Latest On The Economy; Supreme Court Preview; Collision of Myths
Latest On The Economy
The Federal Reserve is poised to start buying up billions and perhaps more than a trillion dollars in commercial debt. Yesterday the New York stock market dropped below 10,000. Meanwhile, the crisis continues to spread overseas. The Russians are lending $37 billion to their banks. Many European governments are guaranteeing deposits to stave off a rush on banks, Japan is expanding a stimulus package, and Australia is cutting interest rates. What's the latest in the markets? And what will it take to push the world economy back from the precipice? Larry talks with David Gaffen, Wall Street Journal "MarketBeat" columnist and James Wilcox, Professor of Financial Institutions, Berkeley's Haas School of Business.
Supreme Court Preview
The United States Supreme Court has begun its new term, turning down hundreds of appeals in its first day. The Court's also heard arguments in its first case: Altria Group, Inc. v. Good. The outcome of this case will determine whether federal law prevents smokers from suing tobacco companies for their marketing of light cigarettes. Last term, the justices handed down several opinions that limited state regulation of business in favor of federal power. Larry Mantle talks with Chapman University School of Law dean John Eastman and University of California Irvine School of Law dean Erwin Chemerinsky cases the Justices will hear this term, as well as what the high Court declined to hear.
Collision of Myths
What American myths do Presidential candidates Barack Obama and John McCain embody? And how do those myths collide? Larry talks with Todd Gitlin, a professor of journalism and sociology at Columbia University, about the aspects of this campaign that go deeper than the slogans, strategies and attacks.