The Great Recession and the Erosion of Trust
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With the onslaught of the Great Recession, public confidence has all but evaporated in money managers, investment advisors and financial institutions, public and private. We ask a variety of observers, who can you trust now? Also, President Obama reaches out to Iran. On Reporter's Notebook, Obama has chosen a top advisor as his special envoy for Darfur, at a time when almost 5 million people are in greater peril than ever.
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Making News
Obama Sends Video Outreach to Iran on Persian New Year ()
Iran is celebrating the Persian New Year, and President Obama has released a videotaped message to all those celebrating Nowruz, which he called “an ancient ritual and a moment of renewal.” Borzou Daragahi is Middle East Correspondent for the Los Angeles Times.
Guests:
- Borzou Daragahi: Reporter, Los Angeles Times
Main Topic
Who Can We Trust with our Money? ()
News coverage of AIG bonuses, Bernie Madoff, CNBC's Jim Cramer and Treasury secretaries with ties to Wall Street has been relentless. Public confidence in banks, insurance companies, money managers and financial reporters has sunk to an all-time low. Searching for safe, reliable investments -- not dependent on government -- Americans bought 600 tons of gold last year, a 42% increase over the year before. The rest are stuck with a troubling question: who can you trust with the money you have left as the financial bloodbath continues? Is it time for consumers to go it alone?
Guests:
- Ben Popken: Co-Executive Editor, Consumerist.com
- Peter Cohan: President, Peter S. Cohan and Associates
- Peter Morici: Professor of Business and Economics, University of Maryland
- Daniel Newman: Executive Director, MapLight.org
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Reporter's Notebook
Will the US Do Anything about Darfur? ()
Since the International Criminal Court indicted President Omar Hassan al-Bashir for war crimes in Darfur, conditions in the Sudanese region have deteriorated. Five million people there relied on foreign assistance for food, shelter and protection from fighting between rebels and government-backed forces. Humanitarian agencies have been expelled, leaving what President Obama has called “a void that will be filled by deprivation and despair.” Will the President's new special envoy, retired Air Force General Scott Gration, be able to make a difference?
Guests:
- Edmund Sanders: Nairobi Bureau Chief, Los Angeles Times
- John Norris: Executive Director, Enough Project
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