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Download Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money Audiobook

Extended Audio Sample Bad Money: The Inexcusable Failure of American Finance: An Update to Bad Money Audiobook, by Kevin Phillips Click for printable size audiobook cover
3 out of 53 out of 53 out of 53 out of 53 out of 5 3.00 (511 ratings) (rate this audio book) Author: Kevin Phillips Narrator: Scott Brick Publisher: Penguin Random House Format: Unabridged Audiobook Delivery: Instant Download Audio Length: Release Date: April 2008 ISBN: 9781429592147
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The bestselling author reveals how the US financial sector has hijacked our economy and put America's global future at risk.

In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillips's prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. America's current challenges (and failures) run striking parallels to the decline of previous leading world economic powers—especially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.

“Bad money” refers to a new phenomenon in wayward megafinance—the emergence of a US economy that is globally dependent and dominated by hubris-driven financial services. Also “bad” are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the US dollar has been turned into bad money as it has weakened and become vulnerable to the world's other currencies. In all these ways, “bad” finance has failed the American people and pointed US capitalism toward a global crisis. Bad Money is the perfect follow-up to Phillips’s last book, whose dire warnings are now proving frighteningly accurate.                                          

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Listener Opinions

  • 2 out of 52 out of 52 out of 52 out of 52 out of 5 Jrobertus | 2/20/2014

    " Saddly, I could not work up enough interest to finish this book. I have enjoyed some of his other books, and I don't doubt this one is well researched and spot on. It deals with the history and casue of our our current (2008-9) financial mess. Even so, it is just too boring for words, so I gave up. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Devi | 2/18/2014

    " One way I know a non-fiction book that interested me is by the number of "stickies" that are in the book identifying references or other points I want to look at later. This book is loaded with them. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 Bucky | 2/16/2014

    " Be sure to get the latest paperback edition which includes a 50-page forward/update written just after Obama's inauguration. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Rod Zemke | 2/12/2014

    " Great author--good book. Phillips has a great mind and is a very original thinker. The material can be a bit arcane if you are not that interested in finance. "

  • 2 out of 52 out of 52 out of 52 out of 52 out of 5 Greg | 1/30/2014

    " Was I supposed to understand that? Actually, there were parts of this I enjoyed, particularly those focussing on each particular White House administration and the increasing role of dynasties in US politics. Most of the economics was over my head but it was interesting to hear about this now having sold e house we originally bought in September 2007. "

  • 3 out of 53 out of 53 out of 53 out of 53 out of 5 Bill | 1/20/2014

    " This is a good follow-up to American Theocracy. "

  • 3 out of 53 out of 53 out of 53 out of 53 out of 5 Carroll Straus | 1/20/2014

    " I could not read it all but what is in it it needs to be better known. "

  • 3 out of 53 out of 53 out of 53 out of 53 out of 5 Jonathan | 1/15/2014

    " A bit confusing for someone who doesn't know the financial system well in this country. But the overall takeaway is that our country is in a financial crisis that will not easily go away and our biggest financial threats will come from Asia. "

  • 3 out of 53 out of 53 out of 53 out of 53 out of 5 Laura | 12/7/2013

    " one of the more helpful reads to figure out the collapse.. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 Majid Khan | 11/18/2013

    " A great read, although it can be a little meandering at times. This book is, in a sense, an update to his prior book "Wealth and Democracy". "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Richard | 11/15/2013

    " As usual, Kevin Philips does not disappoint with this well researched book anticipating the Market Crash of 2008. A former Republican consultant, Philips has made the leap from a partisan politician to an even handed commentator about the state of the economy. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 Stacy | 11/14/2013

    " excellent overview of predatory capitalism and the evident results in today's financial and world economic crisis.m,m,The author was an economic advisor to Richard Nixon. I highly recommend this. "

  • 3 out of 53 out of 53 out of 53 out of 53 out of 5 Joshua | 6/26/2013

    " This book was interesting but blabbered on for too long and didn't connect the items that well. It seems that it could be structured better and communicate all points with reduction in pages. "

  • 1 out of 51 out of 51 out of 51 out of 51 out of 5 Edgar | 2/21/2012

    " I had a hard time getting pulled into this book. It was a little dry and didn't have that much useful information, although it was likely accurate in the current description of current financial trends. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Mary | 1/19/2012

    " Phillips is always good. For an explanation of the latest financial crisis this one can not be beat. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Spenser | 4/27/2011

    " I have learned a lot about our wonderful world in washington "

  • 3 out of 53 out of 53 out of 53 out of 53 out of 5 David Wilkins | 1/31/2011

    " A bit dense, get the summary at the end should be read by everyone. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 Naomi | 2/27/2010

    " Kevin Phillips' interview on Bill Moyers' show on PBS Friday September 19th was riveting and chilling. This could be THE BOOK to read to better understand the Wall Street mess we're in. "

  • 5 out of 55 out of 55 out of 55 out of 55 out of 5 Wred Fright | 9/6/2009

    " If you want to know how the country ended up in this economic mess, then read this. Phillips has been a lonely Cassandra trying to warn us of potential economic disaster for years, and this was his last attempt before the fit hit the shan. "

  • 4 out of 54 out of 54 out of 54 out of 54 out of 5 Kathy | 5/15/2009

    " Not exactly entertaining, but it held my attention. Appears to be a plausible overview of the road leading to the current financial debacle. "

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About the Author

Kevin Phillips, author of Wealth and Democracy, The Cousins’ War, and Arrogant Capital, is a regular contributor to the Los Angeles Times, New York Times Magazine, and Washington Post. He is also a commentator for CBS and National Public Radio, and he edits his own newsletter, American Political Report. He lives in Connecticut.

About the Narrator

Scott Brick, actor, narrator, and writer, attended UCLA and spent ten years in a traveling Shakespeare company. Passionate about the spoken word, he has narrated a wide variety of audiobooks, from thrillers and science fiction to classics and nonfiction. He has recorded more than eight hundred audiobooks and won over fifty AudioFile Earphones Awards and several of the prestigious Audie Awards. He was named a Golden Voice by AudioFile magazine and the Voice of Choice for 2016 by Booklist magazine.