Looting & the Usury Economy


I really enjoy the great breadth of topics and interviewees on the Leonard Lopate Show. On yesterday’s show, Lopate’s guests added an interesting view to the conversation about the economic crisis.

Have you found yourself wondering latley “who or what destroyed the economy?” Well, New York Times columnist David Leonhardt and labor lawyer Thomas Geoghegan have a simple answer to that question: we’ve been robbed. In his article “Infinite Debt” for the April issue of Harpers Geoghegan theorizes that the legalization of usury created perverse incentives for investors that led to a flight of capital. Leonhardt takes the theory a step further in his Times article by suggesting that investors knowingly looted money from the government in the form of bailouts.

Listen for yourself.


Leave a comment

Filed under Essays

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s