STREAMING LIVE TODAY: Confronting Economic Meltdown


Live Broadcast by Ustream.TV
As previously mentioned, this morning I will be helping to chair a half day conference in the US Senate (Dirksen Senate Office Building, Room 124) on the current economic turmoil. We were able to arrange Live Streaming of the meeting.
This meeting will feature former AT&T Broadband Networks CEO and Obama economic advisor LEO HINDERY, Congressman WALTER JONES (R-NC), former Senator ERNEST “FRITZ” HOLLINGS (D-SC), emerging markets experts and New America Foundation colleagues HEIDI CREBO-REDIKER and DOUGLAS REDIKER, National Journal columnist BRUCE STOKES, Washington Post columnist and American Prospect editor-at-large HAROLD MEYERSON, International Strategy and Investment Group Senior Managing Director and frequent Nightly Business Report guest TOM GALLAGHER, Federal Home Loan Finance Board Member ALLAN MENDELOWITZ, former IBM Director of Research and SVP for Science and Technology RALPH GOMORY, author and Manufacturing Policy Project Director PAT CHOATE, American Way of Strategy author and New America Foundation colleague MICHAEL LIND, New America Foundation Economic Growth Program Director SHERLE SCHWENNINGER, among others.
The program, “Confronting Economic Meltdown” will run from 9 am until 1:45 pm EST and is sponsored by the New America Foundation Smart Globalization Initiative and Next Social Contract Initiative as well as by the Economic Strategy Institute.
Watch if you can. More later.
— Steve Clemons


12 comments on “STREAMING LIVE TODAY: Confronting Economic Meltdown

  1. Judec says:

    I don’t believe most Americans would be comfortable with this. What a nutcase! Rev. Wright is a saint compared with this guy…
    Muthee says:
    –That believers put Bush in office (true).
    –That believers have to “infiltrate” business, education, and government… and that is why we’re praying for Sarah.
    The above is enough to scare me off well before you get near the bit about witchcraft. Yikes!
    We also know that Palin believes the end times are coming during her lifetime… we can not have this woman a button-push away from apocalypse.


  2. dianne says:

    Thx Don for the link. The BBC link and this book shd be everywhere for people to read !


  3. Don Bacon says:

    Gosh, thanks to the Brits for uncovering this.
    Smedley Butler broke up the 1933 coup plans. You can read all about it in this book by Jules Archer.


  4. Don Bacon says:

    Gosh, thanks to the Brits for uncovering this.
    Smedley Butler broke up the 1933 coup plans. You can read all about it in this book by Jules Archer or get summaries here:


  5. dianne says:

    BBC Radio 4 “Document” uncovers details of a planned coup in the USA in 1933 by right-wing American businessmen.
    The coup was aimed at toppling President Franklin D Roosevelt with the help of half-a-million war veterans. The plotters, who were alleged to involve some of the most famous families in America, (owners of Heinz, Birds Eye, Goodtea, Maxwell Hse & George Bush’s Grandfather, Prescott) believed that their country should adopt the policies of Hitler and Mussolini to beat the great depression.
    Mike Thomson investigates why so little is known about this biggest ever peacetime threat to American democracy. ( Played July 2007)
    Assess the connection with today for yourself.


  6. Ajaz says:

    These are my views on the financial bailout that I posted on my blog today:
    Tuesday, September 23, 2008
    The Financial Bailout and its Implications
    Enough has been said already about greed, big salary and bonus payouts to senior executives of banks. The situation is where it is – precarious and needs to be addressed urgently. Treasury Secretary Henry Paulson has been running around for the last couple of weeks trying to avoid a 1929/30 style financial meltdown and all credit to him for his deft handling of the situation so far.
    The current proposal before the Congress is to approve an emergency fund of $800 billion (with no apparent upper limit) to be managed by Treasury Department to buy toxic mortgages and exotic paper from banks for cash in order to provide liquidity to financial institutions. Despite the loud protests of Congress, almost everyone knows that this bill will pass and funds will be made available.
    Congress may wish to place an upper limit, so this does not become an open ended commitment. Paulson himself suggested in the weekend talk show interviews that amount needed could exceed $1 trillion. This is almost equal to the amount spent on Iraq war to date. So wither plans of ending the war to save money to spend on social programs.
    The Congress should also consider putting a mechanism in place that any bank benefiting from this fund will agree to freeze the salaries and bonuses of top 5% executives until such time as the treasury holds their toxic paper. Once the paper is sold, the restriction is lifted. Also, Congress should consider setting up a three member committee of reputable citizens with financial experience who will approve any bonus payments to top 5% executives of banks and financial institutions benefiting from this fund. This may seem draconian, but it is important to give a sense to tax payers that bankers will not start paying themselves huge bonuses until such time as their money is tied up in toxic assets.
    The wider implications of the bailout are much greater. The national debt already ballooning out of control will exceed $11 trillion. No one knows how this will ever be paid down or how many decades it will take to bring it down to the level it was eight years ago. Treasury will probably end up printing more money and that could cause serious inflation, erosion in value of dollar and a possible shift from Dollar to Euro as the world currency. High inflation will result in high wage demands by unions, resulting in even greater inflation, mortgage foreclosures and credit card debt defaults.
    I hope Paulson and Bernanke are considering all those eventualities and are ready to tackle what is to follow.


  7. Andy Devine says:

    Hey POA, yeah, these criminal pieces of crap DO think the American people are so effin’ stupid …. and they are right …….. and “Whaddaya gonna do about it little guy, uh? you gonna have a French Revolution, or something?” Answer: No, you little guys are not; you are gonna take it up the whazoo like you have always taken it, like good little patriotic Americans waving their little American flags ’cause that’s all you really got. The raping continues, pass the vaseline ’round, the American people are broken, ride’em cowboy, Yi-Hi!


  8. Don Bacon says:

    Why cover Bush at the UN? In this hour of need we need the wise counsel of a trusted leader who happens to have a Harvard MBA. Bush recognizes that the enemies are not the ones within, the people who are raiding the US Treasury, but the ones without, the turrists, who must be defeated. “It is the calling of our generation.”
    And while the US national debt soars upward to over $30K for every American man, woman and child, money largely owed to the helpful “Red Chinese,” and the vaunted US military is forever bogged down in failed imperialist ventures, our eyes turn with the help of our trusted leader toward some real success stories (not the ones involving profits gained from the us Treasury), as told to the UN: “Algeria has held its first competitive presidential election, and the military remained neutral. The United Arab Emirates recently announced that half of its seats in the Federal National Council will be chosen by elections. Kuwait held elections in which women were allowed to vote and run for office for the first time. Citizens have voted in municipal elections in Saudi Arabia and parliamentary elections in Jordan and Bahrain and in multiparty presidential elections in Yemen and Egypt.”
    Now that’s vital news you can count on, about Algeria and Kuwait and other important places, and we can count on CNN to bring it to us. After all if we can’t trust the red-white-and-blue government/media team, whom can we trust?


  9. PissedOffAmerican says:

    Spo both sides are blathering about “strong oversight”. By whom? Do these criminal pieces of crap think the American people are so effin’ stupid that we’ll fail to realize that the very people that ripped us off are the same ones that will be providing this “strong oversight”?
    Besides, considering the events of the last eight years, can anyone actually tell me why we should believe one single word that comes out of the mouths of these elitist rich criminal looters?
    Wonderful, isn’t it? Watching the architects of this mess telling us that they’re the very ones that are gonna fix it?


  10. Kathleen says:

    I swtiched all MSM off… it’s gone beyond absrud…I’ve been too profoundly disillusioned to say much these days but did want to pass along this from PEN, the Peoples’ Email Network…
    Tell Congress To Help Homeowners, Not Bail Out Crooked Corporations
    Help Distressed Homeowners Instead Of More Crooked Corporations
    Congress MUST refuse to grant Bush the $700 billion gift he’s asking for. They’ve been frightened and intimidated like they were when Bush threatened them with the blame if Saddam used WMDs – when they approved Bush’s request for permission to go to war. Not This Time!
    The Democratic leaders must take control and demand that fresh, strong economists look at the “financial meltdown disaster capitalism stories” Paulson and Bernanke are selling and they must not allow themselves to be stampeded into passing legislation like they did when they allowed Bush to take us into war.
    Any legislation passed must instead DIRECTLY assist the American homeowners who are the ultimate victims of the mortgage and housing economic problems facing America, for that is the real and only way to save the banks as well.
    Action Page:
    And after you submit the action page above to send your message to all your members of Congress at the same time, you can watch the new impeachment play for free on the return page, and request a copy of the actual DVD if you have not done so already. And there is no donation required, so every progressive at heart needs to have one.
    How about this? People must have an opportunity to refinance their homes at what they are REALLY worth, for otherwise they will just be sold at an every GREATER loss to the American taxpayer. But if we can keep them in their houses we can save the whole economy at the same time. And if the homes then appreciate again, the U.S. taxpayer gets to recoup the balance in some way. Is that a fair proposal or not?
    We need to tell the leaders of congress and our own legislators that we’re watching them. We remember how they failed us before the Iraq war and we won’t let it happen again.
    OpedNews, the premier source of progressive opinion and news, is getting a bumper crop of article submissions on this issue right now. Here are some of their hottest stories. We need all of our blogger participants to talk these issues up on their blogs and propagate the links below also.
    WMDs and Financial Meltdown — Related Threats? Related Dem Congress Failure?
    Welcome to the final stages of the coup…
    Sen. Bernie Sanders: Billions for Bailouts! Who Pays?
    THROW Them Out Don’t Bail Them Out
    The Point of No Return
    Rob Kall: How Dare They Spend Trillions on Corporate Welfare, Without…?
    Please take action NOW, so we can win all victories that are supposed to be ours, and forward this alert as widely as possible.
    If you would like to get alerts like these, you can do so at
    Or if you want to cease receiving our messages, just use the function at
    Powered by The People’s Email Network
    Copyright 2008, Patent pending, All rights reserved


  11. PissedOffAmerican says:

    Why in God’s name would CNN switch from the hearings on the “bail-out” to covering this embarrassing buffoon Bush making an ass of himself before the UN?


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