William Greider, a prominent political journalist and author, has been a reporter for more than 35 years for newspapers, magazines and television. Over the past two decades, he has persistently challenged mainstream thinking on economics.
For 17 years Greider was the National Affairs Editor at Rolling Stone magazine, where his investigation of the defense establishment began. He is a former assistant managing editor at the Washington Post, where he worked for fifteen years as a national correspondent, editor and columnist. While at the Post, he broke the story of how David Stockman, Ronald Reagan’s budget director, grew disillusioned with supply-side economics and the budget deficits that policy caused, which still burden the American economy.
He is the author of the national bestsellers One World, Ready or Not, Secrets of the Temple and Who Will Tell The People. In the award-winning Secrets of the Temple, he offered a critique of the Federal Reserve system. Greider has also served as a correspondent for six Frontline documentaries on PBS, including “Return to Beirut,” which won an Emmy in 1985.
Greider’s most recent book is The Soul of Capitalism: Opening Paths to A Moral Economy. In it, he untangles the systemic mysteries of American capitalism, details its destructive collisions with society and demonstrates how people can achieve decisive influence to reform the system’s structure and operating values.
Raised in Wyoming, Ohio, a suburb of Cincinnati, he graduated from Princeton University in 1958. He currently lives in Washington, DC.
The 2008 election has many unusual aspects, but none is more bizarrethan the sorry spectacle of the bailout for Fannie Mae and Freddie Mac.
American voters are like the lambs being led to slaughter and at thevery height of the presidential campaign. Yet not a peep of protest fromJohn McCain and Barack Obama, not even a hint of the righteous angerinjured taxpayers will rightly feel as they figure out the deal forthemselves. The rescue of the two giant mortgage firms is another hugeexpenditure of the public's money--one or two hundred billion dollarsthis time--to reassure bankers and financiers the government stands bythem in their troubles, whatever the costs.
Think about it. Candidates Obama and McCain are wagging theirfingers at the governing system in Washington, both warning they intendto make big changes if elected. Meanwhile, business-as-usual doesn'twait for the next president. The financial system needs the capitalright now, and so Treasury Secretary Henry Paulson has opened up the spigot. Obama and McCain meekly bless the deal. This sequence of events makes themlook look the political goats, their grand talk of change pushedaside by what Wall Street demands. The 2008 election may be close, butit looks like the status quo has already won.
The news was so stunning I refused to believe it until I saw John McCainon the TV screen announcing his pick for Vice President. There's no needto disparage Sarah Palin. She's seems like a smart, serious person. Butwhat the choice reveals about McCain is devastating with a capital D forDesperation.
Within forty-eight hours, all America will be talking about her. What people willsay is, "You mean, if John McCain croaks, she becomes our president?"Gasp, yes. That is what McCain has decided. So much for "experience" andwise judgment as a campaign issue.
The Senator was widely thought to be on the fifty-yard line, nose to nosewith Barack Obama. But this selection reveals the Republican campaignstrategists knew better. Picking the obscure and under-experiencedgovernor from Alaska for veep means McCain and his people recognize theyare in a very weak position for the fall campaign. So weak they decidedto throw a forty-year Hail Mary pass and hope audaciously for a luckycatch.