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Financial Meltdown Topics

Democracy Now! stories, posts and pages that relate to Financial Meltdown

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  • We now move three-quarters of a century back in time to 1933. It was the middle of an era that our current moment is sometimes compared to: the Great Depression. When Franklin Delano Roosevelt took his oath of office in March of that year, over 10,000 banks had collapsed, following the stock market crash of 1929. One-quarter of American workers were unemployed, and people were fighting over scraps of food. We play an excerpt of FDR’s...
    September 29, 2008 | Story
  • The nation’s financial crisis has intensified as federal regulators seized Washington Mutual on Thursday in what is the largest bank failure in American history. Federal regulators have arranged to sell off most of the bank at a bargain rate to JPMorgan Chase. We get analysis from New York Times columnist Paul Krugman and economics professor Michael Zweig. [includes rush transcript]
    September 26, 2008 | Story
  • As President Bush was holding an emergency economic summit at the White House, protesters took to the streets across the country to oppose a Wall Street bailout. In New York, a series of demonstrations occurred near the Stock Exchange. [includes rush transcript]
    September 26, 2008 | Story
  • As the Bush administration intensifies its pressure for Congress to quickly approve a $700 billion bailout of the financial industry, we get reaction from Independent presidential candidate and consumer advocate Ralph Nader. Nader calls Democratic claims of White House concessions "wish fulfillment" and says the bailout might not be needed in the first place. [includes rush transcript]
    September 25, 2008 | Story
  • Among the more than 100 protests against the $700 bailout plan is a rally today on Wall Street. We speak to Arun Gupta, a reporter/editor at The Indypendent newspaper, whose email to friends and colleagues helped inspire the protest. Participants are planning on bringing their own personal, unwanted "junk" to illustrate what they call the federal bailout of Wall Street’s worthless securities. [includes rush transcript]
    September 25, 2008 | Story
  • Both Democratic and Republican members of the Senate Banking Committee lambasted the Bush administration’s proposed $700 billion bailout plan Tuesday. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke repeatedly clashed with almost every senator on the committee, all of whom focused on Wall Street’s culpability for the crisis. Many also brought up executive pay and emphasized the need for oversight of the...
    September 24, 2008 | Story
  • While the collapse of this country’s financial system continues to send shock waves around the world, we speak to the bestselling author of The Shock Doctrine. Naomi Klein says the public should be wary of the Bush administration trying to use the crisis to push through more of the radical pro-corporate policies that helped cause it in the first place. [includes rush transcript]
    September 24, 2008 | Story
  • It’s being described as the largest government intervention in private markets since the Great Depression. The Bush administration has asked Congress to swiftly approve a massive $700 billion package to rescue the crippled financial institutions on Wall Street. Some analysts say the final cost to taxpayers could top one trillion dollars. Over the weekend, the size of the proposed bailout grew as the Bush administration said foreign...
    September 22, 2008 | Story
  • While the press has extensively covered the Wall Street meltdown, little attention has been paid to what this means to the American worker. We speak to longtime labor activist and writer Bill Fletcher, co-author with Fernando Gapasin of the new book Solidarity Divided: The Crisis in Organized Labor and a New Path toward Social Justice. Fletcher is the executive editor of BlackCommentator.com and the former president of TransAfrica Forum....
    September 19, 2008 | Story
  • The Democratic National Committee and the Obama campaign have filed a federal lawsuit to block a controversial voter suppression tactic in Michigan. The Michigan Messenger reported this week that the chairman of the Republican Party in Macomb County is planning to use a list of foreclosed homes to block people from voting in the upcoming election as part of a Republican effort to challenge some voters on Election Day. [includes rush...
    September 18, 2008 | Story