| Document Type
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BL
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| Record Number
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1040695
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| Doc. No
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b795065
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| Main Entry
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Canterbery, E. Ray.
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| Title & Author
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Wall Street capitalism : : the theory of the bondholding class /\ E. Ray Canterbery.
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| Publication Statement
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Singapore ;River Edge, NJ :: World Scientific,, ©2000.
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| Page. NO
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xi, 327 pages :: illustrations ;; 22 cm
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| ISBN
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9789810238506
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: 9789810238513
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: 9810238509
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: 9810238517
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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The bond market : a new American icon. Goldilocks and the good news bears ; The widows of Chevy Chase Country Club ; The sacred college of bonds and money -- Wall Street facilitates the takeover by the bondholders. Money and Wall Street's bonding : a love story ; A Wall Street-Federal Reserve experiment creates a monster ; The rise of the bondholding class ; The final assault on the Clinton White House -- The bad news for ordinary people. Surfing today's volatile bond market ; Risks become palpable as bonds are traded for chips ; The bondholding class and Alan Greenspan downsize America ; The bondholders' non-charitable contribution to inequality -- Problems with the bond market strategy. The angels' share of personal savings ; Bond prices and the casino effect -- What to do : some immodest proposals. Lifting the impenetrable veil of money ; Interest and principal without bondage ; Epilogue: the final insult.
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| Abstract
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"This book goes behind the headlines of the Wall Street Journal to unmask the 'bondholding class'." "Insulated from criticism by a self-serving ideology, the bondholders have redefined the indicators of economic well-being decidedly in Wall Street's favor. Created out of the fiscal folly of Reaganomics, fortified by Federal Reserve officials, and patronized by the Clinton Administration, the bondholding class invented the 'Goldilocks economy' (never too hot, never too cold). As this powerful class has amassed the greatest wealth in history, ordinary Americans have been losing ground to the ensuing global financial turbulence. Ray Canterbery shows how the evaporation of personal savings - 'the Angels share' - is as necessary to Wall Street capitalism as it is damaging to growth and wages on Main Street."--Jacket.
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| Subject
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Board of Governors of the Federal Reserve System (U.S.)
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Board of Governors of the Federal Reserve System (U.S.)
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Federal Reserve system (États-Unis)
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| Subject
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Bond market-- United States.
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Monetary policy-- United States.
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Bond market.
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Economic policy.
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Monetary policy.
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Obligations (finances)-- États-Unis.
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| Subject
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Politique monétaire-- États-Unis.
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| Subject
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United States, Economic policy, 1981-1993.
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United States, Economic policy, 1993-2001.
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| Subject
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États-Unis, Politique économique, 1981-1993.
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États-Unis, Politique économique, 1993-2001.
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| Subject
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United States.
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| Dewey Classification
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332.110973
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| LC Classification
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HC106.82.C36 2000
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| NLM classification
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F837.124clc
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