The world economy finally seems to be rising from the worst calamity since the Great Depression. Matthew Bishop, U.S. business editor of The Economist, has tracked the downfall and has concluded that our political leaders are propping up the economy but failing to make the fundamental changes necessary to fix the weaknesses that lead to the collapse in the first place. In his book, The Road to Ruin, he says the Fed, the Treasury, the SEC and the Commodity Futures Trading Commission all watch over the system without any central authority providing coherent regulation. Larry speaks with Bishop about his recommendations for fixing the underlying flaws in the U.S. economy.
Matthew Bishop, U.S. business editor of The Economist and co-author with Michael Green of The Road From Ruin: How to Revive Capitalism and Put America Back on Top and U.S. business editor of The Economist. Bishop is a former faculty member of the London Business School.