A new 'national bank' plan by the Federal Reserve will allow the government to lend out up to 800 billion more dollars to banks and businesses.
This is just the latest attempt to bail out the failing financial system in the US.
KBOO's Jenka Soderberg spoke with Mark Weisbrot of the Center for Economic and Policy Research about the economic crisis, and Obama's planned response.
Governor Ted Kulongoski unveils his budget on Monday, December 1, and already, rumors suggest it will include across-the-board trim for state departments, reflecting the economic downturn.
But with unemployment and use of social services at record highs in Oregon, charitable organizations say it’s no time for cutbacks in the types of assistance that keep vulnerable families afloat, and could help the economy as well.
Crystal Leighty has more, in collaboration with the Oregon News Service:
Host Dennis Bernstein speaks with Max Fraad Wolff, an instructor at the New School University and a frequent contributor to Huffington Post, Asia Times and The Indypendent, about Barack Obama's new economic team and the bailout. He also speaks with former D.E.A. agent Michael Levine, author of Deep Cover, about the jailing of former agent and whistleblower Cele Castillo (SELL-ee Cas-TEE-oh).
Raj Patel - Stuffed & Starved (lecture)
Raj Patel, writer, activist and former policy analyst with Food First, is a visiting scholar at the Center for African Studies at UC Berkeley. He has worked for the World Bank, the WTO, and the United Nations, and has also protested them on four continents. He is the author of "Stuffed and Starved: The Hidden Battle for the World Food System." Patel is also currently a Fellow at the Institute of Food and Development Policy and a Research Associate at the School of Development Studies at the University of KwaZulu-Natal.