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Jock Mcclees

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Jock Mcclees is currently reading

American Oligarchs: The Kushners, the Trumps, and the Marriage of Money and Power

by Andrea Bernstein

bookshelves: currently-reading, american-history, current-politics, world-history

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Jock Mcclees said: " Early on there is a section about the Kushners being from a small town in Poland which then became part of Russia, then was overrun by the Germans, then the Russians again. All in the period before during and after WW2. Half the family was slaughtere Early on there is a section about the Kushners being from a small town in Poland which then became part of Russia, then was overrun by the Germans, then the Russians again. All in the period before during and after WW2. Half the family was slaughtered along with most of the people in the town. They managed at the end of the war or just after to escape and get to a refugee camp in Italy where they were stuck for several years. They had no papers, nothing. Eventually a Jewish aid group managed to get them to the US. The Kushners had been in the upper crust of the village and had gone to university. During the war, the poorer people fared better. They knew how to survive. The people with desk jobs less so. Class distinctions went out the window since no one had anything anymore. One of the sisters, (Rae?), ended up marrying a poor boy from a nearby shtetl who normally wouldn't have had a chance with her. She had her first child in the camp in Italy. That boy (anglicized name Joseph?) took the Kushner name. He was a carpenter and he worked in NY/NJ until he could go on his own. They were the grandparents of Jared. He ultimately built thousands of homes in NJ and became quite wealthy.

The book then goes into something interesting. Just like people point out that Elon Musk didn't make it on his own, he has had $38 billion in contracts and subsidies from the US government. After WW2, the US government had several programs to promote building houses since there was a big housing shortage. Also, it talks about how the FHA changed things. It was set up in 1934 under FDR. Before, banks would only lend 50% on house purchases and there was usually a balloon payment at the end which often ended in foreclosure. Between the FHA loans and VA loans, many more middle class people were able to buy houses and start building wealth. It had a big impact on expanding the middle class. But, it also was a racist policy because they wouldn't lend in black or mixed race communities because of "risk". So minorities didn't get the same helping hand that whites did. ...more "

Feb 27, 2025 10:11AM · see review