Broke, USA: From Pawnshops to Poverty, Inc.―How the Working Poor Became Big Business - Couverture rigide

Rivlin, Gary

Couverture rigide

ISBN 10 : 0061733210 ISBN 13 : 9780061733215

Editeur : Harper Business, 2010

Synopsis

For most, the Great Crash of 2008 has meant troubling times. Not so for those in the flourishing poverty industry, for whom shrinking wages, pink slips, and other economic woes spell an opportunity to expand and grow. Over the years, any number of mercenary entrepreneurs have taken advantage of an era of deregulation to devise high priced products to sell to the credit-hungry ranks of the working poor, from the instant tax refund to the payday loan. In the process, they've created an industry larger than the casino business and proven that even the pawnbrokers and check cashers, if they dream big enough, can grow very, very rich off those with thin wallets. Looking back across three decades, Gary Rivlin uncovers how the poverty industry actually invented the predatory subprime loan in the 1980s - eventually inspiring the likes of Countrywide and Wells Fargo to repurpose these toxic products for the USA's middle class. As Rivlin's tale reveals, these large chains are not only making fat profits and contributing to our current financial crisis - they are at the heart of it. "Broke, USA" is Rivlin's riveting report from the economic fringes. From the annual meeting of the national check cashers association in Las Vegas, to a tour of the foreclosure-riddled neighbourhoods of Dayton, OH, it's a subprime Fast Food Nation featuring an unforgettable cast of characters and memorable scenes. As Wall Street and the White House struggle to save the economy from collapse, Rivlin travels across the country profiling players ranging from a former small-town Tennessee debt collector whose business offering cash advances to the country's working poor has earned him a net worth in the hundreds of millions, to legendary Wall Street dealmaker Sandy Weill, who rode a subprime loan business into control of the nation's largest bank. He parallels their stories with the tale of those committed souls fighting back against the major corporations, chain franchises, and newly hatched enterpris

A propos du livre

Revue de presse :

“[A] scathing, important book, Broke, USA... includes one shocking anecdote after another.” (—Joe Nocera, the New York Times)

“Mr. Rivlin brings to his subject a genuine gift for storytelling.” (—Wall Street Journal)

“Rivlin strives to portray the people behind Poverty Inc. in a fair light...but his sympathy and the reader’s steadily evaporate with his well-chosen tales of the industry’s coercive tactics and it’s leaders’ astonishing wealth....Rivlin is the consummate tour guide, quick with a memorable anecdote or telling statistic.” (—New York Times Book Review)

“An exhaustive exposé.” (—Washington Post)

“[Rivlin] offers a superb expose of the ‘poverty business’... A timely, important, and deeply disturbing look at the cycle of dept in the nation’s most vulnerable.” (—Publishers Weekly)

“[A] fascinating book.” (—Fortune)

“Gary Rivlin rivets readers.” (—Fast Company)

“[An] incisive, important new expose, Broke, USA...is enraging, but Rivlin’s work also is scrupulously fair.... [W]hat makes Broke, USA so readable is Rivlin’s skill at telling a complex story through engaging characters.” (—Cleveland Plain Dealer)

“This is a powerful analysis, detailing how the financial sector has come to its current state of crisis and including personal stories of some among the millions of working Americans who have been exploited along the way.” (—Booklist (starred review))

“To understand American finance, you need to understand Ace Cash Express as much as you need to understand Goldman Sachs. Which is why Gary Rivlin’s “Broke, USA” is a necessary companion.” (—Ezra Klein, Washington Post)

Quatrième de couverture :

For most people, the Great Crash of 2008 has meant troubling times. Not so for those in the flourishing poverty industry, for whom the economic woes spell an opportunity to expand and grow. These mercenary entrepreneurs have taken advantage of an era of deregulation to devise high-priced products to sell to the credit-hungry working poor, including the instant tax refund and the payday loan. In the process they've created an industry larger than the casino business and have proved that pawnbrokers and check cashers, if they dream big enough, can grow very rich off those with thin wallets.

Broke, USA is Gary Rivlin's riveting report from the economic fringes. From the annual meeting of the national check cashers association in Las Vegas to a tour of the foreclosure-riddled neighborhoods of Dayton, Ohio, here is a subprime Fast Food Nation featuring an unforgettable cast of characters and memorable scenes. Rivlin profiles players like a former small-town Tennessee debt collector whose business offering cash advances to the working poor has earned him a net worth in the hundreds of millions, and legendary Wall Street dealmaker Sandy Weill, who rode a subprime loan business into control of the nation's largest bank. Rivlin parallels their stories with the tale of those committed souls fighting back against the major corporations, chain franchises, and newly hatched enterprises that fleece the country's hardworking waitresses, warehouse workers, and mall clerks.

Timely, shocking, and powerful, Broke, USA offers a much-needed look at why our country is in a financial mess and gives a voice to the millions of ordinary Americans left devastated in the wake of the economic collapse.

À propos de cette édition

• Éditeur: Harper Business
• Date d'édition: 2010
• ISBN 10: 0061733210
• ISBN 13: 9780061733215
• Reliure: Relié
• Numéro d'édition: 1
• Nombre de pages: 368