Bad Money: The Global Crisis of American Capitalism

Kevin Phillips, writer, political commentator

Subprime lending. The housing bubble. A falling dollar. Imploding credit. Just how bad is the American financial situation? Author Kevin Phillips argues that "bad money has driven out good," in his most provocative book yet, Bad Money: Reckless Finance, Failed Politics and the Global Crisis of American Capitalism. Analyzing the domestic upheavals and the global dangers resulting from the rising influence of Wall Street over the past twenty years, Phillips demonstrates how every aspect of American life has been put at risk by the "bad money" that has come to dominate the US Gross Domestic Product. How can the nation extricate itself from its current dilemmas? Where is the political will to solve our economic problems? How painful will the coming "correction" be for individual citizens and for a nation that finds itself dependent on, rather than driving, the global economy?

Kevin Phillips, a former Republican strategist, has been a political and economic commentator for more than three decades. He is currently a regular contributor to the Los Angeles Times and National Public Radio and also writes for Harper's Magazine and Time. He has written thirteen books, including The New York Time's bestsellers American Theocracy and American Dynasty.

Tuesday, April 15, 2008