October 10, 2008. Posted by Simon Rentner.
It's the greatest financial crises of our lifetime
Lets take a look back at the time line
September 7th Fannie Mae and Freddie Mac
Mortgage giants fall on taxpayer’s backs
September 11th Lehman brothers unsure of their fate
September 15th the biggest bankruptcy in the history of the United States
Leads to feverish negotiations no takers leaves massive job shake ups
September 16th AIG major American Insurance Corporation facing failure
Feds say it could be devastating
85 billion emergency loans
Former CEO calls it nationalization
On September 19th in the face of economic threat
Bush proposes a plan to buy toxic debt
Treasury Secretary Paulson holds a meeting to confront congress doubt
This plan becomes known as The Bail Out
September 21st in the economic storm
Goldman Sachs and Morgan Stanley transform
Into bank holding companies
Bernanke and Paulson testify on Capitol Hill
To push this bailout bill
September 24th to 27th
Bush calls on Obama and McCain plus congressional leaders
To hammer out legislation for rescue procedures
September 26th WaMu absorbed by Chase
September 29th Wachovia also effected
Citigroup steps in while the bailout is rejected
That same day the news doesn’t stop
Dow has the largest one day point drop
"World on the edge of the abyss" warns French premier
In France the recession is clear
In the oil boom of Dubai
As stocks crash
California is running out of cash
Paralyzed credit markets
Arnold needs emergency loan 7 billion fast
Canada housing prices on smash
As our nation bails out debts
People are abandoning their pets
Loosing housing and living in tents
Tent cites like shantytowns of the great depression
Car sales plummet, airline traffic lessens
Consumer spending unstable
Restaurants struggle to fill tables
Now customers eating at Subway
Saying that they got bills to pay
The global crisis expands
National bankruptcy looming in Iceland?
Now mad at the money it’s a no brainer
Time to get out the stock market says Cramer
Money on the run
Old folks losing their retirement funds
Commercial paper, frozen cash
Businesses lose their liquid stash
The Bail Out is passed
Excitement in downtown New York
But was it held hostage for pork?
Wooden arrows and racing track facilities
Easing Exxon's tax liabilities
Rebate for rum imported from Puerto Rico
Global recession from Russia to Cairo
How low will the stock market go?
Will the next president take us out the hole?
Obama and regulation you know he's recommending
McCain wants to cut that earmark spending
Obama wants to tax the rich
McCain doesn't want the tax code to switch
Now who are we going to trust?
We need to have confidence in us
Otherwise we are on the path to bust
Written and performed by Baba Israel
Produced by Simon Rentner
© 2008 WBGO
October 9, 2008. Posted by Joshua Jackson.
Listen to the archived set from WBGO.
Read the live blog.
Listen to an interview with Bill Charlap.
Hear Bill Charlap play Shuffle.
Check out the complete concert series archive on NPR Music.
Become a WBGO member.
© 2008 WBGO
October 2, 2008. Posted by Joshua Jackson.
Live at the Village Vanguard continues on Wednesday, October 8th at 9pm. Pianist Bill Charlap leads his versatile trio featuring Peter Washington on bass and drummer Kenny Washington. They've played together for more than a decade now, which basically means two things - 1) They must like each other 2) They have created a trio sound akin to a Vulcan mind meld.
So join us on the air, on line, or in the club. Wednesday, October 8th.
Meanwhile, watch the trio performing at the Vanguard in 2004.
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© 2008 WBGO