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This title in other formats:Other People's Money: The Corporate Mugging of Americaby Nomi Prins
Synopses & ReviewsPublisher Comments:- Between 1998 and 2001, 1,000 top corporate executives cashed out $66 billion. In 2001 alone, public pension and 401(k) plans lost $200 billion. - During California's electricity crises in 2000 and 2002, the public lost over $45 billion, while corporate energy companies paid only $450 million in fines. - Since 2001, the average value of a CEO severance package has been $3 million, while the average worker's severance pay following the bankruptcy of their company was less than $5,000. - Between 2000 and 2001, the average CEO compensation of Fortune 500 companies was $37.5 million, while the average worker salary of all companies was $38,000. Book News Annotation:Until she quit in 2002, Prins (a senior fellow with the public policy
center Demos) saw the sinister nexus of banking, large corporations,
and politics from the inside as an upper-level manager at Goldman
Sachs and other large finance firms. In this work she draws on that
experience to expose the systemic corruption governing these
relationships. Her main concern throughout the work is how years of
banking deregulation pushed through Congress by pliant politicians
have allowed such corruption to flourish, even if a few malefactors
occasionally wind up serving jail sentences.
Annotation ©2004 Book News, Inc., Portland, OR (booknews.com) Synopsis:Prins brings an insider's eye to the boom economy, uncovering the old-boy networks and hot-money flows between Wall Street, Corporate America, and Capitol Hill, and exposing the whitewash reforms brought in to control them. What Our Readers Are SayingBe the first to add a comment for a chance to win!Product Details
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