Congress Reverses Itself, Bailout Goes to the White House
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Congress has reversed itself and passed what's now called "economic rescue." We talk about what that could mean for the credit crunch and the crisis in housing. Also, an assessment of Sarah Palin and Joe Biden's performances in last night's debate, and Canadian writer Margaret Atwood talks about debt as the subject of literature.
Banner image: (L-R) House Minority Leader Rep. John Boehner (R-OH) and Minority Whip Rep. Roy Blunt (R-MO). Photo by Alex Wong/Getty Images
Is the Economy Grinding to a Halt? ()
As Congress was debating the rescue, there was more bad news about the economy. Heidi Moore is lead writer for the Deal Journal blog at the Wall Street Journal.
The Biden-Palin Debate ()
Last night's vice-presidential debate will be old news by Tuesday, when John McCain and Barack Obama face off again. In the meantime, both national campaigns are breathing sighs of relief after neither Sarah Palin nor Joe Biden made a major mistake. For both sides that's good news of a kind. We hear excerpts and compare performances with expectations.
- Kathryn Jean Lopez: Editor, National Review Online
- Jonathan Raban: journalist and author
- Ross Douthat: Senior Editor, The Atlantic, @DouthatNYT
Bailout Bill Goes to the White House ()
Congress reconsidered what's now called the "economic rescue" plan amid dismal news about employment and California's need for a big federal loan. Today the bailout passed by 263 to 171. Saying that passage of the bill won't get us out of the recession, Republican leader John Boehner admitted that "it'll be a whole lot rougher ride if we don't pass this bill." Democrat Nancy Pelosi, the House Speaker, acknowledged that in "my own state of California, officials -- including the governor -- are urgently calling for federal legislation to avoid economic catastrophe." Will the bill resolve the credit crisis? Will taxpayers make money on a $700 billion investment? We ask those questions today.
- Richard Rubin: Economics Reporter, CQPolitics.com
- Steven Davidoff: Professor, Connecticut School of Law
- Robert Reichh: University of California, Berkeley, @RBReich
A 'Novel' Approach to Debt ()
Personal finance and economic upheaval might not sound like subjects for literature. But one of Canada's best-known novelists and poets says that 19th century romance novels, just for example, are really about money. Margaret Atwood's novels, poems and essays have brought her many awards and millions of readers. Her books include Cat's Eye, The Blind Assassin and The Handmaid's Tale. Payback: Debt and the Shadow Side of Wealth, which will be released next week, is also the title of a series of lectures.
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