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THE CONSPIRACY TO DESTROY MICHAEL MILKEN AND THE '80S FINANCIAL REVOLUTION

A contrarian view of the much-maligned 1980s, from a University of Chicago economist who remains convinced that the US government was guilty of economic offenses far worse than any committed by the handful of putatively errant Wall Streeters it put in the dock. Drawing largely on the public record, Fischel first makes a persuasive case for the unpopular proposition that the merger mania that convulsed corporate America during the '80s was a constructive development. Among other benefits, takeovers (or the threat thereof) helped restore the world-class competitiveness of US industry (in part by making its stewards appreciably more accountable) and created vast liquid wealth for individual as well as institutional shareholders. Not too surprisingly, de facto restructuring outraged the domestic business establishment, which with winks and nods sicced federal prosecutors on upstart challengers. In particular, the Business Roundtable (a Washington- based lobbying group supported by major American corporations) was vocal in its criticism of the putatively coercive tactics employed by raiders. In the author's informed opinion, much harm and precious little good came of unleashing the Justice Department's pit bulls: Virtually all convictions obtained in court against arbitrageurs, brokers, and investment bankers were reversed on appeal. Fischel goes on to deconstruct the charges against Michael Milken, who bestrode the era's financial world like a colossus, and details how prosecutors purposefully criminalized regulatory violations or gained indictments for misdeeds, such as insider trading and stock parking, that are not defined in securities law. Also covered in credibly revisionist fashion are the factors that undermined thrift institutions, the real sins of S&L scapegoats, and Washington's culpability in the interim collapse in demand for junk bonds (which have since provided handsome returns). A convincingly documented and thought-provoking audit of the high costs of government intervention in the free markets that have built America's enviably high standard of living. ($40,000 ad/promo; author tour)

Pub Date: Aug. 3, 1995

ISBN: 0-88730-757-4

Page Count: 384

Publisher: N/A

Review Posted Online: June 24, 2010

Kirkus Reviews Issue: June 15, 1995

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Not an easy read but an essential one.

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HOW TO BE AN ANTIRACIST

Title notwithstanding, this latest from the National Book Award–winning author is no guidebook to getting woke.

In fact, the word “woke” appears nowhere within its pages. Rather, it is a combination memoir and extension of Atlantic columnist Kendi’s towering Stamped From the Beginning (2016) that leads readers through a taxonomy of racist thought to anti-racist action. Never wavering from the thesis introduced in his previous book, that “racism is a powerful collection of racist policies that lead to racial inequity and are substantiated by racist ideas,” the author posits a seemingly simple binary: “Antiracism is a powerful collection of antiracist policies that lead to racial equity and are substantiated by antiracist ideas.” The author, founding director of American University’s Antiracist Research and Policy Center, chronicles how he grew from a childhood steeped in black liberation Christianity to his doctoral studies, identifying and dispelling the layers of racist thought under which he had operated. “Internalized racism,” he writes, “is the real Black on Black Crime.” Kendi methodically examines racism through numerous lenses: power, biology, ethnicity, body, culture, and so forth, all the way to the intersectional constructs of gender racism and queer racism (the only section of the book that feels rushed). Each chapter examines one facet of racism, the authorial camera alternately zooming in on an episode from Kendi’s life that exemplifies it—e.g., as a teen, he wore light-colored contact lenses, wanting “to be Black but…not…to look Black”—and then panning to the history that informs it (the antebellum hierarchy that valued light skin over dark). The author then reframes those received ideas with inexorable logic: “Either racist policy or Black inferiority explains why White people are wealthier, healthier, and more powerful than Black people today.” If Kendi is justifiably hard on America, he’s just as hard on himself. When he began college, “anti-Black racist ideas covered my freshman eyes like my orange contacts.” This unsparing honesty helps readers, both white and people of color, navigate this difficult intellectual territory.

Not an easy read but an essential one.

Pub Date: Aug. 13, 2019

ISBN: 978-0-525-50928-8

Page Count: 320

Publisher: One World/Random House

Review Posted Online: April 28, 2019

Kirkus Reviews Issue: May 15, 2019

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A clear and candid contribution to an essential conversation.

SO YOU WANT TO TALK ABOUT RACE

Straight talk to blacks and whites about the realities of racism.

In her feisty debut book, Oluo, essayist, blogger, and editor at large at the Establishment magazine, writes from the perspective of a black, queer, middle-class, college-educated woman living in a “white supremacist country.” The daughter of a white single mother, brought up in largely white Seattle, she sees race as “one of the most defining forces” in her life. Throughout the book, Oluo responds to questions that she has often been asked, and others that she wishes were asked, about racism “in our workplace, our government, our homes, and ourselves.” “Is it really about race?” she is asked by whites who insist that class is a greater source of oppression. “Is police brutality really about race?” “What is cultural appropriation?” and “What is the model minority myth?” Her sharp, no-nonsense answers include talking points for both blacks and whites. She explains, for example, “when somebody asks you to ‘check your privilege’ they are asking you to pause and consider how the advantages you’ve had in life are contributing to your opinions and actions, and how the lack of disadvantages in certain areas is keeping you from fully understanding the struggles others are facing.” She unpacks the complicated term “intersectionality”: the idea that social justice must consider “a myriad of identities—our gender, class, race, sexuality, and so much more—that inform our experiences in life.” She asks whites to realize that when people of color talk about systemic racism, “they are opening up all of that pain and fear and anger to you” and are asking that they be heard. After devoting most of the book to talking, Oluo finishes with a chapter on action and its urgency. Action includes pressing for reform in schools, unions, and local governments; boycotting businesses that exploit people of color; contributing money to social justice organizations; and, most of all, voting for candidates who make “diversity, inclusion and racial justice a priority.”

A clear and candid contribution to an essential conversation.

Pub Date: Jan. 16, 2018

ISBN: 978-1-58005-677-9

Page Count: 256

Publisher: Seal Press

Review Posted Online: Oct. 9, 2017

Kirkus Reviews Issue: Nov. 1, 2017

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