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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Review: Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American CapitalismUser Review - Barry - Goodreads
This book is both prescient and dated. It covers the credit crisis up the end of 2007 and correctly forecast the credit problems in the fall of 2008. Kevin Phillips is also a policy wonk and his ... Read full review
Review: Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American CapitalismUser Review - David - Goodreads
Bad Money is a thorough examination of the developments in the financial industry (and developments between the financial industry and government) which laid the foundation for the 2008 financial ... Read full review