Wednesday 2 November 2016
12:30
Rana Foroohar
Assisting Managing Editor at TIME and CNN's Global Economic Analyst
Is Wall Street bad for American business? According to Rana Foroohar, eight years on from the biggest market meltdown since the Great Depression, the key lessons of the crisis of 2008 still remain unlearned—and our financial system is just as vulnerable as ever. She argues that our government failed to fix the banking system after the subprime mortgage crisis, and that the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate all American businesses, putting us on a collision course for another cataclysmic meltdown.
Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Rana Foroohar shows how the “financialization of America”— the trend by which finance and its way of thinking have come to reign supreme—is perpetuating Wall Street’s reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream.
Rana Foroohar is an assistant managing editor at TIME, and writes the Curious Capitalist column. She is also CNN’s global economic analyst.
Prior to joining TIME and CNN, Foroohar spent 13 years at Newsweek, as an economic and foreign affairs editor and a foreign correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund’s Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Johns Hopkins School of International Affairs and the East West Center. She is a life member of the Council on Foreign Relations.
"Foroohar demystifies the decline in America’s economic prominence, showing that the competitive threats came not from the outside — migration or China — but from within our borders. She explains how finance has permeated every aspect of our economic and political life, and how those who caused the financial crisis wound up benefiting from it."
Rana Foroohar is an assistant managing editor at TIME, and writes the Curious Capitalist column. She is also CNN’s global economic analyst.
Prior to joining TIME and CNN, Foroohar spent 13 years at Newsweek, as an economic and foreign affairs editor and a foreign correspondent covering Europe and the Middle East. During that time, she was awarded the German Marshall Fund’s Peter Weitz Prize for transatlantic reporting. She has also received awards and fellowships from institutions such as the Johns Hopkins School of International Affairs and the East West Center. She is a life member of the Council on Foreign Relations.
