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Posts Tagged ‘Simon Johnson’

Moyers: Six Banks Control 60% of Gross National Product — Is the U.S. at the Mercy of an Unstoppable Oligarchy?

Moyers and economists James Kwak and Simon Johnson wonder whether the financial powers are more profitable, and more resistant to regulation than ever.
April 23, 2010 |

The following is a transcript taken from Bill Moyers’ recent interview with Simon Johnson and James Kwak on Bill Moyers Journal.

So even if the Tea Party folks saw the light, what can ordinary Americans do?

That’s the question I want to put to my guests, Simon Johnson and James Kwak. They have written this new book, 13 Bankers: The Wall St. Takeover and the Next Financial Meltdown. It’s a must read – already a best seller — and it couldn’t have come at a better time. This book could change the debate over financial reform by tipping it in favor of the public.

Simon Johnson is a former chief economist at the International Monetary Fund. He now teaches at MIT’s Sloan School of Management and is a Senior Fellow at the Peterson Institute for International Economics.

James Kwak is studying law at Yale Law School – a career he decided to pursue after working as a management consultant at McKinsey & Company and co-founding the successful software company, Guidewire. Together James Kwak and Simon Johnson run the indispensable economic website BaselineScenario.com

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Arianna Huffington  | HuffPost | April 7, 2010 07:42 PM

The cliché tells us that you can’t judge a book by its cover. Agreed. But sometimes you can tell a lot about a book by the blurbs on its cover (and just inside the cover).

Such is the case with Simon Johnson and James Kwak’s 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, this month’s HuffPost Book Club pick. You know a book is onto something when, even in these politically polarized times, and dealing with a hot button issue like financial reform, it features side-by-side praise from both Jim Bunning and Alan Grayson. Yes, that Jim Bunning, who says that the book “makes it clear why ending ‘too big to fail’ and reforming the institutions that perpetuate it… are essential for our nation’s future economic prosperity and, more fundamentally, our democratic system.” Clearly, the need to reform our out-of-control financial system is not a right vs. left issue. (Full disclosure: I also did a blurb for the book).

The book is also incredibly timely, with the Senate gearing up for a floor debate on Sen. Dodd’s financial reform bill when it returns from Easter break. While offering an in-depth explanation of the factors that led to the financial crisis — a crisis Johnson and Kwak prove beyond any doubt is not over — 13 Bankers has the immediacy and of-the-moment feel of a blog post, the sense that this is happening now.

Original Article

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