Broke, USA: From Pawnshops to Poverty, Inc. - How the Working Poor Became Big Business by Gary Rivlin
Broke, USA: From Pawnshops to Poverty, Inc. - How the Working Poor Became Big Business Gary Rivlin
Page: 358
ISBN: 9780061733215
Publisher: HarperCollins Publishers
"A fascinating and very important work of investigation and explanation, which I hope gets the wide attention it deserves. Everyone has heard the story of the economic crises from the top end, featuring the financiers who cut corners and lined their own pockets through arrangements that put world prosperity at risk. Very few people have heard the story from the other end, the way Gary Rivlin tells it: about the struggling families trapped by the legal but grossly unethical practices of pawnshops, payday loan brokers, storefront check-cashing operations, and similar predatory schemes. The abuse of the working poor, as Rivlin describes it, is a hugely growing industry. This is a book with the potential to stimulate outrage---and political reform."-James Fallows, the Atlantic, Author of Breaking the News" "With revealing stories, Gary Rivlin spotlights the systematic, widespread economic abuse of the poor by supposedly respectable corporations whose predatory conduct breeds misery and undoes many efforts by taxpayers to alleviate poverty."-David Cay Johnston, Pulitzer Prize-Winning Author of Free Lunch and Perfectly Legal" "Broke, USA will leave you mad as hell. How could we let this happen, businesses making fistfuls of money off the desperation of working Americans? Thanks, Gary Rivlin, for introducing us to folks like Bill Brennan, who early on saw it coming; predatory lending has destroyed communities. If only we had listened. Broke, USA is a wake-up call."-Alex Kotlowitz, Author of There are no Children here and Never a City so Real" "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 hard-working 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.
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