Is the US Becoming a Banana Republic?

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An article in the Atlantic magazine is drawing a lot of attention from Wall Street to Washington. It's about cozy relations between financial and political institutions that make the US look like Argentina, Russia, Indonesia and other “emerging markets.” A former chief economist for the International Monetary Fund says Democrats and Republicans have enabled “financial oligarchs” to accumulate too much political power, so much that they can resist the reforms needed for economic recovery. Is it time for the government to wake up to reality?

Credits

Guests:
Simon Johnson - Massachusetts Institute of Technology - @baselinescene, Desmond Lachman - former Deputy Director of the Policy and Review, International Monetary Fund, Thomas Ferguson - Professor of Political Science, University of Massachusetts, Michael Mandel - Editor in Chief, Visible Economy

Host:
Warren Olney

Producers:
Katie Cooper, Christian Bordal, Frances Anderton