Steve Johnson's Reviews > Pity the Billionaire: The Hard-Times Swindle and the Unlikely Comeback of the Right

Pity the Billionaire by Thomas Frank
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's review
Jun 04, 2012

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The basic premise of Pity the Billionaire is that all historical evidence suggests that the economic crash of 2008-2009 should have led to a huge populist backlash against Wall Street, but for some reason, it didn't. In fact, the initial populist reaction held the criminals who had caused the crash up as heroes and laid the blame on the middle class. While Frank brings up a lot of good points and comes close to offering a solution to this insanity, he never quite hits the target, in part because he seems to want to lay the blame entirely on Wall Street and specifically on the Republican Party. He tiptoes around and at times outright ignores the fact that the problem is systemic, with both major parties playing a large role in the march toward oligarchy and corporate socialism. Worth a read, but don't expect What's The Matter With Kansas and if you're more interested in the details of the crash, go with Taibbi's Griftopia.
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