Hosts Abe Proctor and Joe Uris cover the entire political spectrum, with today's show centered around Racism in the 2008 Elections (and our culture in general), how off-shore drilling is more smokescreen than solution to our energy problems, and they introduce the concept of the "New Capitalism" for later discussion.

On the  Aug 14, Thursday, 10 am Radiozine, Michelle Schroeder Fletcher interviews Thomas Frank, the author of What's the Matter with Kansas.  They discuss his new book, The Wrecking Crew, in which Frank examines the blundering and corrupt Washington created by politicians who reserve their favors for the rich.

Was Oregon's economy in trouble even before the sub-prime meltdown? That's what new numbers from the U.S. Census Bureau say. Despite record-breaking economic expansion before the current downturn, most Oregonians' incomes have remained flat since 2000. Poverty and lack of health insurance or other problems that did not improve during the boom. What did Oregon leaders fail to do? How well are Oregonians equipped to face an economy that continues to falter? What strategy should our legislature and governor consider to turn things around? Jo Ann and Dave  talk with Mike Leachman, policy analyst with the Oregon Center for Public Policy about these and other questions.

Following last week's takeover of the nation's two largest mortgage companies, other major financial players are beginning to collapse.  Over the weekend, Lehman Brothers, followed by Merrill Lynch, became the latest companies to succumb to the growing crisis on Wall Street.
KBOO's Spencer Raymond gave a commentary on this morning's Air Cascadia on some of the reasons for the current crisis:

On the Sept 18 Presswatch, Theresa Mitchell explores the news you're not supposed to know and takes a look at how the government is handling  the worst crisis facing the financial markets since the 1920's.

Economist John Miller, who writes for Dollars & Sense and teaches at  Wheaton College, talks  with the Old Mole's Bill Resnick about the  current financial crisis, where it's heading, and what  progressives should be demanding. 

Tom Becker reads  from two pieces on the bailout of  finance capital by the tax payers by William Greider, economic analyst for The Nation.   You can find the  original  articles here and here. 

 Panic in Financial Land

Now we go to KBOO's Jenka Soderberg, who spoke by phone with our Washington DC correspondent Spencer Raymond. 
He addresses the financial crisis, and the bailout proposed by Treasury Secretary Henry Paulsen, the Ted Stevens trial, and recent allegations about McCain's campaign advisor:

The debate over the Bush Administration's 700 Billion dollar bail-out plan reached a new level on Capital Hill today.
Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulsen sat in front of the Senate Banking committee asking for the authority to institute what is becoming the largest financial assistant package ever.
But, both sides of the isle are very skeptical.
With more, KBOO's Spencer Raymond reports from the Capital.

Oregon representative Peter DeFazio spoke this morning on KBOO’s Air Cascadia about the proposed government bailout of the financial industry.

 Hosts Abe Proctor and Joe Uris talk about the Trillion Dollar Bail Out being hammered out (and on) in Congress.  Is it a good thing?  Is it a bad thing?  Is a taxpayer-funded bail-out option for failed speculators an integral part of Capitalism?  Should it be?  Listeners weigh in...

Why this financial crisis?  Is it real?  Mark Engler is a financial analyst with Foreign Policy in Focus and frequent contributor to several publications.  He talks with the Old Mole's Bill Resnick about where things stand and how they got there.  Engler is the author of HOW TO RULE THE WORLD: The Coming Battle Over the Global Economy.

A special one-hour Membership Drive Edition on the financial crisis. Theresa interviews Robin Hahnel, professor emeritus of economics at American University and currently visiting at Portland State University. Hahnel's most recent books are "Panic Rules!: Everything You Need to Know About the Global Economy," "The ABCs of Political Economy: A Modern Approach," and "Economic Justice and Democracy: From Competition to Cooperation."
 

An Interview with Campaign for America's Future's Bill Scher: The Bush administration says it needs $700 billion to avert the current financial crisis from turning into a global depression. Taxpayers see this as another use of their money to protect the wealthy. Congress is caught in the middle, trying to come up with a plan that will stop a financial meltdown without turning voters against. them.

What exactly does need to be done about the collapse on the Wall Street? Will the administration's plan help or hurt the situation? Jo Ann and Dave talk with Bill Scher of Campaign for America's Future, a non-profit organization advocating progressive solutions to the nation's problems.

The Apollo Alliance has an affordable plan to restart the economy with plenty of living-wage jobs cleaning up our environment and keeping it clean.  Kate Gordon, co-director of the Apollo Alliance, talks with the Old Mole's Bill Resnick.  

Guest host Dave Mazza talks with former New York Times investigative journalist David Cay Johnston about his latest book, Free Lunch. Johnston's recent work explores the impacts of three decades of deregulation on the economy and how taxpayers are paying the cost for corporate socialism.