The Divide

nhboy

Ubi bene ibi patria
The Divide: American Injustice in the Age of the Wealth Gap by Matt Taibbi


"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."

[amazon]081299342X[/amazon]
 

Larry Gude

Strung Out
The Divide: American Injustice in the Age of the Wealth Gap by Matt Taibbi


"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."

[amazon]081299342X[/amazon]

So, does the author ever decide if it is money or race? Lotta folks of color, like Franklin Raines, made enormous fortunes these last 20 years. Not to mention the ascension in power of black folks.
 

tommyjo

New Member



Fraud by the rich wipes out 40 percent of the world’s wealth. No one goes to jail.



[amazon]081299342X[/amazon]


That line is patently false. "fraud" wasn't the culprit of the Great Recession. Stupidity was. Stupidity on the part of homeowners who thought they could buy any damn size house they pleased or used their house as an ATM. Stupidity on the parts of bankers for loaning money to anyone with a pulse. Stupidity of Wall Street investment houses for leveraging themselves way beyond the norms of reason and creating investment vehicles no one could understand. Stupidity on the part of AIG for insuring almost all of it. Stupidity on the part of the Fed for failing to recognize the problem as it grew. Stupidity on the part of Congress and at least 2 Presidential administrations for failing to regulate the sale of derivatives and for de-regulating markets. Stupidity is not illegal. If it was this site would have a lot fewer posters.

Of course there was some fraud, but fraud was not the culprit.
 

Monello

Smarter than the average bear
PREMO Member
That line is patently false. "fraud" wasn't the culprit of the Great Recession. Stupidity was. Stupidity on the part of homeowners who thought they could buy any damn size house they pleased or used their house as an ATM. Stupidity on the parts of bankers for loaning money to anyone with a pulse.

I believe for the first time on here that I actually agree with something you wrote. :yay:
 
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