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The Sound of Ideas

Bailout Update

Posted Monday, September 29, 2008

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Congressional leaders and the President are onboard for a bailout of Wall Street but will the House go along? The $700 billion plan finalized over the weekend is set for a vote today. It includes less money for the government to buy bad mortgages, at least initially; it contains restrictions on "golden parachutes" for executives and higher taxes for failing corporations who pay their top executives more than $500,000 a year; the Treasury will be in charge of the plan but with a bipartisan congressional commission looking over its shoulder. Still the deal faces opposition from some House Republicans and some Democrats who say the free market should not be propped up by taxpayers. Two economists from NE Ohio will help us decipher the deal and explain what it means for Main Street and ordinary Americans who are now being asked to foot the bill of the worst U.S. financial disaster since the Great Depression. Join the conversation - on The Sound of Ideas®.

Tags

Economy, Facing the Mortgage Crisis, Making Change, Regional Economy/Business - Analysis and Trends, Regional Economy/Business - News, Government/Politics

Guests

Kevin Jacques, Boynton D. Murch Chair in Finance and Associate Professor, Baldwin Wallace College
Raj Aggarwal, Professor of Finance and Dean, College of Business Administration, The University of Akron

Additional Information

How Good Banks Go Bad: Teresa Dixon Murray's Money Matters, The Plain Dealer
Shock Forced Paulson's Hand, The Wall Street Journal
America's Bail-out Plan: The Doctors' Bill, Economist.com
U.S. Senate Committee on Banking, Housing and Urban Affairs

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Every weekday at 9:00 AM (EST), The Sound of Ideas reports the news, explains the news, and sometimes makes news. The Cleveland Press Club awarded it “Best Radio Show” in Ohio and thousands daily find it to be an indispensable source of information about what’s most important to Northeast Ohioans.

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