preview

Analysis: Twilight Of The Elites

Good Essays
“America feels broken,” says Christopher Hayes in his book Twilight of the Elites (Hayes 1). Many Americans would agree to this statement, but are not 100% sure why America is this way. There are many aspects that could contribute to this problem, but a major concern, that many have, is the amount of power the elites of our country hold. Many Americans feel as if the only voices that are heard, in an institution, are those that are at the top. An article presented by Deadspin called “No One Wants Publicly- Financed Stadiums- Except The People Who Count” by Jack Moore plays on this very topic. He discusses how the elites run their businesses. Moore gave many examples where elites may have taken their power to a whole new level. Before reading this article I was oblivious to the elite power, but now I am aware of how the system is in fact broken.
He starts off discussing the decision to build The Milwaukee Bucks a new arena. Milwaukee Bucks have regularly been in the NBA’s lower percentage of game attendance, even with media coverage. The game is telecasted in about 5,000 homes around Wisconsin, and the owners, Wes
…show more content…
Countrywide is a company that was known as one of the largest mortgage lenders in the country. The only way Countrywide could stay competitive, as the housing bubble grew, was to create an offer that the borrowers could not turn down. The offer allowed the borrowers choose how much they wanted to pay each month for their loan. Eventually, that was not enough to keep them competitive, and the firm had to create another option. Soon they were giving loans with no money down. The company eventually was not making most of their money from these loans and started to sink and Mozilo knew it. Over a five-year period, 2001 to 2006, he managed to arrange for himself to make $470 million compensation by looting the company he
Get Access