New Book Chronicles Effects of Wall Street's, Goldman-Sachs' Questionable Actions on Baby Boomers' Lives

Top Quote New Book - "Baby Boomer Bust? How the generation of promise became the generation of panic" - examines the after effects of the meltdown on Baby Boomers approaching retirement age. End Quote
    Quote"To paraphrase Winston Churchill, 'Never has the greed of such a priveleged few wreaked so much havoc on so many'"Quote
  • New York, NY (1888PressRelease) May 03, 2010 - "Baby Boomer Bust? How the Generation of Promise became the Generation of Panic" is a powerful illustration of the devastation that the actions of Wall Street had on the Baby Boomer generation, particularly those on the front end near retirement. According to author Roger Chiocchi, "Boomers are very upset at traditional institutions, particularly Wall Street, Mortgage Companies and Big Banks. They don't understand why the actions of a very privileged few wreaked so much havoc on so many."

    In the book, Chiocchi depicts the "perfect storm" created by government, deregulation, the Bush tax cuts, the mortgage companies and Wall Street that brought down the economy. But the heart and soul of the book, according to Chiocchi, are the profiles of eight individual Baby Boomers across the socioeconomic spectrum and how their individual lives have been affected by the meltdown. "You'll find their stories enlightening, empathic and even inspiring in some cases," Chiocchi mentioned.

    "The recent allegations against Goldman Sachs and the financial regulations being debated in the Senate brings the devastation of the meltdown and its effects on Boomers into high relief," Chiocchi added, citing the following passage from the book:

    .the actions of Goldman Sachs during the meltdown (again, not to sound redundant, they were also one of the causes of it!)-their sense of "entitlement" to excessive bonuses even when they had to stand in the "bread line" and accept federal funds, then again compounded by their total obliviousness to the plights of others (again, this time, redundancy intended-plights that they helped cause by their actions in the derivatives markets!)-brings a new level of clarity to [Economist James] Galbraith's description of an "oligarch."

    "Baby Boomer Bust? How the generation of promise became the generation of panic"-available at, and bookstores across the US -- has been receiving rave reviews from both experts in the field as well as readers since it's introduction on April 15th.

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