Democracy Now with audio and video:
On Monday, the House voted 228 to 205 against authorizing the largest government intervention in the financial market in U.S. history. The measure would have granted the Treasury unprecedented authority and up to $700 billion dollars to relieve faltering banks and other firms of bad assets backed by home mortgages, which are falling into foreclosure at record rates. As the economic crisis worsens and spreads across the globe we speak with Robert Johnson, former chief economist of the Senate Banking Committee and Bruce Marks, the Founder and CEO of NACA, the Neighborhood Assistance Corporation of America.
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