The World

Kevin Phillips

Author Kevin Phillips talks about his new book, “Bad Money,” in which he explains why he thinks the explosive growth of America’s Wild West financial markets is to blame for the ongoing economic swoon.

Former Nixon strategist Kevin Phillips believes that a perfect economic storm is rewing. He blames the explosion of debt, our use of fuzzy economic statistics, and rising energy costs for leading us beyond the precipice and into a major financial crisis. It’s all detailed in his new book, Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism, and he speaks with Faith Salie on Fair Game.