I agree with Simon Johnson that although KKN or korrupsi, kollusi, nepotism, i.e., corruption, collusion, nepotism, respectively, earlier seemed to be a problem faced by only some third world nations, like Korea, Thailand, Indonesia or Russia, now even America is facing the same problems and crisis situations. Although it is a common belief that America is a special and extremely rich nation, people have the opinion that the economic crisis the world is facing today actually began in the USA. It is also my belief that America, too, has been almost taken over by the influential oligarchies since their government, to some extent, is being run by only a handful of powerful people having a lot of wealth.
However, they do not accept their present situation, and that oligarchy is actually the exact opposite of democracy. They have the power to make all the important decisions, and even in times of crisis, they still maintain their power and sometimes become even more influential.
I agree with Simon Johnson when he says that although there are many people with a lot of experience, the crisis the world is facing today is different, and nothing like this has taken place since the Great Depression. Thus, nobody had any actual experience on how to come out of it. It is not that these people are incapable; it is just that they are not the ultimate authority or the right people for the present situation. I think that they are good and esteemed citizens of the USA but have their own view of the world and their own interest, i.e., the interest of the financial industry of USA, to look after.