Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money (A Penguin Group eSpecial from Penguin Books)In his acclaimed book American Theocracy, Kevin Phillips warned of the perilous interaction of debt, financial recklessness, and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now, in his most significant and timely book yet, Phillips takes the full measure of this crisis. They are a part of what he calls "bad money"- not just the depreciated dollar, but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris, the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it. |
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Bad Money: The Inexcusable Failure of American Finance: An Update to Bad ... Kevin Phillips No preview available - 2009 |
Bad Money: The Inexcusable Failure of American Finance: An Update to Bad ... Kevin Phillips No preview available - 2009 |
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Alan Greenspan American Asia Asian asset-backed asset-backed securities assets August bailout Ben Bernanke Bernanke billion Bloomberg Britain bubble Bush capitalism CDOs central bank century chairman China Clinton collateralized debt obligations credit default swaps crisis currency decades decline Democratic Dutch early economist energy euro exports Federal Reserve Board Figure financial sector financial services firms foreign global growth hedge funds home prices huge income industry inflation investment investors Iran Iraq Kevin Phillips late leaders leading world economic leverage loans major mortgage nomic November numbers Obama October oil prices OPEC panic Paulson peak oil percent political president Price Revolution private debt private equity production Republican Russia Saudi Arabia securities securitization September sovereign wealth funds speculative stock market subprime swaps tion Treasury Secretary trillion U.S. dollar U.S. economy U.S. financial United Wall Street Journal Washington White House world economic powers York