90.9 WBUR - Boston's NPR news station
Top Stories:
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
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.

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?

RECENT
SHOWS
Oct 29, 2014
A visitor looks at the simple wooden cross that marks the grave of Welsh poet and playwright Dylan Thomas, in Laugharne, Wales, Sept. 17, 1963. (AP)

A century after his birth, poet and writer Dylan Thomas lives on. We look at his exuberant work and short life.

 
Oct 29, 2014
In this Tuesday, Oct. 1, 2013 image provided by the Utah Division of Wildlife Resources, a young bear is rescued from drowning after eluding officials, at Lake Powell, Utah. (AP)

A big debate in the West over transferring Federal public lands to states. We’ll hear from both sides.

On Point Blog
On Point Blog
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.

More »
2 Comments
 
Our Week In The Web: October 24, 2014
Friday, Oct 24, 2014

On comments, comment sections, and ROY G BIV.

More »
Comment
 
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.

More »
3 Comments