FROM Bill Emmott
The End of Capitalism? What may become the government's biggest intervention into American business is being engineered by an administration that has championed a hands-off approach to the economy. But President Bush says the government needs to rescue the economy by buying up the bad debts of banks, Wall Street brokerages and other financial players. Congress had been planning to go home next week to campaign for re-election, but leaders of both parties have agreed to take up the bailout proposal as soon as this weekend. Time magazine calls it " the mother of all bailouts ," and stock markets around the world jumped at the prospect of hundreds of billions of taxpayer dollars. But a lot of questions remain. Will it reward those who made bad investments? Will it protect home ownership, retirement plans and personal savings? Where will the money come from? Will it tie the hands of government for years to come? Will Congress go along? What does intervention so massive mean for free-market capitalism?
Is the US Leading the Way to a Global Recession? The International Monetary Fund says America's financial crisis is so bad it will damage the rest of the world -- except for the Middle East and Asia. This as finance ministers from the major industrialized countries have gathered in Washington to figure out what to do. Not everybody's as pessimistic as the IMF , but nobody doubts that there's trouble ahead. Is the global economy faced with another Great Depression? How worried should Americans be? What should be done, and will there be winners as well as losers, both at home and abroad?
Human Rights in the era of Donald Trump President Trump’s UN Ambassador, Nikki Haley, said today the US might pull out of the United Nations’ Human Rights Council. Serious violators of human rights are members of the Council itself–and a US resignation could make things worse. Later on today’s show, now that he’s into his second term, comedian turned US Senator Al Franken is telling jokes again.