Book Report: 'Maxed Out' by James Scurlock(ZT)

Book Report: "Maxed Out" by James Scurlock...	Thomas
"MaxedOut" is offered in book, audiobook, and movie/video form. I, of course,chose the audio form. Scurlock is a Wharton grad who decided to lookinto the underbelly of the credit bubble. It is not rich in stats oreven long term macroeconomic consequences. It is description of carnagebased largely on anecdotal evidence (case studies) as well asdescriptions of how the credit industry targets its prey. Thereis no one item in the book that would shock a Prudent Bear--we've beenposting stories on this topic for years. It does, however, get intoyour skull and rattle around. In a sense, it's like a documentary on9/11 from the perspective of victims'families. He also interviews theusual experts (e.g., Elizabeth Warren). I found there weretimes in which I was really getting a pretty funky feeling from thestories--many are very depressing. You also can't come away from thiswithout developing serious antipathy toward the banking industry. Hefinished with an almost verbatim phrase that had begun to formulate inmy head while I was going through the five CDs--"economic violence." Hesubmits that one must expect that economic violence will be accompaniedby physical violence at some point. From a fact-findingperspective, I had a reasonable grasp of the info going into the book;the facts were not that new. From an entertainment perspective--darkentertainment admittedly--it was very good. It may be an excellent bookto lend to friends and family who might benefit from the reality check.I should add that Robert Kiyosoki's (sp?) "The Millionaire Next Door"is a must read and an excellent companion work for a young adult whohasn't yet made the big screwups that the boomers are suffering from. Ihave become increasingly convinced that the banking industry is soilingits own nest. It will collapse (or rot from the core) and requirerebuilding.