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FROM THIS EPISODE

After the stimulus bill, the President's next economic challenge will be another massive bailout. We talk about how much federal control should come with increased federal ownership of America's major financial institutions. Also, hot and heavy politicking over the stimulus bill. On Reporter's Notebook, Barack Obama's faith-based initiative: a new policy or more of the same?


Banner image: President Barack Obama listens as Treasury Secretary Timothy Geithner delivers remarks about executive compensation. Photo:Win McNamee/Getty Images

Producers:
Gary Scott
Christian Bordal
Sonya Geis

Reporter's Notebook Is Obama's Faith-Based Initiative Even Bigger than Bush's? 7 MIN, 41 SEC

One of George W. Bush's most controversial creations was what came to be called the faith-based initiative. It raised questions about the Constitutional separation of church and state. Now, Barack Obama has signed a faith-based initiative of his own, one which he says “will not be to favor one religious group over another, or even religious groups over secular groups” but to work on behalf of our communities “without blurring the line that our founders wisely drew between church and state." Dan Gilgoff is senior editor at US News and World Report, and writes the God and Country blog.

Guests:
Dan Gilgoff, CNN (@dangilgoffCNN)

Making News Hot and Heavy Politicking over the Stimulus Bill 6 MIN, 7 SEC

Last week saw 626,000 new claims for unemployment benefits, 30,000 more than the week before, and enough to create a new sense of urgency for the President's stimulus package. At the Energy Department, he made the case for quick action, praising “constructive changes” that have been made but affirming that that “scale and the scope of this plan is the right one." David Lightman is White House correspondent for the McClatchy Newspapers.

Guests:
David Lightman, McClatchy Newspapers (@LightmanDavid)

Bailout Nation

Barry Ritholtz

Main Topic Getting the Biggest Bang from the Next Bailout 35 MIN, 23 SEC

Big chunks of America's biggest banks are now owned by the taxpayers and, with billions more bailout money to come, they're going to own more. The Obama Administration is faced with a major question: with federal ownership on the increase, should there be more federal control? The President says he won't subsidize failure by allowing bailout money to pay for executive bonuses. Does he need to do more? Should he nationalize the banks and dismiss the architects of failure? Buy up those “toxic assets?” Cut the size of banks so they're not “too big to fail?” What's the best way to get the biggest bang for the next bailout?

Guests:
Michael Shnayerson, Contributing Editor, Vanity Fair
David Smick, global financial market strategist
Barry Ritholtz, Fusion IQ (@ritholtz)
Simon Johnson, former Chief Economist, International Monetary Fund

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