Wall Street, Main Street and Economic Crisis

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The finger of blame for the worst economic mess since the Great Depression has been pointed mainly at Wall Street, but what about Main Street, where ordinary Americans were living on credit cards and subprime mortgages, borrowed money might never pay back? The Christmas season was as dismal as had been expected?  On this archived discussion of To the Point, it's worth asking, as we did in October, about economic recovery. Does China's high savings rate and few credit cards offer a better model?  Will the crisis change America's values?

Credits

Guests:
Linda Chavez - Center for Equal Opportunity, Dean Calbreath - Business reporter and Columnist, San Diego Union-Tribune, Brian Wesbury - Chief Economist, First Trust Advisors, Lisa Chow - Economics Reporter, WNYC radio, John Willman - UK Business Editor, Financial Times

Host:
Warren Olney

Producer:
Karen Radziner