About book The Divide: American Injustice In The Age Of The Wealth Gap (2014)
Very good read. The Author describes in acute detail the differences between committing fraud on Wall Street and being poor and trying to get help from the Welfare system. The difference soon becomes apparent where Banks pay millions in fines with no one going to jail and the poor can end up there at the slightest hint of wrongdoing. Mr. Taibbi provides a compelling look at a Society in trouble and in need of profound change. A sign of a good book is one where you think about it long after it has been read. The topic of this book is the "divide" been the application of the law between the rich and the poor. Examples of corporate crime, primarily in the banking industry, show that the U.S. has moved away from prosecuting individuals for corporate crime. Instead, fines are levied against the corporation, although the amount is a fraction of the gain from the crimes. The main basis for this policy appears to be the collateral consequences of a corporate failure. Given that corporate crime is systemically ignored, there would seem to be no deterrent to increasing corporate crime.Examples of police treatment of the poor, show that basic human rights are no longer respected. Police now carry out dragnets to capture any slightly suspicious people, then look for a basis for charges. Stop and frisk has a similar objective. Both methods often involve mal-treatment and degradation. People living in poor neighborhoods, especially black, tend to be caught in these searches repetitively.The book is shocking on both fronts.The book content is largely a series of examples or stories from both sides of the divide. The examples tend to be drawn out, making the book long.On the other hand, little is provided in the way of an overview. The book starts with a story and ends with a story. There is no introduction, and there is no conclusion. Much interesting material was missed.All examples on the rich side of the divide were in the realm of corporate banking. What is happening with individual crime among the rich and upper middle class? Is the leniency towards the rich, or more towards corporations?One example shows how this trend makes it very difficult for the poor to improve themselves. Regular police harassment, jail-time and fines make it hard to hold a job. One wonders whether a converse process occurs on the other side of the divide, causing low income people to fall into the poor and/or criminal classes.The book is centered on the U.S. It would be interesting to know to what extent these processes are occurring in other countries, especially Canada, Britain and Europe.
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Maddening, even though much of the Wall Street financial jargon is over my head.
—sekhmet
