Leo discusses the use of vast amounts of capital for, at best, highly questionable projects like more resorts in the Nevada desert and stadiums on the North Texas plain.  With huge deficits facing the US and a constrained capital account, why did we make the choices that we did over the past decades?  One thing is for sure, and that is it won't be easy to undo overnight.

LISTEN: New Capital Show (June 11, 2009)