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Bought and Paid For: The Hidden Relationship Between Wall Street and Washington

Overview

A top reporter exposes the deep ties between the Obama administration and the big banks that are bankrupting our country.

As the recession continues, President Obama has chastised the "fat cats" who feast off government bailout money while unemployment remains high and smaller businesses struggle.

But according to Gasparino, Obama is faking his outrage, and his calls for new policies to rein in banks that are "too big to fail" are just pabulum....

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Bought and Paid For: The Hidden Relationship Between Wall Street and Washington

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Overview

A top reporter exposes the deep ties between the Obama administration and the big banks that are bankrupting our country.

As the recession continues, President Obama has chastised the "fat cats" who feast off government bailout money while unemployment remains high and smaller businesses struggle.

But according to Gasparino, Obama is faking his outrage, and his calls for new policies to rein in banks that are "too big to fail" are just pabulum. In reality, Obama has climbed into bed with Wall Street CEOs, giving them what they want so they will support his liberal, big- government agenda. As a result, the big banks responsible for the credit crisis get rescued, while small businesses and ordinary Americans get crushed by higher taxes and irresponsible spending.

Gasparino draws on interviews with dozens of key CEOs and political players to trace the roots of Wall Street's twisted love affair with one of the most liberal presidents in American history. He shows how, for decades, big banks and big business have colluded with big government, thereby laying the groundwork for today's shady dealings, and how the same bankers Obama now publically reprimands have supported him-not because he promises change, but because he promises business.

Written in Gasparino's characteristic smart yet no-nonsense style, this book is both an exposé and a wake-up call to all Americans to strike back against the people and policies who are ruining our country.

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Editorial Reviews

Newsweek
“Gasparino has consistently broken news on some of the biggest financial scandals of recent years. . . . Charlie is one of the best reporters in the field.” —Mark Whitaker, former editor
Financial Times
“A tough outsider willing to go to battle with anyone—colleague or contact—in pursuit of the story.”
Vanity Fair
“An especially aggressive reporter.”
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Product Details

  • ISBN-13: 9781591845362
  • Publisher: Penguin Group (USA) Incorporated
  • Publication date: 7/31/2012
  • Pages: 304
  • Sales rank: 1,408,657
  • Product dimensions: 5.40 (w) x 8.30 (h) x 0.80 (d)

Meet the Author


Charles Gasparino is an award-winning investigative reporter and bestselling author who has covered financial news for major media such as Newsweek, the Wall Street Journal, and CNBC. He is a senior correspondent for Fox Business Network and a frequent contributor to Forbes, the New York Post, The Huffington Post, and The Daily Beast. His book The Sellout was a New York Times bestseller. Charles lives in New York City. Lloyd James has been narrating since 1996, has recorded over six hundred books in almost every genre, has earned six AudioFile Earphones Awards, and is a two-time nominee for the prestigious Audie Award. His bestselling and most critically acclaimed performances include Elvis in the Morning by William F. Buckley, Jr., Ben Hur by Lew Wallace, Searching for Bobby Fischer by Fred Waitskin, and Mystic Warrior by Tracy and Laura Hickman. Lloyd's background as a performer includes extensive work in classical theater and folk music. He lives in Maryland with his wife and children.
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Table of Contents

A Partial List of Wall Street Firms and Executives Who Made Donations to Political Candidates Since 2008 ix

Introduction 1

1 A Secretive Meeting 17

2 The Left Side of Wall Street 43

3 Deep, Deep Roots 71

4 "So, Do You Want to Come to the Administrations?" 91

5 "We Know Each Other from Chicago" 113

6 Doing God's Work 137

7 Fat Cats and Fat Bonuses 157

8 Money Well Spent 181

Afterword: Where Do We Go from Here? 237

Epilogue 244

Acknowledgments 250

Appendix I Key People 252

Appendix II Key Firms, Government Departments, and Organizations 261

Appendix III A Few Key Financial Terms and Concepts 266

Notes 272

Index 285

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