By James Kwak
13 Bankers is #11 on the New York Times hardcover nonfiction bestseller list.* I’m certain that could not have happened without the readers of this blog. (Actually, the book would not have existed in the first place without this blog, and the blog wouldn’t exist without readers.) It’s also #4 on the Wall Street Journal hardcover business list and #14 on the Indiebound hardcover nonfiction list.
In other major news, the book is Arianna Huffington’s pick for April, which means that there will be a month of blog posts by us and by other bloggers at the Huffington Post. Our first post in the series, arguing against the “banana peel” theory of the financial crisis, is already up. We’ve lined up a wide range of commentators, several of whom we expect to disagree with us rather strongly.
We also have some full-length video of presentations by Simon. Over the next week, I’ll be in Providence and Simon will be in Chicago and Los Angeles (schedule here). Simon has a bunch of interviews; I’ll be on Sense on Cents tomorrow evening.
* The list is for the week ending April 3. It goes on the Web on April 9 but doesn’t go into the print edition until April 18, by which point it is two weeks out of date. (One friend thinks the lag is to give bookstores enough time to stock their shelves.)



“13 Bankers”: National Public Radio Interview
By Simon Johnson
On Friday afternoon, NPR’s All Things Considered broadcast Robert Siegel’s interview with me on 13 Bankers (further down that link there is an excerpt from the very beginning of the book).
We talked, naturally enough, about how the ideas in 13 Bankers connect with the current policy debate – specifically the financial reform legislation now before the Senate. As anticipated when the book went to press in January, some sensible measures to protect consumers of financial products seem possible – yet this progress just emphasizes how and why we have not yet broken through on Too Big To Fail issues.
But there is a broader point here also. What happened in 2008-09 should not be allowed to happen again. The nature of power in and around the financial sector has become so great – and so distorted – that it harms the rest of us.
I don’t think a majority of Americans understand how much influence financial institutions have in Washington, DC. Banks used to answer to Washington. They were once held accountable for their actions. That is no longer is the case. Continue reading →
→ 50 Comments
Posted in Commentary
Tagged 13 bankers