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FROM THIS EPISODE

Secretary of the Treasury Henry Paulson got a Senate grilling today on President Bush's $700 federal bailout of the financial system. The President says the whole world is watching to see if Congress will buy the massive bailout. Also, President Bush made his last address to the UN General Assembly today and Governor Sarah Palin met her first heads of state. 


Banner image: Secretary Henry Paulson

A World of Wealth

Thomas Donlan

Producers:
Christian Bordal
Sonya Geis
Katie Cooper
Karen Radziner

Making News Senate Grills Paulson on Bailout Plan 6 MIN, 13 SEC

The Senate Banking Committee today heard an urgent plea from Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. Bail out Wall Street or see the US economy go down the tubes. They got the kinds of questions being asked by ordinary Americans. Carefully watching today's proceedings is Kevin Hall, national economics correspondent for the McClatchy Newspapers.

Guests:
Kevin Hall, McClatchy Newspapers (@KevinGHall)

Rational Exuberance

Michael Mandel

Reporter's Notebook Economic Crisis Overshadows Bush's Final Address to UN 8 MIN, 12 SEC

bush_at_un.jpgWith the world focused on America's financial crisis, President Bush today made his last address to the United Nations General Assembly. Secretary General Ban Ki-moon told the Assembly that the "global financial crisis is endangering" the UN's efforts to combat poverty and deal with global warming. At the same time, the McCain campaign ran into trouble from political reporters over coverage of Alaska Governor Sarah Palin's meetings with heads of state.

Guests:
Elizabeth Holmes, Political Reporter, Wall Street Journal
Colum Lynch, Foreign Policy Magazine (@columlynch)

Main Topic Prospects for a Federal Bailout of the Financial System 34 MIN, 34 SEC

world_of_wealth.jpgThe architects of the Bush Administration's financial bailout got a public grilling today from the Senate Banking Committee. Senators wanted to know why they're getting less than a week to give up $700 billion in taxpayers' money. Would reckless investors get off lightly? rational_exuberance.jpgWould Treasury Secretary Henry Paulson have too much power? What about Congressional oversight? Why couldn't the crisis have been foreseen and prevented, and is there any assurance that the massive bailout will really work? We hear more about the questions and the answers. 

Guests:
Vikas Bajaj, Business Reporter for the New York Times
Michael Mandel, Editor in Chief, Visible Economy
Tom Donlan, Barron's (@barronsonline)
Christian Weller, Senior Fellow, Center for American Progress

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