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FROM THIS EPISODE

After yesterday's big sell-off, Wall Street was waiting for today's market reports. Could America's biggest insurer survive a ratings cut?  Would the Federal Reserve lower interest rates? We get an update on today’s developments on Wall Street and at the Federal Reserve and what they could mean for ordinary Americans, and hear more about what kinds of changes McCain and Obama might have in mind.  Also, Pakistan’s military has been ordered to fire if US troops cross the border. Has it already happened?


Photo: Stan Honda/AFP/Getty Images

The Predator State

James Galbraith

Producers:
Gary Scott
Katie Cooper
Christian Bordal

Making News Obama, McCain Battle for Momentum on Economy 6 MIN, 11 SEC

As the world watched the growing financial crisis, the presidential candidates promised to never let it happen again. Janet Hook reports on politics for the Los Angeles Times.

Guests:
Janet Hook, Wall Street Journal (@hookjan)

Main Topic Will the Turmoil on Wall Street Spread to Main Street? 34 MIN, 28 SEC

Financial institutions most Americans don’t even think about are now front and center in the presidential campaign. The country's biggest insurer -- American International Group, or AIG -- is the latest major player whose troubles threaten economic security. At the same time, ATM's are still dispensing cash, credit-card offers arrive in the mail and it's even possible to get a mortgage. We get the latest from Wall Street, hear what John McCain and Barack Obama are saying and learn what's at stake for ordinary Americans. 

Guests:
Greg Ip, Economist magaqzine (@greg_ip)
Daniel Gross, Daily Beast (@grossdm)
Mark Zandi, Moody's Analytics (@dismalscientist)
James Galbraith, University of Texas, Austin

Reporter's Notebook Tensions Rise between Pakistan, US Military on the Afghan Border 8 MIN, 31 SEC

If American troops cross the border into their country, Pakistan's military has been ordered to fire. Admiral Mike Mullen, chair of the US Joint Chiefs of Staff, is in Pakistan where there's confusion over whether American helicopters were fired on hear the border with Afghanistan. Both countries deny reports that such an incident has already occurred. Stephen Cohen, a former member of the Policy Planning Staff at the State Department, is and author of The Idea of Pakistan.

Guests:
Stephen Philip Cohen, Senior Fellow, Brookings Institution

The Idea of Pakistan

Stephen Cohen

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