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To the Point

The Great Recession and the Erosion of Trust

To the Point

KCRW

News

4.4583 Ratings

🗓️ 20 March 2009

⏱️ 51 minutes

🧾️ Download transcript

Summary

With the onslaught of the Great Recession, public confidence has all but evaporated in money managers, investment advisors and financial institutions, public and private.  We ask a variety of observers, who can you trust now? Also, President Obama reaches out to Iran, and General Scott Gration will be Obama's special envoy to Darfur.

Transcript

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0:00.0

From PRI, Public Radio International and KCRW Santa Monica, this is To the Point.

0:07.3

The Great Recession and the erosion of trust.

0:13.6

Hello again, I'm Aronaldi, and this is To the Point from Public Radio International,

0:17.5

the daily look at the issues Americans care about most.

0:20.3

News coverage of AIG bonuses,

0:22.3

Bernie Madoff, CNBC's, Jim Kramer, and Treasury Secretaries with ties to Wall Street has been relentless.

0:28.7

Public confidence in banks, insurance companies, money managers, and financial reporters has sunk to an all-time low.

0:35.5

Searching for safe, reliable investments not dependent on government,

0:39.4

Americans bought 600 tons of gold last year,

0:42.8

a 42% increase over the year before.

0:45.6

The rest are stuck with a troubling question.

0:47.4

Who can you trust with the money you have left

0:49.5

as the financial bloodbath continues?

0:52.1

We'll hear some answers.

0:52.9

On reporter's notebook later, President

0:54.7

Obama's special envoy for Dorf 4. First, the news.

1:00.0

Support for To the Point comes from subscribers of KCRW Santa Monica and from the Public Radio

1:05.4

International Program Fund, whose contributors include the Ford Foundation, the John

1:10.0

D. and Catherine T. McArthur Foundation,

1:12.2

and the Scholl Foundation, supporting social entrepreneurs around the world, uncommon heroes dedicated

1:18.0

to the common good. Learn more at scole.org. Hello again, Warren Alney, back with To the Point.

1:23.8

With the onslaught of the Great Recession, public confidence has all but evaporated in money managers, investment advisors, and financial institutions, both public and private.

...

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