Location: You paint a pretty grim portrait of the financial services sector and its present role in the American economy. You write about the recent economic bubbles, including the housing bubble: ‘As for the financial sector’s behavior in such circumstances, surely there must be some applicable variation of Lord Acton’s famous thesis about the greater Read More
BAD MONEY: RECKLESS FINANCE, FAILED POLITICS, AND THE GLOBAL CRISIS OF AMERICAN CAPITALISM
By Kevin Phillips
Viking, 239 pages, $25.95
Remember the good old days? No, I don’t mean the sun-drenched, suburban 1950s. Nor do I refer to the go-go giddiness of the ’90s. I’m talking about last summer—before the days of “credit crunch” Read More
Wealth and Democracy: A Political History of the American Rich , by Kevin Phillips. Broadway Books, 432 pages, $29.95.
Having sourly observed the continuing elongation of the private limousinesthat cruise Manhattan streets, a friend of mine devised a worthy response. “They ought to be taxed by the foot,” he said. The longer the limo, Read More
