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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 31, 2014
Nurse Kaci Hickox, right, and her boyfriend, Ted Wilbur are followed by a Maine State Trooper as they ride bikes on a trail near her home in Fort Kent, Maine, Thursday, Oct. 30, 2014.  (AP)

Quarantines and Ebola. An exploding rocket. Apple’s CEO comes out. Hawaiian lava flows. Midterms in the home stretch. Our weekly news roundtable goes behind the headlines.

Oct 31, 2014
Doc Sportello (Joaquin Phoenix) and Sauncho Smilax (Beninico del Toro) share a drink in a scene from the upcoming Paul Thomas Anderson film, "Inherent Vice," an adaptation of the Thomas Pynchon novel of the same name. (Courtesy Warner Bros. Entertainment)

from “Interstellar” to “Into the Woods.” The biggest and best movies of the fall and holiday seasons. What to see, what to skip.

RECENT
SHOWS
Oct 30, 2014
Soylent is a new meal-replacement substance meant to offer a complete nutritional alternative to traditional food. (Courtesy Soylent)

Soylent is a grey smoothie the consistency of pancake batter that claims it can replace all your food. On a crowded planet, is this the future of food? Plus: what does the Antares rocket crash mean for private space travel?

 
Oct 30, 2014
Realtor Helen Hertz stands in front of one of her listings in Cleveland Heights, Ohio Friday, Oct. 24, 2014. Hertz, a real estate agent for more than three decades, has seen firsthand what has happened to the market in the wake of the recession and foreclosure crisis. (AP)

Home ownership rates are at a 20-year low. Millennials and more aren’t buying. We’ll look at what American’s think now about owning a home.

On Point Blog
On Point Blog
A Bit More On The History Of Quarantine
Thursday, Oct 30, 2014

So this whole quarantine thing — why to do it, when to do it, and when to just say no.

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The Explicast, Episode Two: Why Is Election Day On A Tuesday?
Friday, Oct 24, 2014

The Explicast is back for another round. This time, we’re looking at Election Day, and why we all keep voting on a random Tuesday in early November.

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Our Week In The Web: October 24, 2014
Friday, Oct 24, 2014

On comments, comment sections, and ROY G BIV.

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