Paul Ryan Seeks to Rewrite History on Ayn Rand

 One of the more curious political phenomenon we've seen in recent days is the furious attempt by Paul Ryan, chairman of the House Budget Committee, to rewrite history and claim that he isn't actually an Ayn Rand acolyte.

His denials are simply false, and are contradicted by statements he made at a gathering of Randians in 2005, a recording of which was released on Tuesday by the Atlas Society.

Why would be make such a ridiculous claim? I explore the reasons in a piece for Fortune.com, out today. It can be accessed here.

As I point out in my Fortune piece, Ryan is following in the footsteps of another notable Rand admirer, Alan Greenspan, whose dissembling is laid out in full in Ayn Rand Nation.

© 2012 Gary Weiss. All rights reserved.
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AYN RAND NATION: The Hidden Struggle for America's Soul, was published by St. Martin's Press on Feb. 28, 2012. Click here to order the book from Amazon.com, and here to order from Barnes & Noble.

Guardian Columnist George Montbiot on Ayn Rand Nation

George Montbiot, the noted British writer, has a column out today in The Guardian on Ayn Rand Nation, with the title "How Ayn Rand became the new right's version of Marx."

Montbiot make the following reference to one of the book's main characters, Alan Greenspan:

Despite the many years he spent at her side, despite his previous admission that it was Rand who persuaded him that "capitalism is not only efficient and practical but also moral", [Greenspan] mentioned [Rand] in his memoirs only to suggest that it was a youthful indiscretion – and this, it seems, is now the official version. Weiss presents powerful evidence that even today Greenspan remains her loyal disciple, having renounced his partial admission of failure to Congress.

In the book I call Greenspan the "Murray Hill Candidate," programmed at an early age to assassinate regulation. He was a loyal acolyte for 30 years, a subject he has sought to submerge through obfuscation and denial.

I hope that Ayn Rand Nation sets the record straight about Greenspan's role in making the nation as vulnerable as it was to out-of-control bankers and speculators.

© 2011 Gary Weiss. All rights reserved.
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AYN RAND NATION: The Hidden Struggle for America's Soul, was published by St. Martin's Press on Feb. 28, 2012. Click here to order the book from Amazon.com, and here to buy it from Barnes & Noble.

Ayn Rand Nation Excerpt at Bloomberg View

Bloomberg View published today an excerpt from Ayn Rand Nation, which can be found here.

The Bloomberg excerpt is from Chapter Nine, "The First Teabagger," in which I describe how Rand made comments in a radio interview that presaged the Tea Party, and predicted a market crash worse than 1929. She also roundly denounced budget deficits, and generally sounded as if she'd hopped off a stage at a Tea Party Rally.

There's also an article on the book at Counterpunch today by Pam Martens, a former Wall Street whistle-blower.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

Booklist on AYN RAND NATION: 'Stimulating;' 'Thought-provoking;' 'Ominous'

Booklist is out with yet another pre-publication review of Ayn Rand Nation:

"Sure to be controversial--at least in Rand circles and in certain political forums--this stimulating book seeks to establish a link between the Russian-American writer's philosophical system (objectivism) and the roughly concurrent rise of the Tea Party and the collapse of the American economy. . . ."

"Those on the far right will have none of this, of course, but others will find the book thought provoking and more than a little ominous."


© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

Publishers Weekly on Ayn Rand Nation

Publishers Weekly has a review on Ayn Rand Nation, and it's a very kind one.

A "riveting and disturbing inquiry into Ayn Rand’s widespread influence on American economics and politics," PW says.

The full review can be read here.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

Ayn Rand Nation in Kirkus

Ayn Rand Nation has gotten its first review, in Kirkus Reviews, and I have to say, I'm pretty thrilled. It's not online yet, so I've copied it below:

Weiss (Wall Street Versus America, 2006, etc.) jumps headfirst into the complex socio-cultural maelstrom that was Ayn Rand, spotlighting her allies, enemies, nemeses and acolytes.

The author has been in the trenches of financial reportage since before Black Monday 1987, examining corruption, mob involvement, takeovers, bailouts, regulatory scandals and a long list of game-changing power plays in every corner of the stock market. Here the author looks at Rand’s immense influence on a variety of sectors of American life, especially politics and economics. If you thought her renowned novels Atlas Shrugged and The Fountainhead had been analyzed under every possible microscope, think again. Intrigued by a 1974 photo depicting Rand with Alan Greenspan and President Ford in the White House, Weiss embarks on a quest to excavate the oft-shifting strata of Rand's political doctrine, Objectivism, which she deemed “a philosophy for living on earth," starting with her infamous writings. The love-hate lens through which our society continues to view her self-interested, capitalist canon is, in Weiss' dogged hands, meticulously eye-opening—yet it remains confounding to conservatives, libertarians and liberals alike. Anointing her "the godmother of the Tea Party,” Weiss argues that Rand's influence on Greenspan, Timothy Geithner, Ben Bernanke and other major players in the contemporary financial and legislative landscape is significant; she suggests that the anti-government seeds she planted may now be taking root. Weiss writes, "[s]uch is the Ayn Rand vision of paradise: an America that would resemble the lands from which our ancestors emigrated, altruism confined to ignored, fringe texts, grinding poverty and starvation coexisting alongside the opulence of the wealthy."

A scrupulous and sobering investigation, vital for our times.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

More on Ron Paul's Crackpot Campaign

My Street.com column today again explores the Ron Paul phenomenon, this time dealing with the crackpot character of both the candidate and his supporters.

After I filed the column I found some more evidence - not that any was needed - on just how off-the-wall Paul truly is.

Back in 2004 he was the only member of the House of Representatives opposing a resolution commemorating the 40th Anniversary of the passage of the Civil Rights Act of 1964.

I'm replicating his floor comments in full below:

Mr. PAUL. Mr. Speaker, I rise to explain my objection to H. Res. 676. I certainly join my colleagues in urging Americans to celebrate the progress this country has made in race relations. However, contrary to the claims of the supporters of the Civil Rights Act of 1964 and the sponsors of H. Res. 676, the Civil Rights Act of 1964 did not improve race relations or enhance freedom. Instead, the forced integration dictated by the Civil Rights Act of 1964 increased racial tensions while diminishing individual liberty.

The Civil Rights Act of 1964 gave the federal government unprecedented power over the hiring, employee relations, and customer service practices of every business in the country. The result was a massive violation of the rights of private property and contract, which are the bedrocks of free society. The federal government has no legitimate authority to infringe on the rights of private property owners to use their property as they please and to form (or not form) contracts with terms mutually agreeable to all parties. The rights of all private property owners, even those whose actions decent people find abhorrent, must be respected if we are to maintain a free society.

This expansion of federal power was based on an erroneous interpretation of the congressional power to regulate interstate commerce. The framers of the Constitution intended the interstate commerce clause to create a free trade zone among the states, not to give the federal government regulatory power over every business that has any connection with interstate commerce.

The Civil Rights act of 1964 not only violated the Constitution and reduced individual liberty; it also failed to achieve its stated goals of promoting racial harmony and a color-blind society. Federal bureaucrats and judge's cannot read minds to see if actions are motivated by racism. Therefore, the only way the federal government could ensure an employer was not violating the Civil Rights Act of 1964 was to ensure that the racial composition of a business's workforce matched the racial composition of a bureaucrat or judges defined body of potential employees. Thus, bureaucrats began forcing employers to hire by racial quota. Racial quotas have not contributed to racial harmony or advanced the goal of a color-blind society. Instead, these quotas encouraged racial balkanization, and fostered racial strife.

Of course, America has made great strides in race relations over the past forty years. However, this progress is due to changes in public attitudes and private efforts. Relations between the races have improved despite, not because of, the 1964 Civil Rights Act.

In conclusion, Mr. Speaker, while I join in sponsors of H. Res. 676 in promoting racial harmony and individual liberty, the fact is the Civil Rights Act of 1964 did not accomplish these goals. Instead, this law unconstitutionally expanded federal power, thus reducing liberty. Furthermore, by prompting race-based quotas, this law undermined efforts to achieve a color-blind society and increased racial strife. Therefore, I must oppose H. Res. 676.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

My Take on Fracking and Ron Paul

I am definitely in red-line-crossing mode this week, as I generated two columns appearing today on the most divisive subjects in the land, Ron Paul and hydrofracking.

My Street.com column deals with fracking, which I view as a well-poisoning monstrosity, and I have an essay in Salon dissecting Ron Paul, whom I view as a fraudulent populist. Both columns are generating numerous comments and, in the case of Paul, fiery emails!

But I'm pleased to say that the Salon column has generated, so far, over a thousand Facebook recommendations, indicating that the vast majority of readers tend to like the piece. So far, 630 comments, including many from peeved Paul-ites. Golly!

Not to worry. If you hate (or love) Paul there will be more to hate (or love) from me in the future, as I am becoming a regular contributor to that estimable online periodical. Ditto for fracking, a subject that I think will be fodder for future columns. So stay tuned.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

The Tangled History of Occupy Wall Street 's Nemesis

Wall Street heroes are anti-naked shorting conspiracy theorists

There's an intriguing item in Business Insider today about two "heroes of Wall Street": John and Derek Tabacco, who counter-demonstrated against Occupy Wall Street last week, holding up green posters that read "Get A Job" and "Occupy A Desk!"

"They then declared their movement the 'Wall Street Freedom Fighters.'", Business Insider pointed out. Their two-man counter-demonstration was first reported by Business Insider and Salon.

The Tabacco brothers operate something called LocateStock.com. They are also leading "naked short selling" conspiracy theorists, who have been quoted all over the media, including by the estimable (and, on naked shorting, distressingly gullible) Matt Taibbi on the subject of this ferocious but largely imaginary menace to the financial markets.

What Taibbi didn't point out, in quoting Tabacco expounding on the subject, is that John Tabacco worked for the investor ripoff shop called First Hanover, as Salon has pointed out. He was barred from the securities industry for his activities there. Salon has previously reported the brothers' strange history in other areas. Kind of impacts on Tabacco's credibility, wouldn't you say?

John Tabacco's scuzzy background is not surprising. Naked shorting conspiracy theories were originally promoted by penny stock brokers, before being spread to the world at large by the ancestral bank roll of their friend and benefactor, Overstock.com CEO Patrick Byrne.

Byrne, an outspoken right-wing activist, foul-mouthed misogynist and campaign financier, has tried to link his nutty conspiracy theories to Occupy Wall Street, even though he is the living embodiment of everything OWS is fighting--and his conspiracy theories exonerate Wall Street banks for collapsing the market in 2008. Byrne has promoted his theories in tandem with the Tabaccos, promoting Locatestock.com on Overstock's website and on CNBC. In a bizarre incident in 2006, Byrne actually held up a sign naming LocateStock.com and a conspiracy-theory website during a CNBC appearance (above).

In addition to First Hanover, John Tabacco also was employed by Russo Securities and DH Blair, both notorious penny-stock emporiums. After his expulsion from the securities industry, Tabacco tooled around in various jobs before deciding to become an anti-nekked-shorting conspiracy theorist. At one point he was business partners with the worst SEC chairman in the history of the universe, Bush-appointed clown Harvey Pitt.

I've got to give the Tabaccos credit. At least they haven't tried to present themselves as friends of OWS, but rather as what they and the naked shorting conspiracists really are: shills for Wall Street, trying and failing to divert the public's attention from real issues and real problems.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.

The GOP Grapples With Ayn Rand's Atheism

Not Ayn Rand's cup of tea

My latest post in the FrumForum describes how Ayn Rand's atheism is infecting the far right, the Tea Party movement and, through Ron Paul especially, Republican politics in general.

It's kind of a sneak preview of one of the themes that I explore in AYN RAND NATION: The Hidden Struggle for America's Soul, which will be published by St. Martin's Press on Feb. 28.

Given how fashionable Rand is in the GOP nowadays, her atheism is going to raise some thorny issues for the Republican Party. She repudiated not just belief in God but cherished Judeo-Christian moral tenets, including the desirability of altruism and help for the needy. Rand's Objectivism celebrates selfishness and promotes the belief that the poor need to rise up without relying on help from anyone.

Rand's celebration of individuality certainly has its place, but her influence on national politics is corrosive -- if, that is, you believe that government plays an important role in society.

Read more about it on the FrumForum, and feel free to plunge into the lively discussion taking place there.

© 2011 Gary Weiss. All rights reserved.
------------------------------
AYN RAND NATION: The Hidden Struggle for America's Soul, will be published by St. Martin's Press on Feb. 28, 2012. Click here to pre-order the book from Amazon.com, and here to pre-order from Barnes & Noble.