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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.

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ONPOINT
TODAY
Oct 22, 2014
Health workers carry the body of a woman suspected of contracting the Ebola virus in Bomi county situated on the outskirts of Monrovia, Liberia, Monday, Oct. 20, 2014. (AP)

We’ll go to Liberia, and hear from a pastor and a physician at the epicenter of the Ebola crisis.

Oct 22, 2014
Authors Nicholas Kristof and wife Sheryl WuDunn attend the premiere of "Meena" at the AMC Loews Theater on Thursday, June 26, 2014 in New York.

Author and New York Times columnist Nicholas Kristof says regular folks like us can change the world. He explains how. Plus: we remember the late, great Washington Post editor, Ben Bradlee.

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Oct 21, 2014
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The future of the car: from the fuels they’ll run on, to the materials they’ll be made of, to the computers that may drive them.

 
Oct 21, 2014
David Perdue, Michelle Nunn

Two weeks to go till Midterm Election Day. We’ll look at how the biggest issues are playing out around the country.

On Point Blog
On Point Blog
Introducing The Explicast: A New Podcast From On Point Radio
Friday, Oct 17, 2014

Confused about the news? Don’t worry: so are we sometimes! Introducing a new On Point Radio podcast: The Explicast. You can find Episode One right here.

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Two LIVE Tracks From Jazz Violinist Regina Carter
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Regina Carter shares two live tracks — one arrangement, and one original composition — with Tom Ashbrook in the On Point studio.

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Our Week In The Web: October 17, 2014
Friday, Oct 17, 2014

We talk Facebook mishaps, whether Katy Perry was actually right and the glory of architectural giants and their iconic windows.

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