†The Squandering of America is an extraordinarily compelling argument for increased financial regulation and managed capitalism and is highly recommended for public, government, and academic libraries.

Kuttner (Everything for Sale, 1997) – former Chief Investigator of the US Senate Committee on Banking, Housing & Urban Affairs adroitly synthesizes the political processes and dynamics of managed and unmanaged capitalism leading to the current state of finance and regulatory oversight/undersight. Kuttner explores a vast array of factors from the proliferation of hedge funds, offshore banking and risky commercial lending to the pressure to relocate jobs overseas and the massive accumulation of US debt to foreign accounts. He contends that corruption of democratic processes has enabled an ‘elite’ class to cash in without adding anything of measurable value to the economy – while the real standard of living for the general public has plummeted. Although the evidence leads to a bleak and disturbing financial picture, Kuttner shows how reversal of numerous policies and adoption of a system more closely resembling the European economic model could help return us to a more equitably distributed economy. ( )

Attracted by the title, I wonder if Kuttner will be criticizing the Obama administration to the same extent as he has the Bush administration; likewise, I am curious to see if he is chary of supporting Rubin, et. al., since he views their previous policies as so problematic up to this point.

Not at all. Kuttner is an unapologetic apologist for all things Obama.