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Michael Lewis & Bethany McLean: Is Wall Street Clean?

After the financial crash and bailouts and commissions, did we clean up Wall Street? We ask Michael Lewis and Bethany McLean.

A pair of traders work on the floor of the New York Stock Exchange, Jan. 28, 2011. (AP)

A big federal report came out last week on the 2008 financial meltdown that blew up the American economy. The report got rolled over by Egypt news, but its issue is still wrapped around all of our necks.

The meltdown was avoidable, it said. And if we don’t recognize that and act differently, it will happen again.

So, has Wall Street really changed?

Michael Lewis wrote Liar’s Poker and The Big Short. He’s with us. Bethany McLean uncovered Enron and co-authored the not new All the Devils are Here: The Hidden History of the Financial Crisis. She’s here, too.

We look at Wall Street now.

-Tom Ashbrook

Guests:

Michael Lewis, award-winning author, financial journalist, and contributing editor to Vanity Fair. His best-selling book about the financial crisis, The Big Short: Inside the Doomsday Machine, is out in paperback.

Bethany McLean, contributing editor to Vanity Fair and a contributor to Slate magazine. She’s co-author, with Joe Nocera, of All the Devils Are Here: The Hidden History of the Financial Crisis. She also is a former editor-at-large and columnist at Fortune magazine, where she broke the story of corrupt business practices at Enron.

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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.

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Oct 30, 2014
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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
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