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Wall Street Capitalism: The Theory of the Bondholding Class [Hardcover]

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Item description for Wall Street Capitalism: The Theory of the Bondholding Class by E. Ray Canterbery...

This book goes behind the headlines of the Wall Street Journal to unmask the "bondholding class". Insulated from criticism by a self-serving ideology, the bondholders have redefined the indicators of economic well-being decidedly in Wall Street's favor. Created out of the fiscal folly of Reaganomics, fortified by Federal Reserve officials, and patronized by the Clinton Administration, the bondholding class invented the "Goldilocks economy" (never too hot, never too cold). As this powerful class has amassed the greatest wealth in history, ordinary Americans have been losing ground to the ensuing global financial turbulence. In a tour de force, Ray Canterbery shows how the evaporation of personal savings - "the Angels share" - is as necessary to Wall Street capitalism as it is damaging to growth and wages on Main Street.

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Item Specifications...

Studio: World Scientific Publishing Company
Pages   340
Est. Packaging Dimensions:   Length: 1" Width: 6.25" Height: 9"
Weight:   1.45 lbs.
Binding  Hardcover
Publisher   World Scientific Publishing Company
ISBN  9810238509  
ISBN13  9789810238506  

Availability  0 units.

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Product Categories

1Books > Subjects > Business & Investing > Economics > Comparative
2Books > Subjects > Business & Investing > Economics > General
3Books > Subjects > Business & Investing > Finance
4Books > Subjects > Business & Investing > General
5Books > Subjects > Business & Investing > Industries & Professions > Accounting > General
6Books > Subjects > Business & Investing > Industries & Professions > Accounting
7Books > Subjects > Business & Investing > Investing > Bonds
8Books > Subjects > Professional & Technical > Accounting & Finance > Accounting > General
9Books > Subjects > Professional & Technical > Accounting & Finance > Accounting
10Books > Subjects > Professional & Technical > Accounting & Finance > Finance > General
11Books > Subjects > Professional & Technical > Accounting & Finance > Finance

Reviews - What do customers think about Wall Street Capitalism: The Theory of the Bondholding Class?

Dubyah's new clothes  May 10, 2001
This excellent, accessible, and extremely well documented integration of the economics, administrative infrastructure and politics of the economy is a must read. Canterbery clearly deflates current politically correct talking point that Dubyah's skewed tax cut is in any meaningful way related to "capital formation". With only 5% of the transactions in the stock and bond market attributable to the "primary" capital raising markets (i.e. IPOs and new treasury debt) the churning of the remaining 95% of the secondary market is the "overhead" that's necessary to achieve "efficient" pricing for capital. That's like a shop owner who has to sustain $95 in operating overhead to keep his store open in order to make $5 in sales.

Witty, insightfully integrative and deadly accurate, this is a must read.

Deconstructing the Myth of the "Millionaire Next Door"  Sep 19, 2000
The past decade of financial euphoria has slowly built in the public's mind the myth of the "millionaire next door," and the belief that democratic redistribution, through capital markets accessible to all, existed. This book, owing to a thorough analysis of the US capital markets, definitely draws an accurate and realistic picture of who the real "winners" are. The answer is explosive and the statements fully backed up with data. If you want to have a better understanding of how the Fed, the government, and the markets have been creating this "dream come true," this book is definitely a must read.
Making Capitalism Work  Jul 6, 2000
This book explains why the health of the stock market is not equivalent to the health of the economy. The Wall Street bull has transferred enoumous amounts of wealth from the bottom 95% to the top 5% of the population. The result is an economy that is producing goods and services at a rate that is well below its capacity to produce, reducing the standard of living of all but those few who are winning the speculative Wall Street lottery. The book is written in an engaging style with plenty of data to back up the claims. A very important book for a very crucial time in the economic history of the US.
On the right track...  May 22, 2000
If you want to try to understand what's going on in the financial markets, especially the role played by the Fed, then this is the book to read. Extremely stimulating, with interesting statistics to firm up the author's arguments.

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