The Financial Crisis, Foreign Policy and the Presidential Campaign

Making News

Another Bank Implodes as Wall Street Waits on Washington ()

Last night saw the biggest bank failure in American history. Washington Mutual Savings and Loan was seized by the federal government and immediately sold to JP Morgan Chase for $1.9 billion. Daniel Gross is a senior editor at Newsweek magazine, where he writes the Contrary Indicator column.  He also writes Moneybox for Slate.com.

Guests:

• Daniel Gross: Columnist, Newsweek and Slate, @grossdm

Main Topic

The Financial Crisis and the Presidential Campaign ()

With Washington Mutual the latest Wall Street domino to fall, Democrats blame John McCain for urging House Republicans to hold up the taxpayer bailout. President Bush says it just has to happen, but it's unclear if McCain wants to kill the highly unpopular measure or broker a compromise. Meantime, McCain has left Washington for Mississippi, where Barack Obama will meet him to debate foreign policy. We update the financial crisis and the political drama.

Guests:

• Kevin Hall: National Economics Correspondent, McClatchy Newspapers, @KevinGHall
• John Cassidy: Staff Writer, New Yorker, @TNYJohnCassidy
• Matt Welch: Editor in Chief, Reason magazine
• David Von Drehle: Editor-at-Large, Time Magazine

Links:

• Von Drehle's article on economic leadership styles of McCain and Obama
• Hall's article on economists' views of the bailout
• Cassidy's article on the financial crisis and the election

Reporter's Notebook

Foreign Policy and Tonight's Debate ()

Both Barack Obama and John McCain have now indicated they will show up tonight to debate foreign policy at the University of Mississippi.  What are the voters learning about the styles and approaches of McCain and Obama? What are their differences and similarities on dealing with Russia, North Korea, Iran and the wars in Iraq and Afghanistan?

Guests:

• Leslie Gelb: President Emeritus, Council on Foreign Relations
• Nile Gardiner: former Advisor to Rudy Giuliani
• James Rubin: former Foreign Policy Advisor, Joe Biden