September 17, 2008

On September 7th, 2008, the federal government announced a takeover of Fannie Mae and Freddie Mac in a disturbing – if not entirely surprising – demonstration of the restructuring the financial industry has undergone in the wake of the subprime mortgage crisis.

On our show today, we talked about the roots of this crisis and debate what the path the financial industry needs to take now.

We opened with an in-studio panel consisting of Dr. Bala Subrmaian, Professor of Business at Morgan State University; Robert Strupp, Director of Research & Policy at the Community Law Center; and Dr. Steve Isberg, associate professor of Finance at the Universty of Baltimore and Senior Research Fellow at the Credit Research Foundation.

In the second half, we spoke on the phone to John Gapper, associate editor and chief business Commentator of the Financial Times and Robert Creamer, founder of the Strategic Consulting Group, author of Stand Up Straight: How Progressives Can Win, and a well known blogger for the Huffington Post.