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Book Cover for: While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis, Roger Lowenstein

While America Aged: How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis

Roger Lowenstein

The retirement crisis facing America-and the road map for a way out-from The New York Times bestselling author of Origins of the Crash

In the last several decades, corporations and local governments made ruinous pension and healthcare promises to American workers. With these now coming due, they threaten to destroy twenty-first- century America's hopes for a comfortable retirement. With his trademark narrative panache, bestselling author Roger Lowenstein analyzes three fascinating case studies-General Motors, the New York City subway system, and the city of San Diego-each an object lesson and a compelling historical saga that illuminates how the pension crisis developed. Cumulative retirement deficits are approaching $1 trillion, and Lowenstein warns that these are only the first. Retirement pensions will continue to be a critical issue as the country ages, and While America Aged is the urgent call to action and prescription for reform.

Book Details

  • Publisher: Penguin Publishing Group
  • Publish Date: Apr 28th, 2009
  • Pages: 288
  • Language: English
  • Edition: undefined - undefined
  • Dimensions: 8.30in - 5.58in - 0.64in - 0.53lb
  • EAN: 9780143115380
  • Recommended age: 18-UP
  • Categories: Personal Finance - Retirement PlanningFinance - GeneralEconomic History

About the Author

Roger Lowenstein, author of the bestselling Buffett: The Making of an American Capitalist and When Genius Failed: The Rise and Fall of Long-term Capital Management, reported for the Wall Street Journal for more than a decade and wrote the Journal's stock market column "Heard on the Street" and also its "Intrinsic Value" column. He now contributes articles and reviews to the Journal and the New York Times Magazine and is a columnist for SmartMoney Magazine. He lives in Westfield, New Jersey.

More books by Roger Lowenstein

Book Cover for: Buffett: The Making of an American Capitalist, Roger Lowenstein
Book Cover for: Ways and Means: Lincoln and His Cabinet and the Financing of the Civil War, Roger Lowenstein
Book Cover for: When Genius Failed: The Rise and Fall of Long-Term Capital Management, Roger Lowenstein
Book Cover for: America's Bank: The Epic Struggle to Create the Federal Reserve, Roger Lowenstein
Book Cover for: Origins of the Crash: The Great Bubble and Its Undoing, Roger Lowenstein
Book Cover for: The End of Wall Street, Roger Lowenstein

Praise for this book

" Financial journalist Roger Lowenstein uses the stories of three deeply encumbered institutions . . . as examples not only of the way most individual Americans conduct their personal finances, but also of how the country as a whole has long lived beyond its means. . . . Gripping."
-Phillip Longman, The Washington Post