From New York, a special issue on America, 10 years after the financial crisis. Botching the Great Recession: Paul Krugman on why the slump went on so much longer than it should have. Rich people broke America and never paid the price. Charts of the day: The banking industry ten years after the crash. The question isn’t when is the next recession coming — it’s what are we going to do about it. Whitney Curry Wimbish on the calm before the crash: Things are going great, according to the Wall Street propaganda machine. Ten years after the crash: The financial crisis of 2008 was years in the making and has had a lasting impact on American political life. The world of today brought to you by the financial crisis.

From Midwest Studies in Philosophy, Tom Sorell (Warwick): Responsibility in the Financial Crisis; Kendy Hess (Holy Cross): Who’s Responsible? (It’s Complicated): Assigning Blame in the Wake of the Financial Crisis; Mark Hannam (London): Blaming Ourselves; and Joseph Heath (Toronto): Mistakes Were Made: The Role of Catallactic Bias in the Financial Crisis. The next financial crisis lurks underground: Fueled by debt and years of easy credit, America’s energy boom is on shaky footing. After the financial crisis, Wall Street turned to charity — and avoided justice. Our financial system only works for the 1% — it will take another crash to fix it. Ten years after Lehman’s collapse, these ten risks could cause the next crisis.

From the Congressional Research Service, a report on Costs of Government Interventions in Response to the Financial Crisis: A Retrospective. Many lawmakers and aides who crafted financial regulations after the 2008 crisis now work for Wall Street. From the global financial crisis to know-nothing nativism: Jonathan Kirshner reviews Crashed: How a Decade of Financial Crises Changed the World by Adam Tooze (and more and more). The forgotten history of the financial crisis: Adam Tooze on what the world should have learned in 2008. Neel Kashkari says Wall Street is “forgetting the lessons of the 2008 financial crisis”. A legacy of the financial crisis? The makings of the next one.

Robert H. Nelson (Maryland): The Financial Crisis as a Religious Crisis. We thus arrive at the topic that more than any other sums up the decade since the crash: inequality. Duncan Weldon on how economists predicted the wrong financial crisis. The financial crisis cost every American $70,000, Fed study says. Ryan Cooper on the biggest policy mistake of the last decade. “How about a Mueller probe but for all of US banking during the housing bubble and crash”. Ten years after the financial crash, the timid Left should be full of regrets. Tom Gallagher reviews Can Democracy Survive Global Capitalism? by Robert Kuttner. Why did the slump last so long? Cynical, bad-faith Republican politics.

From Congressional Research Service, a report on Regulatory Reform 10 Years After the Financial Crisis: Dodd-Frank and Securities Law. Ben S. Bernanke, Timothy F. Geithner and Henry M. Paulson Jr. on what we need to fight the next financial crisis (and a response by Dean Baker). The winners and losers of the longest-ever bull market: The nine-year rally is a window into the uneven nature of the recovery from the Great Recession. A record-breaking market doesn’t matter to most Americans. The banks change — except for all the ways they’re the same. Fears of the next recession: What will it do to the many millions of Americans who still haven’t recovered from the last one?

Jason Furman (Harvard): The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time. He was the resistance inside the Obama administration: Timothy Geithner’s refusal to obey his boss has had long-term political and economic consequences. We must thank The Washington Post for running Robert Samuelson — he can always be counted on to get almost everything wrong. The source of the next recession: History suggests that the Trump administration’s zeal for financial deregulation could lead to an economic crisis. The folks who missed the last financial crisis are warning about the next one.

A time for big economic ideas: To end the worst stagnation in living standards since the Great Depression, the country needs to be bold. Heather Long on the alarming statistics that show the U.S. economy isn’t as good as it seems. The credit crunch and the Great Recession: Ben Bernanke argues that it was mainly about finance. The 2008 crisis really did start off worse than the Great Depression. A decade after the financial crisis, many Americans are still struggling to recover. Republicans are sowing the seeds of the next financial crisis — it’s way bigger than the Volcker Rule. We’re measuring the economy all wrong: The official statistics say that the financial crisis is behind us — it’s not.

The financial crisis may have scarred a generation for life. The bailouts for the rich are why America is so screwed right now. Ten years after the crash, we’ve learned nothing.


From the Annual Review of Political Science, Mark Dincecco (Michigan) and Yuhua Wang (Harvard): Violent Conflict and Political Development Over the Long Run: China Versus Europe. Peter Admirand (DCU): Should We Still Teach a Beautiful Novel by a Racist Author? How to fight Amazon (before you turn 29): Lina Khan has a novel theory about monopolies — and her sights are set squarely on the company. Brishen Rogers on the limits of antitrust enforcement (and more). Rick Scott is preparing to pack the State Supreme Court after his term ends. Adam Serwer on the NRA’s Catch-22 for black men shot by police. Laurie Penny on how there’s no use debating a feeling — it’s time to change how we engage with Jordan Peterson.

California professor Christine Blasey Ford, writer of confidential Brett Kavanaugh letter, speaks out about her allegation of sexual assault. Prachi Gupta on the political myth of the good man. Michelle Goldberg on the shame of the MeToo men. Hamilton Nolan on the math of Jeff Bezos’ astounding greed. Stop saying “drain the swamp”: Democrats can talk about Trump corruption, or about lobbyists and campaign finance, but they’re not the same. Tamsin Shaw on Edward Snowden reconsidered. What would Noam Chomsky, Deepak Chopra, a very friendly robot, plus a bevy of scientists, mystics, and wannabe scholars do at a fancy resort in Arizona? Perhaps real harm to the field of consciousness studies, for one thing.


President Trump’s description of what’s “fake” is expanding. What a baby: Only a man who is deeply worried about his own strength would talk as much as Donald Trump does about the danger of appearing weak. Is Donald Trump a fascist? Peter Beinart reviews How Fascism Works: The Politics of Us and Them by Jason Stanley. Michael Moore plays his Trump card: A new movie, modern fascism and a 2020 prediction. A look inside the cursed world of Trump administration fan art. Trump didn’t drain the swamp — supporters are starting to notice. President Trump is a national security crisis — and voters know it.

Trump’s ties to the Russian mafia go back 3 decades: Sean Illing interviews Craig Unger, author of House of Trump, House of Putin. Trump really hates apologizing for misogyny and racism — new reporting explains why. It takes more than “adults in the room” to control a petulant leader like Trump. “Trump believes there’s a coup”: Freaked by the Times op-ed, the president is seeing enemies everywhere. Stephen Miller may be the only staffer Trump trusts now.

Bannon says right must support RINOs: “One of the things we have to convince people of is, it doesn’t matter that Pete Sessions is a RINO. He’s a vote for Donald Trump and that’s all you have to think about. And not just, you have to vote for him — you’re going to have to go out and work a precinct, and ring doorbells, and do a phone bank for him”. The threat to democracy isn’t coming from its people. Responses to the demagogue: Bob Bauer on “unsung heroes” and the impeachment process.

Marcy Wheeler on Rudy’s (and John Dowd’s) apparent desperation to stave off a mass prisoner’s dilemma: “Trump needs his fellow Republicans to believe that Paul Manafort isn’t providing evidence that incriminates him. Because if they start to believe that, their calculations behind support for him may change, and change quickly”.

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