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The Bullies of Wall Street: This Is How Greed Messed Up Our Economy
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About The Bullies Of Wall Street: This Is How Greed
Product Description Can knowing how a financial crisis happened keep it from happening again? Sheila Bair, the former chairman of the FDIC, explains how the Great Recession impacted families on a personal level in this easy-to-understand book “that puts a human face on the economic crisis” (School Library Journal). In 2008, America went through a terrible financial crisis, and we are still suffering the consequences. Families lost their homes and struggled to pay for food and medicine. Businesses didn’t have money to buy equipment or hire and pay workers. Millions of people lost their jobs and their life savings. More than 100,000 businesses went bankrupt. As the former head of the Federal Deposit Insurance Corporation, Sheila Bair worked to protect families during the crisis and keep their bank deposits safe. In The Bullies of Wall Street, she describes the many ways in which a broken system led families into financial trouble, and also explains the decisions being made at the time by the most powerful people in the country—from CEOs of multinational banks, to heads of government regulatory committees—that led to the recession. About the Author Sheila Bair is the former Chairman of the FDIC (Federal Deposit Insurance Corporation). She has been covered—and lauded—everywhere from The New Yorker to The Washington Post to The Wall Street Journal, and in 2008 and 2009 Forbes named her the second-most powerful woman in the world. Prior to assuming her post at the FDIC, Bair served as assistant secretary for financial institutions at the US Department of the Treasury and as senior vice president for government relations of the New York Stock Exchange. Excerpt. © Reprinted by permission. All rights reserved. The Bullies of Wall Street CHAPTER 1 MATT Matt felt puffs of warm, wet air hitting his cheek. He opened his eyes and saw the source: a large, shiny black nose just a few inches from his face. Two wide-set brown eyes stared at him intently. Attila had probably been awake for hours, patiently waiting for Matt to get up. Matt lobbed his arm over the old German shepherd’s neck and scratched him behind the ears. Matt’s mom usually didn’t let Attila sleep with him. But she had given in to Matt’s pleas the night before, realizing that it would be the last he would share with his dog. Matt had never known a day without Attila. His parents had adopted him from a dog shelter twelve years ago, just a few months before Matt was born. He was a big puppy, with huge paws, which was why Matt’s dad, a history teacher, decided to name him after Attila the Hun, the ferocious fifth-century warrior who had conquered much of Europe. Attila eventually grew into his paws, weighing over a hundred pounds, big for a German shepherd. His size was now a problem, as Matt’s parents couldn’t find a place for them to live that would take a dog of his size. The family was moving soon, and all of the apartments they had looked at either prohibited pets or allowed only small ones. Matt didn’t want to get up. He wanted to lie there forever with his dog, thinking back over all of the good years they had spent together. Attila used to be the fastest and smartest dog of any in his neighborhood, making Matt the envy of every kid on his block. His friends would come to his house and beg for the privilege of throwing sticks for Attila to fetch and watching him perform tricks. The usual “sit,” “beg,” and “roll over” commands were nothing for Attila. He could climb the ladder of Matt’s backyard playground set and slide down the slide. He could jump through a hoola hoop and catch Frisbees six feet in the air. He could play tug-of-war with four kids on the other side of the rope, and still win. He didn’t just shake. He high-fived. But that was when Attila was younger. Attila walked slowly now, suffering from arthritis in his hips, which Dad said was common in shepherds. His hearing was almost gone too, so he could no longer always hear Matt’s commands. Matt
