Bad Money

In his acclaimed book <i>American Theocracy</i> Kevin Phillips warned of the perilous interaction of debt financial recklessness and the spiking cost (and growing scarcity) of oil- warnings that are proving to be frighteningly accurate. Now in his most significant and timely book yet Phillips takes the full measure of this crisis. They are a part of what he calls bad money- not just the depreciated dollar but also the dangerous attitudes and the flawed products of wayward mega-finance. His devastating conclusion: In its hubris the financial sector has hijacked the American economy and put our very global future at risk-and it may be too late to stop it.