August 24 - Markets Around the World Plunge; Retirement Accounts at Risk on the Stock Exchange; Police as Guardians of Communities, Not Warriors Against Crime

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Part 1

We begin with stock markets around the world tumbling today following what is being called Black Monday on the Shanghai exchange, after which as the opening bell sounded, the New York Stock Exchange plunged over 1,000 points in its biggest nosedive ever, as the DAX, the FTSE and other markets around the world also tanked. A former investment banker at Goldman Sachs, Wallace Turbeville joins us to discuss the global contagion of falling prices as investors hedge against predictions of slower growth in China that is driving down oil prices and raising concerns about China’s economic stability.

 

Part 2

Then we look into the consequences for the millions of Americans with 401(k) retirement accounts that are subject to the turbulence of the stock market since for the past 30 years corporate America has shed itself of the more stable and secure defined benefit pensions obligation and rewarded Wall Street who charge higher fees while delivering lower returns with vulnerable 401 (k) plans. Scott Klinger, the Director of Revenue and Spending Policies at the Center for Effective Government who previously worked as a security analyst and portfolio manager for Walden Asset Management, joins us to discuss how American’s retirement security was gutted by moving workers into privatized 401 (k)-style accounts.

Part 3

Then finally with the recent announcement by the Los Angeles Police Department that its officers should no longer see themselves as warriors against crime but as guardians watching over communities, we speak with award-winning investigative journalist and author Joe DomanickHe is the Associate Director of the Center on Media, Crime and Justice at the John Jay College of Criminal Justice and we discuss the rash of police shooting and the cries for justice from groups like “Black Lives Matter” in the context of police reform and his latest book, “Blue: The LAPD and the Battle to Redeem American Policing”.

 

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