Once, a Protestant America recoiled from Wall Street excesses. Today, America holds up Bill Gates and Donald Trump as national heroes. Now, President Bush is pushing America to invest its retirement savings in the market. Already, half of American households own stock, compared to just 10 percent in 1960.
Tune in to hear a conversation with author Steve Fraser about the history of Wall Street's hold on American life.
Steve Fraser, author of "Labor Will Rule: Sidney Hillman and the Rise of American Labor" and co-editor of "The Rise and Fall of the New Deal Order, 1930-1980." His new book is "Every Man a Speculator: A History of Wall Street in American Life."
This program aired on February 10, 2005.