90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
Are the Banks Running America?
Bank of America Chief Executive Officer Kenneth Lewis, right, leads the way as chief executives leave the White House in Washington, Friday, March 27, 2009, after a meeting between chief executives and President Barack Obama. From left are: Wells Fargo Chief Executive Officer John Stumpf; Morgan Stanley Chief Executive John Mack; US Bank Chief Executive Officer Richard Davis; and Lewis.(AP Photo/Ron Edmonds)

Chief executives of major U.S. banks leave the White House on Friday, March 27, 2009, after a meeting with President Barack Obama. From left: Wells Fargo CEO John Stumpf; Morgan Stanley CEO John Mack; US Bank CEO Richard Davis; and Bank of America CEO Kenneth Lewis. (AP)

Simon Johnson is raising hell over our response to the economic crisis so far. The former chief economist at the IMF says it’s been half-measures and soft steps and hasn’t gone nearly far enough to break up failed banks and knock back the Wall Street lords of finance.

The reason, he says, is that a financial elite has quietly taken over this country and its assumptions — sewn up power, he charges, as surely as in any banana republic — and barred the way to real change.

These are hot words from a top scholar and economist.

This hour, On Point: Simon Johnson on where we stand now in the economic crisis, and why.

You can join the conversation. Does Johnson’s analysis sound over-the-top to you? Just right? Are we taking the right steps to reset the American economy? Does the U.S. really deserve the label “banana republic”?

Guest:

Joining us from Washington is Simon Johnson, professor at MIT’s Sloan School of Management. Former chief economist at the International Monetary Fund, he’s now a senior fellow at the Peterson Institute for International Economics. His new article in The Atlantic, “The Quiet Coup,” argues that “the finance industry has effectively captured our government — a state of affairs that more typically describes emerging markets.” He co-founded the widely read blog The Baseline Scenario, where you can read his latest commentary.

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Sep 19, 2014
No campaigners celebrate as results come in at the Scottish independence referendum count at the Royal Highland Centre in Edinburgh,Scotland,Friday, Sept. 19, 2014. Scottish voters have rejected independence and decided that Scotland will remain part of the United Kingdom. The result announced early Friday was the one favored by Britain's political leaders, who had campaigned hard in recent weeks to convince Scottish voters to stay. It dashed many Scots' hopes of breaking free and building their own nation. (AP Photo/David Cheskin)

ISIS and arming Syrian fighters. Scotland rejects independence. NFL turmoil. US troops and Ebola. Our weekly news roundtable goes behind the headlines.

Sep 19, 2014
Joseph O'Neill (courtesy of the author)

Author of “Netherland,” novelist Joseph O’Neill is back, with “The Dog,” on globalization, capitalism, and self-discovery in Dubai.

RECENT
SHOWS
Sep 19, 2014
Joseph O'Neill (courtesy of the author)

Author of “Netherland,” novelist Joseph O’Neill is back, with “The Dog,” on globalization, capitalism, and self-discovery in Dubai.

 
Sep 19, 2014
No campaigners celebrate as results come in at the Scottish independence referendum count at the Royal Highland Centre in Edinburgh,Scotland,Friday, Sept. 19, 2014. Scottish voters have rejected independence and decided that Scotland will remain part of the United Kingdom. The result announced early Friday was the one favored by Britain's political leaders, who had campaigned hard in recent weeks to convince Scottish voters to stay. It dashed many Scots' hopes of breaking free and building their own nation. (AP Photo/David Cheskin)

ISIS and arming Syrian fighters. Scotland rejects independence. NFL turmoil. US troops and Ebola. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
Our Week In The Web: September 19, 2014
Friday, Sep 19, 2014

Lots of big, contentious topics on the show this week — from Zionism to early education, corporal punishment to development in the Grand Canyon.

More »
Comment
 
Talking Through The Issue Of Corporal Punishment For Kids
Wednesday, Sep 17, 2014

On Point dove into the debate over corporal punishment on Wednesday — as Minnesota Vikings running back Adrian Peterson faces charges in Texas after he allegedly hit his four-year-old son with a switch.

More »
2 Comments
 
Our Week In The Web: September 12, 2014
Friday, Sep 12, 2014

In which you had varied reactions to the prospect of a robotic spouse.

More »
Comment