 A lot of information even if it comes late |
| Review Date: April 2, 2010 |
| Reviewer: sanoe.net, |
I pushed back my review on Jane White's America, Welcome to the Poorhouse because I wasn't really sure how to review it.
On the one hand, I wish I had read a book like this about two years ago. As preventive measure, it has a lot of information. Of course, one could find this information on their own via the Internet.
That's kind of the problem. The information in the book might be dated in a few years. It is kind of dated now since the problem has already crested for most people. In other words, it is a book describing a problem that has come to pass. Not how to avoid the problem. Everyone can get information on how to avoid the problem now.
Still, it did have good information. Even for people who already find themselves in trouble will find some info that is of help. |
An eye opening read that really hit home.
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| Review Date: April 1, 2010 |
| Reviewer: Read Rover, FL |
I can't think of anyone I know that hasn't been adversely affected by the current economic climate. I know dozens of real estate investors who lost their life's work as they watched the value of their investment properties tank. I know families - young and mature alike - who have struggled to keep their homes or pay for the higher education of their children after losing the equity in their homes that had been earmarked for that purpose. I have witnessed foreclosures and bankruptcies. These are all good poeple who work hard to provide for their families - not robber barons looking to make a quick buck! It's a heart breaking world out there and it can be very difficult to understand how we all got to this place.
America: Welcome to the Poorhouse can be a difficult read if you have witnessed first hand some of the economic tragedies that have resulted from the current crisis. You are likely to become angry as you learn just how things "went down" - how did we get here and where are we going? This book will help anyone who s committed to rebuilding or protecting their financial portfolio. This is a wake-up call that the things we all did even just 5 years ago to plan for our retirements have changed and we need to go back to the basic fundamentals. While the author does take the opportunity to get up on her soapbox to talk about economic reform, the arguments and theory here make interesting reading even if one looks elsewhere for further insight.
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A terrific practical Primer for personal finances
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| Review Date: March 18, 2010 |
| Reviewer: John A. Lefcourte, Reno, NV USA |
This book is a must for every 16 year old to read, if hoping to go on to college, if not then for every 18 year old. The author covers (1) how one needs to invest in order to save enough money to retire: Start by age 25 investing 10% of your salary in a 401(k) or an IRA account, preferably Roth IRA, invest in broad Index funds and stay invested through highs and lows. If one waits until one is 35 one will have to save 18%, 40: 23% and 50: 48%.(2) What to look for in a house and how to finance it: No ARMs or interest only mortgages. (3) How to make a college education more affordable. What to look for in a college and college financing. (4) What to know about and how to use credit cards.
Is any of the information provided novel? From what I know, only her spelling out exactly what percent of income one needs to save. However, she has consolidated all the information and boiled it down to make it available in one place and very readable. By the way, my summaries are just that: summaries. There is more detailed information to be found in the book.
Of less interest to me are her long-term solutions to which she devotes a significant part of each chapter. While I do not disagree with any of them I do believe that it is naive to think that writing our Congresspeople to support these ideas will get their support. This can only work if big money, i.e.,special interests, don't oppose the proposed legislation. Hardly likely.
I have four college age children and step-children and I will be giving each a copy of this book. I wish that I had read something comparable when I was their age. |
You've Heard This Before, America
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| Review Date: March 15, 2010 |
| Reviewer: Sacramento Book Review, Sacramento, CA |
As someone whose student loan debt makes up a good 80% of what she owes, I was eager to get my hands on //America: Welcome to the Poorhouse//. Especially since my review copy was free. Gotta start saving now; I've only got 40 years until retirement, after all.
And while the book has a lot of good information, I was disappointed to realize that none of it is exactly new. About the only update to the familiar script is the rant against big banks. Otherwise, guess what, America? You charge too much, spend too often, and don't save what you should. And even though I have a 401(k) and a couple of savings accounts, I put down the book feeling like no matter what I did, my financial future was out of my hands. In other words: don't expect this book to make you feel empowered. The most you'll want to do is stuff all of your money in a mattress and go live off the grid in a forest somewhere. After all, grizzly bears don't care if you have bad credit.
Reviewed by Amanda Mitchell |
Be Prepared to Get Mad!
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| Review Date: March 5, 2010 |
| Reviewer: Robert L. Stinnett, Boonville, MO |
When I first got this book I have to admit it was the picture and title on the cover that caught my original attention. I put it aside for about a month and the other day I had a flight with a small layover down to Houston, TX so I took this book along. The moment I started reading the introduction I got hooked -- and by the time I got to Houston about 3 hours later I had read all 190+ pages. Let me just say this -- by the time you get 5 pages in you will be angry; by the time you get all the way through the book you'll be mad as h-e-double hockey sticks!
The author tells us the way things are and how we got here -- and let me tell you it isn't a pretty picture. She doesn't hold any punches back. This isn't an anti-Republican book, nor is it anti-Democrat. She puts the blame where it belongs. She traces the corruption of our political system that helped create the groundwork that let a lot of the financial mess happen in the first place. If you ever thought for one minute Senators care about your interests -- you got another think coming.
This is the kind of book that I'd recommend as a gift for friends and family who are concerned not only about their immediate financial situations, but also their long-term financial futures. It's such an engaging read that no matter who you give this book to (unless they are a lobbyist) they are going to enjoy reading it cover to cover and hopefully learn a few things they can do to turn around their own situation, slowly but surely and get on better footing for the long-haul.
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Poorhouse --- yes indeed
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| Review Date: February 26, 2010 |
| Reviewer: Alyssa A. Lappen, Earth |
I ordered this book thinking I would get something at least including a lengthy discussion regarding the enormous and unsustainable rate of government spending.
Ha. The joke was on me.
Concerning the use of adjustable-rate mortgages, for example, the book condemns these instruments lock, stock and barrel, with nary a word on their potential usefulness in a declining-rate economy.
Nor does it offer a single word on the fact that government agencies themselves --- the Federal National Mortgage Association (aka Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) --- were amongst the biggest drivers of adjustable rate mortgages. "Freddie Mac Adjustable-Rate Mortgage (ARM) product is ideal if you wish to take advantage of lower short-term rates with prepayment flexibility," crows the website of the latter. Remember, this is a government agency that underwrites mortgages.
But White mentions neither of these agencies, nor does she include entries for them in her index --- spelled out, or by acronym. As other wrote, shame.
Lots of personal advice always applies in finance. But do not get it here.
For that, rely on one or more genuine financial journalists, such as my former colleagues Jeff Blyskal and Janet Bamford, or Lynn Brenner or Mary Rowland --- not an ideologue like White.
-- Alyssa A. Lappen |
Interesting points - but beware of bias
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| Review Date: February 19, 2010 |
| Reviewer: Amy, Washington |
Jane White takes on America's financial system in "America, Welcome to the Poorhouse". She has a number of good, salient points, but readers should be aware that she has a specific fix in mind and lobbies pretty heavily for her suggested reforms. White is clearly a liberal, so conservatives are likely to actively dislike her book and strategies.
The good: White tackles everything from the housing situation, bank bailouts, credit card problems, student loans, Americans dismal retirement savings, and schools. While many Americans may shy away from thinking about the financial mess, this book is not written in a judgemental tone. It's easy to read, makes historical and referential points, and can help to be a roadmap out of the quagmire we've discovered. She gives a target amount to have in the bank for retirement and points out that it's a larger sum than what many of us might expect. I know I learned a *lot*, from this book, especially about Sally Mae (student loan company). The book also encourages civic engagement and interaction with our elected leaders and provides some simple steps for individuals to take to help with the problem.
The bad: America is not currently in a place to enact many of these reforms. For example, in talking about the thinness of our collective 401(k)s, White advocates that instead of the fortunate few receiving an up-to-3%-employer match, that we gradually increase the required amount to be 9%, similar to Australia's system. Could companies sustain this? Many people in America believe not. However, when companies can afford to pay out multi-million-dollar bonuses each year, one could argue differently. It's an interesting situation to watch: I see the middle class tearing each other apart. Government workers are seen to have "cadillac" health plans and/or retirement, and instead of people banding together to advocate for EVERYONE to have that coverage, the overwhelming attitude seems to be "I don't have that, so neither should you." Some of the advice (make your voice heard; kick out the electeds who aren't representing you) may be difficult to enact. Money, lobbyists, and name recognition can be difficult to overcome. I'm not entirely sure I believe White's explanation of the housing market boom (decreased housing subsidies made people feel the need to buy).
Overall, I think the book provides some interesting discussion points and is worth a read.
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Not on-target or even mostly on-target
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| Review Date: February 5, 2010 |
| Reviewer: Kurt A. Johnson, North-Central Illinois, USA |
America, Welcome to the Poorhouse - never in my lifetime has this been more truly said, and things still seem to be getting worse! Well, in this book, 401(k) advocate Jane White, looks at what the United States should do to provide for the future of retirees, as all Americans will eventually be.
For the most part, I did not find this book very helpful. Now that we are farther along in the slow-motion train crash that U.S. economy has become, some things are more visible. Legislating that employers contribute more to their employees' retirement plans sounds nice, but in an era when unemployment is still increasing, it is probably not a good idea. Some of her advice is good, but her overall big-government slant sounds increasingly out-of-touch with current economic realities.
For the most part, I thought that this was an OK book, but I must say that I did not think that the author was on-target...or even mostly on-target. Times have changed, and I do not think that Ms. White's advice is good for these times. I must say that I do not recommend this book. |
Solid Background Information
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| Review Date: February 5, 2010 |
| Reviewer: Scott Fisher, |
Jane White does us a favor by letting us know why most of us in the middle class are feeling so squeezed. Things have gotten worse financially in so many areas.
Her main thesis is that there are 5 main reasons most people in the US feel so out of control. 1) We haven't saved for retirement and our companies aren't taking care of it for us like they did in previous generations. 2) Housing costs have risen much more than wages (and inflation) over the past 40 years and banks are happy to dupe unwitting loan recipients. 3) College is more unaffordable than ever in a time where it is more required than ever before. 4) Many are drowning in credit card debt. 5) Big business controls most of the political process (both parties) instead of citizens.
Though nothing in the book is earth-shattering news for anyone who has been paying any attention, the book will probably shake people who read it out of complacency.
She gives simple rules of thumb about how much to save for retirement and other issues. Though the rules are simple, they at least give people a good starting point--which is useful when many people are not doing enough to save money for retirement and other expenses. Some reviewers seem to have taken issue with the simplicity, but I think they've missed the point that she's telling people at least a minimum of what they should be doing if they don't want to run into problems since most people are not even doing this much.
If you've read specialized books in any of these areas (such as finance) you probably know a bit more than is presented in this book, but the good part about the book is that it stays fairly simple and doesn't assume the readers know a lot already.
Some of the political solutions may be areas in which people take issue, but at least she proposes some ideas about how to fix things. The solutions are often based on programs carried out by other countries that have been more successful than the non-solutions in the US. Even if you disagree with some things she says, at least she makes you think about ways to fix things and might prompt you to do something useful instead of just hoping someone else will fix things for you (either politically or personally).
It is not the most exciting and entertaining book in the world, but it's a useful primer to help manage the areas in which most middle class people are feeling a lot of pain. |
Decent advice, questionable policies
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| Review Date: January 23, 2010 |
| Reviewer: David G. Schwartz, Las Vegas, Nevada |
I'm leery of anyone who tells you what bad shape you're in, then says that they and only they can help you get out of the fix you're in. It's a modus operandi that snake oil salesmen honed to perfection years ago, probably because it works. Still, I approached this book with an open mind, despite the subtitle ("What you must do to protect your financial future").
Then on pages 16 and 17, White says that it's essential that 401 (k) participants be able to buy software that tells them to "contribute the maximum, don't time the market, and stick with index funds," helpfully disclosing to readers that she's "interested in developing this software." Suddenly, it seems that while the advice might be good, it's at least a tad self-serving.
Indeed, the first part of the book is all about 401 (k) plans. White believes that it's unjust that people aren't forced to contribute more money to their 401 (k) plans, and makes no bones about the fact that ordinary people shouldn't be allowed to "shoot themselves in the foot" by managing their own retirement portfolio. There are two numbers that she returns to, time and again, without explaining why they are important. Throughout the book, White insists that Americans must have ten times their "final" salary saved in their 401 (k) by the time they retire, without explaining why nine times is too little and eleven times is too much. Second, she proposes that the federal government mandate that all employers with more than 9 employees be forced to contribute 9 percent of their salary to a 401 (k) plan. Again, why 9 (for both criteria) and not 8 or 10?
White's thesis-that it would be good policy to legislate adding an additional nine percent to labor costs overnight-seems to fly in the face of what we known about the economy. She doesn't consider that employers might lay off employees or cut salaries to compensate. It's like she thinks employers are just going to pull this extra nine percent in compensation out of the same hammerspace that she pulled the nine employees/nine percent number. I kept waiting for her to explain it in more detail, but she didn't.
Besides the dodgy macro-economics, much of the book is partisan finger-pointing that doesn't advance the debate on retirement security or help people planning for their retirement. At this stage, most Americans probably don't care whether Bill Clinton or George Bush did more to contribute to the mess we're in: they just want honest solutions to get out of it. More disturbing is White's contempt for the rich, who she believes should have to pay proportionally more taxes, again without thinking that this might lead people to become less productive, which surely is to the detriment of everyone.
The book closes with some standard populist invective against "greedy and needy politicians," with demands that Congress become "closer to Main Street than to K Street" (the Washington street on which many lobbyists have offices). It's not particularly original. As political agitprop, it's serviceable for those of both parties who want to "throw the bums out," but it doesn't help Americans trying to plan for their retirement.
In between all of this fluff, there is some helpful, but unspectacular, advice to Americans: spend less, save more, and stay out of debt. Of course, if everyone buys less the retail and ultimately manufacturing sectors will tank, so it's probably best that not everyone takes her advice. The personal finance stuff in general is simple common sense, and nothing that would justify a $23 book purchase. So maybe readers should take her advice and economize-in this case you should take the money you would have spent on this book and save it for your retirement. |
an eye opening view on the economic state of America
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| Review Date: January 22, 2010 |
| Reviewer: kre8iv1, Flemington, NJ |
I received this from the Amazon Vine program.
This book was an eye-opener for me. I've always gone thru my life by balancing my checkbook after the end of each month, and if I had anything left I was thrilled.
Yikes.
This book shows our current economic state (ANGST!!) and what we need to do, as individuals, to fix it.
Here is the list of chapters:
1 - Why you can't retire from a 401(k) plan
2 - How to save wisely until we get 401(k) reform
3 - The mortgage mess
4 - How laws protect banks, not borrowers
5 - The fix: refinance to a fixed-rate mortgage
6 - Why we need more college graduates to compete with China and India
7 - How Sallie Mae lobbied congress & "Enticed" colleges to offer its loans
8 - The fix: grants, gov't loans & colleges that are free
9 - How credit card debt, home equity loans get you over your head in debt
10 - How to get out of credit card debtor's prison
11 - How big business owns both political parties
12 - The fix: replacing corrupt politicians with ones who work for taxpayers
Conclusion
I've NEVER been interested in finances. I've done the bare bones minimum.
This book has intrigued me to investigate my situation further to "fix" things now.
I highly recommend it. |
Accurate Description, Dreadful Prescription: A Liberal Looks at Retirement
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| Review Date: January 20, 2010 |
| Reviewer: Fritz R. Ward, Crestline, CA United States |
People who concern themselves with personal finance are often considered "conservative" if only because both conservatives and personal finance specialists recognize the effects taxation and inflation have on individual savings. As a generalization, of course, this perception is not entirely accurate. Jim Cramer, host of Mad Money, for example, is a Democrat. This new book by Jane White, 'America, Welcome to the Poorhouse' should also go a long way towards dispelling the myth that only conservatives are concerned about personal finance. White points to a number of disturbing trends that have weakened personal savings and made retirement a difficult proposition for people. But if this book dispels some myths about those who write about retirement planning, it reinforces others, namely that liberals simply cannot come up with any ideas that do not involve government programs and their understanding of macroeconomics is myopic at best.
White is correct in her diagnosis of what ails Americans today. First, they have too little in the way of retirement savings. 401(k) and and IRA accounts are for the most part underfunded, and many people do not fund these options at all, thereby foregoing what little matching funds American companies offer. Worse yet, even those who save properly and invest well do not know how to properly allocate their retirement savings. Some people mistakenly believe that they can spend their large accounts on big ticket items to celebrate retirement when in fact they underestimate just how much they will need. White suggests that potential retirees should aim for a savings of 10 times their final income in order to retire, and this is a minimum figure. (I think her estimate is irresponsible. She assumes that you draw down your account by 7% each year. A safer figure is 5%, but this requires that you have at least 14 times your final salary.)
Besides the fact that Americans do not save or invest enough, they have other problems. Homes cost too much, even after the recent (2008-2009) pull back in housing prices. And, of course, Americans have far too much in credit card debt. They seem oblivious to the cost of compound interest and the effect of making minimum payments. They do not understand how Adjustable Rate Mortgages can effectively double payments when interest rate environments change. In short, Americans spend too much and save too little.
All this is well and good until one reads White's analysis as to why these trends are costing Americans. It seems that government is simply not regulating enough. If nothing else, this prognosis is a refreshing change from reading all the analysts (Ben Stein comes to mind here, but one could easily name dozens of others) who see the problem in, shall we say, a somewhat different light. But refreshing as it is, White's analysis is simply wrong for the most part, and nowhere more so than when she discusses why housing prices have risen so quickly. It is all, it seems, due to these loan predators who took advantage of innocent buyers by forcing them into homes they cannot afford. The roots of the problem, she writes, go all the way back to when Ronald Reagan dramatically cut the budget for subsidized housing, thereby forcing renters to become buyers. At this point, anyone who has any understanding of economics at all should be rolling their eyes at this amazingly naive view of the housing market. Leaving aside the discussion of whether subsidized housing is ultimately a useful government expenditure, the fact of the matter is that at no point did it ever make up even 1/10th of 1% of the total housing market in the United States. To claim that a cut of a fraction of this fraction led to a boom in housing prices is so absurd as to not bear further consideration, except to note that this is hardly the only instance of the "post hoc, ergo propter hoc" fallacy in this little book.
The fact of the matter is that the government itself, in both Republican and Democratic administrations, actively pursued a policy of promoting "home ownership" and did so by manipulating two government created "corporations" into buying loans from banks regardless of the credit worthiness of the loans. This is a tremendous value for banks (and loan brokers) because it means they can make a loan and receive their money up front, effectively eliminating their risk. When the risk is eliminated, the banks have no incentive not to offer risky loans, and indeed are rewarded for doing so ... that was after all the purpose of the policy. Indeed, when a few Republicans complained about the absurd loans that were being marketed to individual investors by Fannie Mae and Freddie Mac, it was liberal Democrats who urged that these corporations not be subject to federal 'regulation.' Meanwhile, individual investors were led to believe (correctly, as it turned out) that the government would back these loans. So far from a "predatory" loan industry forcing consumers to take bad loans, the reality was government policy encouraged these loans. Naturally, White's solution, namely that ARMs should be outlawed is absurd. What "should" happen is that Fannie Mae and Freddie Mac should be dissolved and banks should lend their own money. But don't count on this. In lieu of a reasonable political solution the best that can be said is that Americans should ignore their government and start saving for what they want. If that means a home, then at the very least they should save until they have 10% or more down. If home prices are going up too fast due to stupid government policies coupled with a hefty dose of the inflation White does not think exists (p. 201) then the best consumers can do is to wait for a correction, not just jump in with whatever outrageous loan the government is encouraging. Pending real reform, when the crash comes, bankers will get bailed out, but you will not.
White's assessment of the other problems are also problematic, but not quite as ridiculous. She suggests government adopt an "anti-debt" campaign similar to the anti-smoking campaign of the 1980s. The only problem with this suggestion is that, let's face it, the government is just not a very credible spokesperson for fiscal responsibility. Other voices are, but White does not give them any time in this book. I would suggest readers look to the philosophy of such companies as Primerica or writers like Dave Ramsey. Although radically different in their approach, each (and many others) offers an anti debt message that is at once credible and practical. Similarly, White would like to mandate a larger match for employers and to require this match in 401(k) accounts regardless of whether or not an employee contributes. She points to Australia as an example of where this policy has worked well. On this point, I tend to agree with her. Australia has done well by making employers contribute to accounts similar to a 401(k) and encouraging employees to do the same. But she neglects to point out that Australia does this in lieu of a Social Security system like ours, not in addition to it. Of course, Australia does have a variety of means tested monetary supports for the poor, but nothing comparable to our "social security" system. The idea that everyone should contribute to a government pension and then get some benefit is simply foreign there. Instead, the government requires everyone to effectively contribute to a private plan, and low and behold, Australians are, as White notes, a lot better off than Americans. So when White recommends that her readers lobby Congress for something like the Australian model, readers should keep in mind that she is being somewhat disingenuous about what the "model" is. What Australia offers is an alternative to our social security system, not a supplement to it and like almost all alternatives to our system, it is immensely profitable for those who use it.
In the final analysis, White has identified many disturbing trends in personal finance. Americans do have too much debt and too little in the way of assets. In this, they resemble their government. But her analysis is at best superficial and at worst, deceptive or simply outright wrong. It is also irrelevant. For the most part, Americans cannot significantly influence government policy, but they can change their own lives. White's best advice is found in her short chapters on what to do while waiting for change. My advice, forget waiting for change, and take charge of your own life. This book can help, but only if you ignore the political diatribe that takes up the bulk of its pages. |
After reading this book, you will be looking at your retirement differently
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| Review Date: January 19, 2010 |
| Reviewer: Stephanie Manley, Houston, TX |
When you finish reading this book, you will be running the numbers to see if your retirement savings is enough. Enough to live on, not just survive. Jane White does an excellent job of explaining what can be viewed as complex financial matters into something that is more readable, and makes more sense than anything I have seen in a long time. Our financial industry and mass media does a poor job in educating people properly. In a time when we have seen our retirement accounts dwindle, housing prices become unaffordable, and where real wages have not had significant gains in the last 20 years, this book is welcome information.
Why has the financial industry moved to where they used to tell us to have 10 times our last year of employment income to be how much we needed to save. Is that our goal anymore? No. Many of our current savings results to 2/3 of that figure. Social security is giving us less each year, so why is less more? It isn't. Less is simply less. She encourages us to save at least 9 percent of our current income and put this into retirement savings. She extends her view into credit cards, how banks lend money, and how banks are in business for banks.
A large drawback of her book may be her suggestions and ideas for reform. When it comes to retirement savings, she suggests that we adopt the model of Australia where the employeer puts 9% into a plan for the employee. She advocates at times radical reform for the banking and mortgage lending industries. While I may not agree with each one of her points whole-heartedly, I love the way she delivers a needed message in a frills free voice. I would encourage people to read this book, and give thought to their current financial situation and what they can do to place themselves in a better position. |
A lot of interesting information, though a biased-sounding presentation
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| Review Date: January 17, 2010 |
| Reviewer: Scott Dawson, |
There was a lot of good information in this book. It focuses on the problems with retirement planning, mortgage, college loan and credit card industries, and a congress that is accountable only to lobbyists. Unfortunately, while the information is very good, the book is written with an anti-industry tone that makes it sound extreme. I feel that this tone will probably put people off that would benefit from reading the book and getting the information.
I would recommend the book with the above caveat. |
Thorough, Readable, Thought-Provoking Look at the Economic Realities
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| Review Date: January 16, 2010 |
| Reviewer: Julie S.C.Y,, |
This is an important and informative book. It covers four important (and difficult) economic realities of life in 2010 America, from college and retirement costs, to mortgage and credit card debt. So it is especially important for the legion of Baby Boomers (born 1946) who will begin retiring in 2011 and for the new generation of consumers, who'll have to make difficult economic choices in the world the Boomers have left them.
I don't understand the reviewers who've criticized "America: Welcome to the Poorhouse" for being "scattershot". Personally, I can't imagine how it could have been better organized or more focused than it is. And the thesis is clear, too: American lives and financial choices are linked to an American economy that creates and perpetuates great financial stress.
Jane White divides the book into four financial themes: retirement; mortgages; college expenses; and credit card debt. In each section, she takes a clear-eyed and specific look at what the problem is, why it continues, and what should be done about it--both by the consumer and through specific legislative reforms.
Essentially her legislative recommendations are: regulate/eliminate lobbyists...require greater employer contributions to employee 401Ks...get rid of adjustable rate mortgages...and reduce your credit card debt and reliance on home equity loans.
I appreciated the clarity of this book and the numerous examples and facts that were used to support the recommendations for change--both change in consumer behavior and legislative change. There's a tone of honest and blunt "financial advice that you need" whether she is recommending when to sell (or not sell) your stock, or where to move if you need an affordable house in an appealing, but different, part of the country (the 10 cities listed--from Portland to Raleigh--are each accompanied by a list that gives you a two-page overview of the best attributes of each).
The book is current, too, and references many of the reforms and ideas of President Obama, whom she believes is on the right track in many of these areas, but is ham-strung without real legislation from Congress.
I liked the book and think anyone reading it would come away better informed (and with an idea of how to improve their -own- financial situation). Definitely recommended.
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