PLEDGE NOW
Wall St., A Year After the Meltdown
The Federal Reserve Bank of New York, where high level meetings were held in a last attempt to save Lehman Brothers, photographed on Sunday, Sept. 14, 2008. (AP)

The Federal Reserve Bank of New York, where high level meetings were held in a last attempt to save Lehman Brothers, as photographed on Sunday, Sept. 14, 2008. (AP)

One year ago this week, Wall Street was coming down, and taking the American economy with it. AIG, Merrill Lynch in free fall. Giant banks wobbling. Lehman Brothers, allowed to collapse.

Americans lost jobs and dreams and years of savings. Everyone swore the system had to change.

One year later, Wall Street’s survivors are very much back in business. Big pay, big risks — and surprisingly little change in regulation and oversight.

Could it all happen again? Yes, says my guest today, and it could be worse.

This hour, On Point: Simon Johnson on Wall Street, one year after the meltdown.

You can join the conversation. Tell us what you think — here on this page, on Twitter, and on Facebook.

Guests:

Joining us from New York is Matthew Bishop, American business editor and New York bureau chief for The Economist. His forthcoming book is called “The Road From Ruin: How to Renew Capitalism and Get America Back On Top.”

And from Washington, D.C., we’re joined by Simon Johnson, professor at MIT’s Sloan School of Management and former chief economist at the International Monetary Fund. He is co-founder of the widely-cited website The Baseline Scenario, where he blogs regularly, and senior fellow at the Peterson Institute for International Economics. His article on the cover of the September 23 issue of The New Republic, co-authored with Peter Boone, is titled “The Next Financial Crisis: It’s coming–and we just made it worse.”

More links:

President Obama goes to Wall Street today to deliver a big speech on financial regulation, as the Treasury Department releases a 53-page report titled “The Next Phase of Government Financial Stabilization and Rehabilitation Policies” (full text).

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Jul 31, 2015
Former University of Cincinnati police officer Ray Tensing, second from left, appears before Judge Megan Shanahan at Hamilton County Courthouse for his arraignment in the shooting death of motorist Samuel DuBose, Thursday, July 30, 2015, in Cincinnati. Tensing pleaded not guilty to charges of murder and involuntary manslaughter. (AP)

A new police murder charge and a black man dead in Ohio. Iran Deal heat and Huckabee. Malaysia Air. Our weekly news roundtable goes behind the headlines.

Jul 31, 2015
In this undated photo provided by the Wildlife Conservation Research Unit, Cecil the lion rests in Hwange National Park, in Hwange, Zimbabwe. Two Zimbabweans arrested for illegally hunting a lion appeared in court Wednesday, July 29, 2015. (AP)

Canned lion hunts and the fate of big game in Africa, after the outrage over Cecil.

RECENT
SHOWS
Jul 31, 2015
In this undated photo provided by the Wildlife Conservation Research Unit, Cecil the lion rests in Hwange National Park, in Hwange, Zimbabwe. Two Zimbabweans arrested for illegally hunting a lion appeared in court Wednesday, July 29, 2015. (AP)

Canned lion hunts and the fate of big game in Africa, after the outrage over Cecil.

 
Jul 31, 2015
Former University of Cincinnati police officer Ray Tensing, second from left, appears before Judge Megan Shanahan at Hamilton County Courthouse for his arraignment in the shooting death of motorist Samuel DuBose, Thursday, July 30, 2015, in Cincinnati. Tensing pleaded not guilty to charges of murder and involuntary manslaughter. (AP)

A new police murder charge and a black man dead in Ohio. Iran Deal heat and Huckabee. Malaysia Air. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
Our Week In The Web: July 31, 2015
Friday, Jul 31, 2015

A regular reminder that RTs are not endorsements, links have specific authorship and patience is a virtue.

More »
2 Comments
 
Q & A: Scott Walker On The Iran Deal, Huckabee Comments
Monday, Jul 27, 2015

Wisconsin Gov. Scott Walker explains his opposition to the Iran Deal, his record of statewide electoral victory and why he feels he’s set to win the 2016 Republican Presidential nomination.

More »
Comment
 
Q & A: Carly Fiorina On Trump, Sexism, And Being Cut From The GOP Debate
Monday, Jul 27, 2015

Republican Presidential Candidate Carly Fiorina, the former CEO of computer giant Hewlett-Packard, joined guest host John Harwood to talk Donald Trump, the upcoming Republican candidate debate and sexism in modern life.

More »
Comment