dark money the hidden history of the billionaires behind the rise of the radical right random house large print

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Dark Money

Author : Jane Mayer
ISBN : 9780385535601
Genre : Political Science
File Size : 76. 18 MB
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Why is America living in an age of profound economic inequality? Why, despite the desperate need to address climate change, have even modest environmental efforts been defeated again and again? Why have protections for employees been decimated? Why do hedge-fund billionaires pay a far lower tax rate than middle-class workers? The conventional answer is that a popular uprising against “big government” led to the ascendancy of a broad-based conservative movement. But as Jane Mayer shows in this powerful, meticulously reported history, a network of exceedingly wealthy people with extreme libertarian views bankrolled a systematic, step-by-step plan to fundamentally alter the American political system. The network has brought together some of the richest people on the planet. Their core beliefs—that taxes are a form of tyranny; that government oversight of business is an assault on freedom—are sincerely held. But these beliefs also advance their personal and corporate interests: Many of their companies have run afoul of federal pollution, worker safety, securities, and tax laws. The chief figures in the network are Charles and David Koch, whose father made his fortune in part by building oil refineries in Stalin’s Russia and Hitler’s Germany. The patriarch later was a founding member of the John Birch Society, whose politics were so radical it believed Dwight Eisenhower was a communist. The brothers were schooled in a political philosophy that asserted the only role of government is to provide security and to enforce property rights. When libertarian ideas proved decidedly unpopular with voters, the Koch brothers and their allies chose another path. If they pooled their vast resources, they could fund an interlocking array of organizations that could work in tandem to influence and ultimately control academic institutions, think tanks, the courts, statehouses, Congress, and, they hoped, the presidency. Richard Mellon Scaife, the mercurial heir to banking and oil fortunes, had the brilliant insight that most of their political activities could be written off as tax-deductible “philanthropy.” These organizations were given innocuous names such as Americans for Prosperity. Funding sources were hidden whenever possible. This process reached its apotheosis with the allegedly populist Tea Party movement, abetted mightily by the Citizens United decision—a case conceived of by legal advocates funded by the network. The political operatives the network employs are disciplined, smart, and at times ruthless. Mayer documents instances in which people affiliated with these groups hired private detectives to impugn whistle-blowers, journalists, and even government investigators. And their efforts have been remarkably successful. Libertarian views on taxes and regulation, once far outside the mainstream and still rejected by most Americans, are ascendant in the majority of state governments, the Supreme Court, and Congress. Meaningful environmental, labor, finance, and tax reforms have been stymied. Jane Mayer spent five years conducting hundreds of interviews-including with several sources within the network-and scoured public records, private papers, and court proceedings in reporting this book. In a taut and utterly convincing narrative, she traces the byzantine trail of the billions of dollars spent by the network and provides vivid portraits of the colorful figures behind the new American oligarchy. Dark Money is a book that must be read by anyone who cares about the future of American democracy.

Black Edge

Author : Sheelah Kolhatkar
ISBN : 9780812995817
Genre : Business & Economics
File Size : 70. 54 MB
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NEW YORK TIMES BESTSELLER • The story of the billionaire trader Steven A. Cohen, the rise and fall of his hedge fund, SAC Capital, and the largest insider trading investigation in history—for readers of The Big Short, Den of Thieves, and Dark Money. The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? Through meticulous reporting and powerful storytelling, New Yorker staff writer Sheelah Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance—and what happened when the Justice Department put him in its crosshairs. Cohen and his fellow pioneers of the hedge fund industry didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong—and for this they have gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now manage nearly $3 trillion in assets, and competition between them is so fierce that traders will do whatever they can to get an edge. Cohen was one of the industry’s greatest success stories. He mastered poker in high school, went off to Wharton, and in 1992 launched SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizardlike stock trading. He cultivated an air of mystery, reclusiveness, and extreme excess, building a 35,000 square foot mansion in Greenwich, Connecticut, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius. That image was shattered when SAC became the target of a sprawling, seven-year government investigation. Labeled by prosecutors as a “magnet for market cheaters” whose culture encouraged the relentless hunt for “edge”—and even “black edge,” or inside information—SAC was ultimately indicted in connection with a vast insider trading scheme, even as Cohen himself was never charged. Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions, and a window into the transformation of the U.S. economy. It’s a riveting, true-life legal thriller that takes readers inside the government’s pursuit of Cohen and his employees, and raises urgent questions about the power and wealth of those who sit at the pinnacle of modern Wall Street. Praise for Black Edge “A modern version of Moby-Dick, with wiretaps rather than harpoons.”—Jennifer Senior, The New York Times “Excellent.”—The Economist “If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list.”—The Wall Street Journal “A lot of people do not trust Wall Street. They regard it as a moneymaking machine for those who work there, which has little interest in practice in its stated aim of channeling capital into businesses and helping them to grow for the broader benefit of society. For such skeptics, Steven Cohen is Exhibit A.”—John Gapper, Financial Times “A richly reported, entertaining tale about the cat-and-mouse game between the government and Cohen.”—Andrew Ross Sorkin, The New York Times Book Review

American Heiress

Author : Jeffrey Toobin
ISBN : 9780385536721
Genre : True Crime
File Size : 84. 5 MB
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From New Yorker staff writer and bestselling author of The Nine and The Run of His Life: The People v. O. J. Simpson, the definitive account of the kidnapping and trial that defined an insane era in American history On February 4, 1974, Patty Hearst, a sophomore in college and heiress to the Hearst family fortune, was kidnapped by a ragtag group of self-styled revolutionaries calling itself the Symbionese Liberation Army. The already sensational story took the first of many incredible twists on April 3, when the group released a tape of Patty saying she had joined the SLA and had adopted the nom de guerre “Tania.” The weird turns of the tale are truly astonishing—the Hearst family trying to secure Patty’s release by feeding all the people of Oakland and San Francisco for free; the bank security cameras capturing “Tania” wielding a machine gun during a robbery; a cast of characters including everyone from Bill Walton to the Black Panthers to Ronald Reagan to F. Lee Bailey; the largest police shoot-out in American history; the first breaking news event to be broadcast live on television stations across the country; Patty’s year on the lam, running from authorities; and her circuslike trial, filled with theatrical courtroom confrontations and a dramatic last-minute reversal, after which the term “Stockholm syndrome” entered the lexicon. The saga of Patty Hearst highlighted a decade in which America seemed to be suffering a collective nervous breakdown. Based on more than a hundred interviews and thousands of previously secret documents, American Heiress thrillingly recounts the craziness of the times (there were an average of 1,500 terrorist bombings a year in the early 1970s). Toobin portrays the lunacy of the half-baked radicals of the SLA and the toxic mix of sex, politics, and violence that swept up Patty Hearst and re-creates her melodramatic trial. American Heiress examines the life of a young woman who suffered an unimaginable trauma and then made the stunning decision to join her captors’ crusade. Or did she? From the Hardcover edition.

The Divide

Author : Matt Taibbi
ISBN : 9780679645467
Genre : Political Science
File Size : 76. 89 MB
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NEW YORK TIMES BESTSELLER • NAMED ONE OF THE BEST BOOKS OF THE YEAR BY THE WASHINGTON POST, NPR, AND KIRKUS REVIEWS A scathing portrait of an urgent new American crisis Over the last two decades, America has been falling deeper and deeper into a statistical mystery: Poverty goes up. Crime goes down. The prison population doubles. Fraud by the rich wipes out 40 percent of the world’s wealth. The rich get massively richer. No one goes to jail. In search of a solution, journalist Matt Taibbi discovered the Divide, the seam in American life where our two most troubling trends—growing wealth inequality and mass incarceration—come together, driven by a dramatic shift in American citizenship: Our basic rights are now determined by our wealth or poverty. The Divide is what allows massively destructive fraud by the hyperwealthy to go unpunished, while turning poverty itself into a crime—but it’s impossible to see until you look at these two alarming trends side by side. In The Divide, Matt Taibbi takes readers on a galvanizing journey through both sides of our new system of justice—the fun-house-mirror worlds of the untouchably wealthy and the criminalized poor. He uncovers the startling looting that preceded the financial collapse; a wild conspiracy of billionaire hedge fund managers to destroy a company through dirty tricks; and the story of a whistleblower who gets in the way of the largest banks in America, only to find herself in the crosshairs. On the other side of the Divide, Taibbi takes us to the front lines of the immigrant dragnet; into the newly punitive welfare system which treats its beneficiaries as thieves; and deep inside the stop-and-frisk world, where standing in front of your own home has become an arrestable offense. As he narrates these incredible stories, he draws out and analyzes their common source: a perverse new standard of justice, based on a radical, disturbing new vision of civil rights. Through astonishing—and enraging—accounts of the high-stakes capers of the wealthy and nightmare stories of regular people caught in the Divide’s punishing logic, Taibbi lays bare one of the greatest challenges we face in contemporary American life: surviving a system that devours the lives of the poor, turns a blind eye to the destructive crimes of the wealthy, and implicates us all. Praise for The Divide “Ambitious . . . deeply reported, highly compelling . . . impossible to put down.”—The New York Times Book Review “These are the stories that will keep you up at night. . . . The Divide is not just a report from the new America; it is advocacy journalism at its finest.”—Los Angeles Times “Taibbi is a relentless investigative reporter. He takes readers inside not only investment banks, hedge funds and the blood sport of short-sellers, but into the lives of the needy, minorities, street drifters and illegal immigrants. . . . The Divide is an important book. Its documentation is powerful and shocking.”—The Washington Post “Captivating . . . The Divide enshrines its author’s position as one of the most important voices in contemporary American journalism.”—The Independent (UK) “Taibbi [is] perhaps the greatest reporter on Wall Street’s crimes in the modern era.”—Salon From the Hardcover edition.

The Secret History Of Wonder Woman

Author : Jill Lepore
ISBN : 9780385354059
Genre : Social Science
File Size : 21. 24 MB
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A riveting work of historical detection revealing that the origin of one of the world’s most iconic superheroes hides within it a fascinating family story—and a crucial history of twentieth-century feminism Wonder Woman, created in 1941, is the most popular female superhero of all time. Aside from Superman and Batman, no superhero has lasted as long or commanded so vast and wildly passionate a following. Like every other superhero, Wonder Woman has a secret identity. Unlike every other superhero, she has also has a secret history. Harvard historian and New Yorker staff writer Jill Lepore has uncovered an astonishing trove of documents, including the never-before-seen private papers of William Moulton Marston, Wonder Woman’s creator. Beginning in his undergraduate years at Harvard, Marston was influenced by early suffragists and feminists, starting with Emmeline Pankhurst, who was banned from speaking on campus in 1911, when Marston was a freshman. In the 1920s, Marston and his wife, Sadie Elizabeth Holloway, brought into their home Olive Byrne, the niece of Margaret Sanger, one of the most influential feminists of the twentieth century. The Marston family story is a tale of drama, intrigue, and irony. In the 1930s, Marston and Byrne wrote a regular column for Family Circle celebrating conventional family life, even as they themselves pursued lives of extraordinary nonconformity. Marston, internationally known as an expert on truth—he invented the lie detector test—lived a life of secrets, only to spill them on the pages of Wonder Woman. The Secret History of Wonder Woman is a tour de force of intellectual and cultural history. Wonder Woman, Lepore argues, is the missing link in the history of the struggle for women’s rights—a chain of events that begins with the women’s suffrage campaigns of the early 1900s and ends with the troubled place of feminism a century later.

Saving Capitalism

Author : Robert Reich
ISBN : 9781785780684
Genre : Business & Economics
File Size : 28. 51 MB
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'A very good guide to the state we’re in' Paul Krugman, New York Review of Books 'A well-written, thought-provoking book by one of America’s leading economic thinkers and progressive champions.' Huffington Post Do you recall a time when the income of a single schoolteacher or baker or salesman or mechanic was enough to buy a home, have two cars, and raise a family? Robert Reich does – in the 1950s his father sold clothes to factory workers and the family earnt enough to live comfortably. Today, this middle class is rapidly shrinking: American income inequality and wealth disparity is the greatest it’s been in eighty years. As Reich, who served in three US administrations, shows, the threat to capitalism is no longer communism or fascism but a steady undermining of the trust modern societies need for growth and stability. With an exclusive chapter for Icon’s edition, Saving Capitalism is passionate yet practical, sweeping yet exactingly argued, a revelatory indictment of the economic status quo and an empowering call to action.

Hillbilly Elegy

Author : J. D. Vance
ISBN : 9780062300560
Genre : Social Science
File Size : 33. 92 MB
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NEW YORK TIMES BESTSELLER "A riveting book."—The Wall Street Journal "Essential reading."—David Brooks, New York Times From a former marine and Yale Law School graduate, a powerful account of growing up in a poor Rust Belt town that offers a broader, probing look at the struggles of America’s white working class Hillbilly Elegy is a passionate and personal analysis of a culture in crisis—that of white working-class Americans. The decline of this group, a demographic of our country that has been slowly disintegrating over forty years, has been reported on with growing frequency and alarm, but has never before been written about as searingly from the inside. J. D. Vance tells the true story of what a social, regional, and class decline feels like when you were born with it hung around your neck. The Vance family story begins hopefully in postwar America. J. D.’s grandparents were “dirt poor and in love,” and moved north from Kentucky’s Appalachia region to Ohio in the hopes of escaping the dreadful poverty around them. They raised a middle-class family, and eventually their grandchild (the author) would graduate from Yale Law School, a conventional marker of their success in achieving generational upward mobility. But as the family saga of Hillbilly Elegy plays out, we learn that this is only the short, superficial version. Vance’s grandparents, aunt, uncle, sister, and, most of all, his mother, struggled profoundly with the demands of their new middle-class life, and were never able to fully escape the legacy of abuse, alcoholism, poverty, and trauma so characteristic of their part of America. Vance piercingly shows how he himself still carries around the demons of their chaotic family history. A deeply moving memoir with its share of humor and vividly colorful figures, Hillbilly Elegy is the story of how upward mobility really feels. And it is an urgent and troubling meditation on the loss of the American dream for a large segment of this country.

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