With the United States facing the greatest financial crisis since the Great Depression, the presidential campaign has finally been forced to get real. So what do the candidates have on offer?
The Paulson Plan appears to be a bail out of Wall Street, more YOYO (you’re on your own) economics for Main Street. Socialization of debt, while maintaining privatized profit.
Will Obama, the candidate of change challenge the fundamentalist free market economics that led to this mess? Can McCain, the fundamental deregulator, reinvent himself as an economic reformer?
Today on GRITtv we discuss the crisis and the bailout with MICHAEL HUDSON, chief economic advisor to Dennis Kucinich’s 2000 presidential campaign and the author of Super Imperialism; ED OTT, Executive Director of the New York City Central Labor Council; MAY CHEN, Executive Vice-President of UNITE HERE; and MAX WOLFF, Professor in the Graduate Program of International Politics at the New School.
We stream live at noon EDT [9 am FDL].
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