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State of Things
Tue January 10, 2012
Pity the Billionaire
Best selling writer Thomas Frank has a new book out that talks about how conservative politicians rewrote the script for the economic collapse of 2008 and turned it to their advantage. In “Pity the Billionaire: The Hard-Times Swindle and the Unlikely Comeback of the Right” (Metropolitan Books/2012), Frank takes us through the great recession that began at the end of President George W. Bush’s second term as president. Frank says the recession was the result of failed faith in the free market, and that by all rights, the public should have turned against Wall Street and looked to government for better regulation. Instead, Republicans hijacked the conversation and shifted the blame for the economy onto government.