Sunday, October 12, 2008
Below are excerpts from this week's Talk Talk, What Crashed?. Every Sunday CUIP's president Jacqueline Salit and strategist and philosopher Fred Newman watch the political talk shows and discuss them. Here are excerpts from their dialogue on Sunday, October 12, 2008 after watching "The Chris Matthews Show", "The McLaughlin Group" and "This Week with George Stephanopoulos."
Salit: So, what "crashed" - on this view - is the relationship between the activity of the financial markets and the "real" growth of the economy.
Newman: That gap just got stretched out too far. This is perhaps a simple-minded characterization, but it seems to me that Wall Street is supposed to maintain some degree of balance or concern, even in a self-regulatory way, between how it's creating wealth and how the society overall is creating value.
Salit: But they didn't.
Read Talk Talk in its entirety here.