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Without question the current Administration represents change. Millions of Americans, however, are asking if this is the change they were waiting for. Steven Malanga argues we are facing a momentous transformation of the fundamental structure of American politics. A self-interested coalition of public-sector unions and government-financed community activists has become our era's characteristic political machine.
In Shakedown, Malanga shows how this machine's single-minded goal is always bigger government and more public spending. He chronicles how public-sector unions and the corrupt political hacks beholden to them have all but bankrupted once-rich states like California and New Jersey. He details the campaigns to undermine the successful and popular 1990s welfare reform and to revitalize the failed, wasteful War on Poverty programs that funnel taxpayer money to the advocacy groups that are integral cogs in the new political machine. And, he provides a comprehensive summary of how these same advocacy groups spent decades helping undermine mortgage standards in the name of helping the poor – in the process enriching themselves and enabling the housing meltdown.
Steven Malanga is City Journal Senior Editor, a Manhattan Institute Senior Fellow, and a RealClearMarkets.com columnist. Prior to joining City Journal, he was Executive Editor of Crain's New York Business for seven years. Before that, Malanga served for seven years as Managing Editor of Crain's.
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John Edward Hilboldt
Director, Lectures & Seminars