bill for the last state-capitalist bubble have reason to be afraid—very afraid—of the inevitable result.

Read More Show Less

Editorial Reviews

New York Times
Praise for DO AS I SAY, NOT AS I DO:“A spirited attack on lefty icons.”
Weekly Standard
“An entertaining exposure . . . In a series of 11 profiles on leftist icons from Noam Chomsky and Al Franken to Hillary Clinton and Ted Kennedy, Schweizer reveals that the most vocal liberals do not practice what they preach.”
New York Times
Praise for DO AS I SAY, NOT AS I DO:“A spirited attack on lefty icons.”
Weekly Standard
“An entertaining exposure . . . In a series of 11 profiles on leftist icons from Noam Chomsky and Al Franken to Hillary Clinton and Ted Kennedy, Schweizer reveals that the most vocal liberals do not practice what they preach.”
Read More Show Less

Product Details

  • ISBN-13: 9780061953378
  • Publisher: HarperCollins Publishers
  • Publication date: 11/23/2010
  • Pages: 217
  • Sales rank: 791,213
  • Product dimensions: 5.20 (w) x 7.90 (h) x 0.70 (d)

Meet the Author

Peter Schweizer is the author of numerous books, including Reagan's War, The Bushes, Makers and Takers, and Do as I Say (Not as I Do): Profiles in Liberal Hypocrisy. He is a research fellow at the Hoover Institution, Stanford University, and lives in Florida with his wife and children.

Read More Show Less

Table of Contents

Introduction: A Failure of Capitalism-or Liberal Social Engineering? ix

1 The Robin Hood Agenda 1

How a Gang of Radical Activists and Liberal Politicians Set the Stage for the Biggest Bank Heist in History

2 $4 Trillion Shakedown: The Left's Activist Jihad Against American Banks 28

3 The Clinton Crusade: How Democrats Made Credit a Civil Right 46

4 Cover Your Fannie: How Fannie Mae and Freddie Mac Were Taken Over by Liberal Activists 76

5 The Golden Trough: How Liberal Politicians Used Fannie and Freddie to Rig the Real Estate Market While Lining Their Own Pockets 104

6 Do-Good Capitalists: Bill Clinton's Seduction of Wall Street and the Birth of the Bailout Culture 120

7 Minority Meltdown: A Tale of Two Bubbles 152

8 Robin Hood Comes to the White House: How Barack Obama's Plans to Use Liberal State Capitalism Will Create the Next Big Economic Meltdown 167

Acknowledgments 185

Notes 189

Index 211

Read More Show Less

Customer Reviews

Average Rating 4.5
( 13 )
Rating Distribution

5 Star

(11)

4 Star

(0)

3 Star

(0)

2 Star

(1)

1 Star

(1)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
Sort by: Showing 1 – 17 of 13 Customer Reviews
  • Posted April 30, 2010

    Best book I've read this year.

    I haven't found any other book that thoroughly discusses the roots of the Great Recession of 2008. The evening news says, "it's the result of the 8 failed years of the Bush administration...giving a pass to the Wall Street 'fat cats'". I knew the housing bubble had to be the result of some long building systemic problem. Finally, a book that puts the whole picture together. There is plenty of blame to go around to everyone. However, today's biggest blamers are the people who have the most culpability.

    The book is well documented and footnoted. I am very anxious to read the other side's fact check on any assertions in the book that may be incorrect.

    3 out of 3 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted October 10, 2011

    more from this reviewer

    Eye opening

    The financial meltdown of 2008 has turned into one of the greatest economic crisis in history. Like most other economic crisis of that magnitude, it seemed to have come practically out of nowhere, and it will be analyzed and discussed by the historians, political scientists and economists for the decades to come. For all of us who have to live with its consequences it matters very little in the short run what really caused this crisis. However, it would be good to know with some level of certainty what major miscalculations lead to this unraveling of the global financial system, so hopefully we can avoid a similar fate in the future.

    The two main culprits have emerged for this latest economic catastrophe: the government-subsidized and controlled mortgage industry, and the Wall Street investment banks. Those on the political right had vilified the former ones, while the political left reserved all of its contempt for those "greedy" capitalist bankers. It turns, according to this book, that both sides are right. The mortgage industry has been systematically under the assault of various "community" organizations for almost half a century, and in that process it had been gradually forced to abandon many of its core landing standards in order to appease various activist interests groups. One of the more valuable qualities of this book is the very detailed reconstruction of the architecture of this process. In particular Schweizer claims that most of the rationale and the methods for the shakedown of banks can be traced to Chicago activist Saul Alinsky. I not knowledgeable enough on this subject to ascertain its veracity, but the fact remains that a significant number of high-ranking Democratic politicians and activists are the product of the "Chicago school." Schweizer does not refrain from naming names and this book is a much more ground-level description of the unsavory housing regulations and mortgage industry practices than for instance Thomas Sowell's The Housing Boom and Bust: Revised Edition.

    For me at least, the real eye-openers were the chapters that dealt with the financial industry. Far from being a bastion of pure capitalism, the Wall Street according to Schweizer had over the years become increasingly reliant on governmental support. The massive seven hundred billion dollars bailout in the fall of 2008 was only the latest instance of the federal government having to bail out the financial sector in recent decades. In effect, these large banks have come to expect that if anything were ever to happen to them they could rely on public money to get them out of the sticky situation. In a phrase that had since become widely used, they were "too large to fail." As in the case of the mortgage industry, I am far from being an expert in these matters, but the claims that Schweizer is making seem eminently plausible.

    This is an important book that reveals some startling facts about the interplay between the activist community organizers, banking industry and politics. As far as I am concerned, this is the most plausible and comprehensive explanation of the 2008 financial crisis. I hope as wide of an audience as possible gets to read it.

    1 out of 1 people found this review helpful.

    Was this review helpful? Yes  No   Report this review
  • Posted February 1, 2012

    This Book Will Open Your Mind

    When I started this book, I didn't trust our politicians...now I really don't....Peter's book is very informative and names names...it shows where the politicians loyality really lies...yes I said lies...they are in it for themselves and their cronies....for power and money....Washington is broken...it needs steam cleaning....you won't be able to put it down.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 21, 2012

    Good for rallies terribke for seriou discussion

    If you want to have pro market biases re afffirmed look no further... if you want critical aalysis of the crisis please avoid this book

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 15, 2012

    A must read before the election

    This book takes the reader back 30 years when the seeds of our economic ruin were sown. Liberal activists pushed the notion that home ownership was a civil right and through legislation and under the watchful eye of activist organizations, forced banks to make risky loans to people who were not credit worthy. The result was the subprime debacle and billions paid to the "too big to fail" crowd. This book is a fact-based eye-opener that needs to be read by anyone who clings to the notion that it's all Bush's fault.

    Was this review helpful? Yes  No   Report this review
  • Posted December 8, 2011

    Should be mandatory reading for the election!!

    Schweitzer chronicles how greed and mendacity nearly destroyed our banking system. The villains include the community activists including a young Barack Obama who were blackmailing banks to force them to make loans to people who could not or would not repay them, the politicians who wrote the laws that enabled this extortion, and the executives at Fannie Mae and Freddy Mac who conspired to spread the toxic debt throughout the financial system.

    Unfortunately; the book does not document the recent revelations about the involvement of Newt Gingrich who took over a million dollars to give the executives at Freddie Mac "history lessons."

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted January 3, 2011

    No text was provided for this review.

  • Anonymous

    Posted July 2, 2011

    No text was provided for this review.

  • Anonymous

    Posted January 22, 2010

    No text was provided for this review.

  • Anonymous

    Posted December 10, 2009

    No text was provided for this review.

  • Anonymous

    Posted January 6, 2010

    No text was provided for this review.

  • Anonymous

    Posted January 18, 2010

    No text was provided for this review.

  • Anonymous

    Posted August 6, 2011

    No text was provided for this review.

  • Anonymous

    Posted December 17, 2011

    No text was provided for this review.

  • Anonymous

    Posted April 19, 2010

    No text was provided for this review.

  • Anonymous

    Posted January 12, 2010

    No text was provided for this review.

  • Anonymous

    Posted June 18, 2010

    No text was provided for this review.

Sort by: Showing 1 – 17 of 13 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)