New Book Counters Angelides' Upcoming Financial Crisis Inquiry Commission Report, Details Government's Central Role in the Great Recession

Jan 18, 2011, 14:46 ET from Thomas Nelson

WASHINGTON, Jan. 18, 2011 /PRNewswire/ -- Recent polls show that 85% of Americans are angry about the current state of the economy.  But – who should they be angry WITH? The federal government's soon-to-be released and sure-to-be oversold Financial Crisis Inquiry Commission Report will tell them it's Wall Street.  

Former Investor's Business Daily's Washington Bureau Chief Paul Sperry's exhaustively researched new book - The Great American Bank Robbery: The Unauthorized Report About What Really Caused the Great Recessionwill provide, in breathtaking detail (including over 50 pages of footnotes, tables, graphs and charts), the other side of the story.  The one that, according to Sperry and countless market economists, the government isn't telling – that Washington, not Wall St., is where America's attention should turn for accountability.

In the book, Sperry:

  • Reveals how Washington is framing Wall Street for the subprime crime that Washington itself committed – a crime that has robbed the avg. American household of over $120,000.
  • Discredits the Pelosi-appointed Financial Crisis Inquiry Commission and most notably Phil Angelides, one of the "fair-lending" zealots responsible for the crisis and the man LEADING the investigation
  • Investigates the prime suspects, most of whom Angelides never called to testify
  • Zeroes in on the politicians and policy makers who recklessly plunged Fannie Mae and Freddie Mac into the subprime securities market
  • Takes President Bush to task for his misguided policies aimed at boosting Hispanic homeownership – which led to an explosion in subprime lending among immigrant borrowers with unproven or damaged credit – including illegal aliens
  • Identifies those members of the Clinton administration that have taken almost the exact same banking and housing policy positions inside the Obama administration
  • Reveals the way in which Obama and his associates, in the name of "economic justice" are plundering banks all over again – setting the economy up for another, possibly even more catastrophic, crisis
  • Uncovers new details about the way the federal government systematically dismantled time-tested underwriting standards
  • Profiles the 10 Most Wanted bank robbers and how these radical anti-capitalists are redistributing your money
  • Introduces the self-proclaimed bank "terrorists" – the community organizers and street agitators who have shaken down banks for over $6 trillion in risky loans – a sum greater than the entire GDP of Japan
  • Provides over 50 pages of footnotes, charts, timelines and graphs laying out in breathtaking detail where the subprime bubble formed and why

About the author

Paul Sperry is former Washington bureau chief for Investor's Business Daily. A media fellow at Stanford University's Hoover Institution, he is the bestselling author of three previous books, including the highly acclaimed Infiltration: How Muslim Spies and Subversives Have Penetrated Washington, which is being used by top law enforcement agencies across the country, as well as the U.S. Department of Defense and CIA.  In addition to IBD, Sperry's work has been featured in the New York Times, Wall Street Journal, New York Post, Houston Chronicle, The American Spectator and Reason, among other publications. He has broken a number of major news stories that have been cited and credited by the Washington Post, USA Today, ABC News, UPI, the Associated Press, and CNBC. Sperry has appeared on Fox News, CNN, C-SPAN, and the NBC Nightly News.

*Producers note:

The expected date of the release of the Angelides Report - akin to the 9/11 Report in scope of marketing and editorial news coverage - is Monday, January 24.

For more information:

Stephanie Marshall


SOURCE Thomas Nelson