Corruption and Greed is Endemic

If you could sum up Predator Nation in three words, what would they be?

Wall St.: A criminally run casino.

What was one of the most memorable moments of Predator Nation?

Ferguson's summation at the end of the book is spot on. A two party duopoly beholden to the oligarchy that now runs our country, Obama fits into the system quite well and his campaign in 2008 was one of the greatest bait and switch jobs of recent history.

If you could give Predator Nation a new subtitle, what would it be?

The Gilded Age of the 21st Century.

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3 people found this helpful

Overstated perhaps, but valid in the main

Larry Summers and Glenn Hubbard are hardly typical academics. The vast majority of professors, including deans and journal editors, are not beholden to corporations as board members, grant recipients or paid speakers. It is not as hard to speak the truth in academic research and writings as the author implies. So, while the influence of money in academia is a concern, I don’t think it is as widespread and entrenched as claimed in this book.

Since I don’t have the same level of experience with the financial industry I have with academia, I cannot say whether the treatment of this sector is similarly overstated. But I suspect not because the magnitude of the money and the evidence of rent extraction is so much larger at the top of the finance sector. Because of this, I felt the core message of the book rang true, even though I winced at some of the overreach. As such, I found it to be a thought provoking and interesting listen.

Kudos to the narrator for a first rate job.

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The Best Book on the Financial Collapse

I have read many of the recently published books on the financial crises over the past few years in an effort to better understand what happened. This book is by far the best that I have read to date. It details not only what happened and how the crises was created but also who was behind it and how they benefited. The most interesting chapters discuss the many laws that were broken by the large financial institutions and complete absence of prosecution by any law enforcement agency in the US.

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23 people found this helpful

A book both Romney and Obama should read.

Where does Predator Nation rank among all the audiobooks you’ve listened to so far?

Not an easy book to like but a book worth understanding

Who was your favorite character and why?

The author - He did the work Government has failed to do.

Which character – as performed by Rob Shapiro – was your favorite?

NA

Was this a book you wanted to listen to all in one sitting?

NO - it is not a guilty pleasure book.

Any additional comments?

Excellent work by Charles Ferguson. He seems to have done the nation and perhaps the world a service. If only the people, bureaucrats, media and politicians will take head and work to punish the truly guilty and reform the system then we can have hope once again.

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6 people found this helpful

Excellent read

Would you recommend this audiobook to a friend? If so, why?

Everyone should consider carefully the information put forth in this book. It was hard at times to stop and realize what has happened in our country. Quite a wake up call when you have kids and you know how much this all matters. Forget the terrorists in far off lands we have met the enemy and he is doing very well indeed. If we don't figure out a way to limit the power of money in our society, democracy is toast.

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4 people found this helpful

Amazing book with incredible insight

What was the most compelling aspect of this narrative?

Wealth of information and facts

Any additional comments?

A must read for everyone, even those who don't know much about finance.

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4 people found this helpful

Incredible story of greed and corruption.

An incredible look at some of the real causes behind America's decline and growing devide.

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A mandatory read for all Americans

If there is a book that should be a mandatory read for all Americans this one is it. Non-partisan look at who really runs America.

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J'accuse!!!

Even if you have read every previous book about the financial crisis, you should (actually, it is your patriotic duty to) read this one and then tell your friends to. Ferguson, a fellow at the Council on Foreign Relations and the producer of the Academy-Award-winning movie "Inside Job" has massive credibility, an even-handed, deadly serious temperament, and an overwhelmingly convincing argument. It is very simple. For the last thirty years, in the lead up to the 2008 financial crisis, America's financial industry has become systematically criminal. Not just greedy, not just unethical. Criminal.

Ferguson marshals overwhelming evidence of repeated criminal violations by the banks and others. Fraud, insider trading, money laundering, bribery, perjury, assisting drug gangs and other criminals, tax evasion, on and on. Day in and day out. A basic business model. He provides evidence that the same violations committed twenty years ago or by people outside of banking have produced serious criminal charges and convictions (remember Michael Milken and Martha Stuart?). Yet even after the financial collapse that has wrecked millions of lives and is now toppling Western democracies, there have been zero criminal prosecutions of major bankers, ratings agencies, hedge fund managers, or other financial players. None. At most the banks have paid trifling fines, admitted nothing, and then repeated the same crimes over and over.

Why? Because they pay off both political parties and because they now belong to a corrupt, entrenched American oligarchy similar to those in Russia or Mexico. They are quite literally too big to prosecute. The banks have succeeded in gutting the regulatory agencies, intimidating opponents, and buying political influence. As in Zola's famous book, "J'accuse," Ferguson does not so much raise new evidence as simply state the obvious. He provides an excellent overview of the financial industry since 1980 and the 2008 crisis. But his main contribution is to simply point out that all this was, in fact, criminal. And nothing has been done. The same large-scale criminality simply continues, the same crimes committed, the same apologies, the same fines, the same promises, then back to business. As long as the actors themselves are not convicted and can retire wealthy in good social standing, nothing will change.

Ferguson goes so far as to name names and provide the government with the evidence and the laws violated. He hands it to the Justice Department on a silver platter, as have many others. Yet nothing happens. Being more of a leftist, I would go further than Ferguson and say that, under a fiat money system, the banks have effectively privatized tax collection. By a complex, yet blatant three-step process, our tax money that should be going to social security, for example, is going to a tiny, wealthy, criminal elite and their inside "shareholders." Ferguson argues for mass criminal prosecutions of the sort that happens outside of banking. I would also argue for nationalization of major banking functions. Either we nationalize banks or the banks continue to privatize national fiscal policy. In any case, this book is lucid, illuminating, important. No "vampire squids" or screechy moralizing. Just a serious civic polemic. And by the way, the reading is also excellent.

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28 people found this helpful

A lot to chew on

Lots of good food for thought but light on objectivity. The author has a clear bias, but probably deservedly so.

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