Author of Merchant of Misery
This week, the Senate passed a welfare reform measure which stands a good chance of being signed by President Clinton. While the Senate version of welfare reform is not as harsh as the House version, critics are still concerned that the so-called reform will send more women and children into poverty. A whole financial industry has developed in the U.S. that takes Advantage of the poor. We’re joined now by Michael Hudson who’s edited a collection of essays called Merchants of Misery: How Corporate American Profits from Poverty, which chronicles how major corporations are bankrolling pawn shops, check-cashing outlets and finance companies that rip poor people off.