Over the past months, the U.S. dollar has continued its free fall. In Bad Money: Reckless Finance, Failed Politics and the Global Crisis of American Capitalism, Kevin Phillips argues that the American economy, despite its global dominance, is built upon a house of cards. Phillips investigates the decline of the dollar over the last six years, proposing this is the result of Washington's financial irresponsibility, as well as its failure in Iraq. He also explores the political and commercial implications of its plummeting value and weighs in on what the new administration must do to reverse the tide of wayward megafinance- World Affairs Council of Northern California
David C. Kenny
Partner, Squire Sanders & Dempsey LLP
Dave Kenny has for more than 30 years advised domestic and foreign financial institutions on regulatory, examination, credit, corporate and operational matters. His practice also includes international trade finance, transborder mergers and acquisitions, the securities and insurance activities of financial institutions, and new financial products and services.
Mr. Kenny has testified on international banking and financial services law before committees of the California State Legislature, and from 1986 to 1989 was retained by the California Bankers Association as principal consultant and draftsman for foreign and international banking law matters in connection with a proposed revision of aspects of California state banking law.
Mr. Kenny also represents nonfinancial institution clients in matters involving transnational commercial and business transactions and private and public international law. He serves as international counsel to Stanford University and represents other universities in foreign and international law matters. He has also been in charge of his law firm's office in Kuwait (1976) and Singapore (1979).
Prior to joining the firm, Mr. Kenny served with the US Government in Panama and Ecuador and acted as a law clerk in the Legal Adviser's Office of the US Department of State.
Mr. Kenny has lectured on banking law and international law at the business and law schools of Stanford, the University of California at Berkeley and other universities. He has also lectured on US banking law at the head offices of more than 30 international banks in Asia and Europe.
Mr. Kenny has served as Chair of the San Francisco Bank Attorneys Association and is a member of the Financial Institutions Committee of the State Bar of California and of the California Bankers Association's State Governmental Relations Committee. He is also a member of the World Affairs Council of Northern California and of the International Diplomacy Council, and is a past president of the California Council for International Trade, the Stanford Alumni of San Francisco, and the Forest Hill Association.
He is admitted to practice of law in California.
Kevin Phillips is the author of American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century.
Phillips is a political writer and commentator. Formerly a Republican strategist, Phillips has become disaffected with his former party over the last two decades, and is now one of its harshest critics.
He is a regular contributor to the Los Angeles Times and National Public Radio, and is a political analyst on PBS' NOW with Bill Moyers.
Kevin Phillips illustrates the extraordinary growth of domestic financial debt in America, and how the federal debt pales in comparison. Phillips demonstrates that while federal debt has remained consistent, domestic financial debt has increased tremendously, due to reckless and experimental borrowing and investment.
Kevin Phillips offers candid observations on the upcoming Presidential election and his thoughts about the Democratic "dream ticket." Phillips proposes that if the Democratic candidates do not join forces, they will destroy each other.