Money for Nothing
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On Money for Nothing, we start off the week by looking at market reaction to President Obama's job speech last Thursday. Then we'll ask Laurence Kotlikoff, Professor of Economics at Boston University whether he thinks that the U.S. is facing bankruptcy. Finally, we investigate the top picks in California wine with Toby Marion of Golden Gate Wine.(Mon~Fri 8am-8.30am)
8.05 am - How ugly could Europe's economic situation get?
Guest host Puru Saxena say that regardless of bailout or default, the imminent future looks worse than the days post Lehman Brothers' collapse.
And don't miss Omid Malekan's eery video that is entirely on the mark:
8.12 am - Limited Purpose Banking
"There is a firewall around every single mutual fund whereas the current banking system has firelanes of gasoline connecting each institution. " ------ Laurence Kotlikoff, Professor of Economics at Boston University.
Professor Kotlikoff insists that in order to fix the global problem we need to change financial institutions to operate as mutual funds; that banks need to have limits that do not allow them to gamble.
8.23 am -"Is wine to be looked upon as "pleasure" or as an asset class?
Toby Marion, owner of Golden Gate Wine gives us his view.