DN - "Infinite Debt: How Unlimited Interest Rates Destroyed the Economy"

March 25, 2009
Thomas Geoghegan on "Infinite Debt: How Unlimited Interest Rates Destroyed the Economy"
The Obama administration unveils its $1 trillion plan to buy toxic assets from banks and restore the financial system. But should we return to the way it was? We speak with Chicago lawyer Thomas Geoghegan about his new Harpers Magazine cover story, Infinite Debt: How Unlimited Interest Rates Destroyed the Economy. Geoghegan writes, We dismantled the most ancient of human laws, the law against usury, which had existed in some form in every civilization from the time of the Babylonian Empire to the end of Jimmy Carters term.