The SQUEEZE: Kevin Phillips’ previous work, American Theocracy, warns about financial recklessness. In Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism, Phillips explores the financial crisis fully, giving attention to the concept of “bad money” within the context of dollar depreciation, dangerous attitudes, and flawed products. Phillips argues that mega-finance has contributed much to the global financial crisis. It is the financial sector Phillips believes that has hijacked the American economy and he argues that it may be too late to stop it. Phillips’ book paints a harrowing picture of financial recklessness that shook the global financial sector.

Notable Endorsement: “A harrowing picture of national danger that no American reader will welcome, but that none should ignore. . . . Frighteningly persuasive.” --Alan Brinkley, The New York Times

Common Q’s Answered by this Book:

• What are the results of failed politics on the American economy?
• What are examples of mega-finance that contributed to the depreciation of the U.S. dollar?
• What methods did the U.S. financial sector employ that contributed to financial recklessness?

About the Author: Kevin Price Phillips is an American writer and commentator. Phillips’s research interests include politics, economics, and history. Phillips is a former Republican Party strategist, later becoming an Independent and scathing critic. Phillips regularly contributes to the Los Angeles Times, Harper’s Magazine, and National Public Radio. Philips was also a political analyst for PBS’s Now with Bill Moyers. Recent titles of his works include: William McKinley (2003); Arrogant Capital: Washington, Wall Street and the Frustration of American Politics (1994); and Boiling Point: Democrats, Republicans, and the Decline of Middle Class Prosperity (1993). Phillips completed a bachelor’s degree at Colgate University (1961); a master’s degree from the University of Edinburgh; and a law degree from Harvard University (1964).

Book Vitals:

• Publisher: Penguin Books (March 2009)