FROM Christian Weller
Prospects for a Federal Bailout of the Financial System The 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? Would 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.
Our Ever Rising Gas Prices Oil prices are very much on the rise, but gasoline has not yet caught up. When it does, $4 a gallon may sound like the good old days. President Bush says there's no "magic wand" for the government, but the candidates to replace him have other ideas. John McCain and Hillary Clinton want a summer holiday on the federal gasoline tax. Barack Obama calls that a "gimmick" that could make matters worse. We look at their different proposals. Should gasoline taxes actually be higher to encourage conservation, something they all support? Is this the just beginning of "painful adjustments" to new, global realities?
New Report Details the Pain Rising Gas Prices Are Inflicting What’s the “tipping point” for gasoline prices—the amount that will cause drivers to really cut back on using the car? A Washington Post-ABC News poll says is $4.38 cents a gallon in most of the country and $5.12 in the west, where prices are higher.
Nuclear crisis on the Korean Peninsula slowly coming to a head North Korea did not conduct a nuclear test this weekend, but it did show apparent progress in developing a missile that that could strike the United States. The Trump Administration says it has lost its "strategic patience." We hear what that might -- or might not -- mean for North Korea, China and the prospects for diplomacy.
After Syria strike a new Trump doctrine emerges The President who promised an end to entanglements in the Middle East and snuggled up to Vladimir Putin has now outraged Russia with surprise missile attacks on Syria. That's raised questions about who's running the White House? We hear a variety of answers.