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Financial Meltdown Topics

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

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  • President Obama is nominating Federal Reserve Chair Ben Bernanke to a second term today because of his attempts to combat the financial crisis and the recession. Last week, Bernanke gave his most positive assessment of the economy yet, saying, "the prospects for a return to growth in the near term appear good." We speak with economist Max Fraad Wolff, who cuts through the numbers to expose the deepening long-term inequality in the...
    Aug 25, 2009 | Story
  • A new report by the Center for Public Integrity has found that any of the lenders that helped fuel the housing crisis by issuing risky subprime loans are now lining up to receive more than $21 billion in taxpayer money intended to help bail out borrowers. At least twenty-one out of the top twenty-five participants in the Making Home Affordable program specialized in servicing or originating subprime loans. [includes rush transcript]
    Aug 28, 2009 | Story
  • Up until two years ago, Elizabeth Jacobson was the top producing loan officer in the subprime division at Wells Fargo. Today she is speaking out against the practices of her former company. Earlier this summer, she filed a sworn affidavit with a federal court in support of the city of Baltimore’s lawsuit against Wells Fargo for pushing high-interest, subprime loans onto African Americans in Baltimore and the Maryland suburbs, leading...
    Aug 28, 2009 | Story
  • We speak with Dedrick Muhammad of the Institute for Policy Studies about his latest article with Barbara Ehrenreich called "The Destruction of the Black Middle Class." They write, "For African Americans — and to a large extent, Latinos — the recession is over. It occurred between 2000 and 2007...What’s happening now is a depression." [includes rush transcript]
    Aug 28, 2009 | Story
  • It’s been exactly one year since the onset of the financial crisis and the passage of the Bush administration’s $700 billion bailout of Wall Street. But what were the factors in deciding who received bailout funds? And what happened to all the money? The answer to those two simple questions is: We don’t know. In a new article in Vanity Fair, the Pulitzer Prize-winning investigative team Donald Barlett and James Steele try to...
    Sep 10, 2009 | Story
  • President Obama visited Wall Street Monday to promote a regulatory overhaul of the US financial system. The visit came on the one-year anniversary of the collapse of the investment bank Lehman Brothers. Lehman’s bankruptcy set off a series of events across the financial markets, leading to a full-scale economic meltdown. Speaking at Federal Hall, Obama promoted Democratic proposals for new financial oversight and a consumer protection...
    Sep 15, 2009 | Story
  • While Wall Street appears to be recovering from the financial meltdown, Main Street has not. We speak to two guests who for decades have advocated for a radical rethinking of how the nation’s economy is structured: Grace Lee Boggs, a ninety-four-year-old Detroit-based philosopher and activist involved with the civil rights, Black Power, labor, environmental justice, and feminist movements for the past seven decades; and John Bellamy...
    Sep 17, 2009 | Story
  • As the United States prepares to host the Group of Twenty nations summit in Pittsburgh later this week, we speak with longtime consumer advocate, corporate critic, author and presidential candidate Ralph Nader. Nader discusses Congress’s failure to pass any meaningful financial reform on Wall Street over the past year and critiques Obama’s healthcare reform proposal. Ralph Nader also talks about his first work of fiction, ...
    Sep 21, 2009 | Story
  • Beginning with the 1989 classic Roger & Me, the Academy Award-winning director Michael Moore says his films "come back to this central core concern, which is the economic system we have is unfair, it’s unjust, it’s not democratic." With his new film, Capitalism: A Love Story, Moore tackles the financial system and the interchanging circles of Washington politicians and corporate managers that run it. Moore says,...
    Sep 24, 2009 | Story
  • Zeese-web
    As debate continues over healthcare reform on Capitol Hill, we hear from two groups taking action to call for a single-payer system: Mad As Hell Doctors, who have been driving across the country in the lead-up to a rally tomorrow in Washington, DC, and Mobilization for Health Care for All, which is launching "Patients Not Profit" sit-ins at insurance company offices nationwide. [includes rush transcript]
    Sep 29, 2009 | Story