August 11 - German Banks Exposed; Obama Economic Advisor on Election Chances; Riots Coming to America?

FULL PROGRAM	LISTEN TO FULL PROGRAM
Part 1	We begin by discussing the continued uncertainty about financial stability in the Eurozone, and the European Central Bank’s ability to weather the accumulating debt burden of Greece, Ireland, Portugal, Spain and Italy. William K. Black, the former litigation director of the Federal Home Loan Bank Board, who investigated the Savings and Loan disaster of the 1980’s, joins us to assess the exposure of German banks and how much they are hiding bad loans.
Part 2	We talk with Jared Bernstein, who up until recently, was Vice President Biden’s Chief Economist and Economic Advisor and a member of President Obama’s economic team. We discuss how much the recent austerity measures resulting from the debt-ceiling deal will hurt the economy and adversely effect President Obama’s reelection chances.
Part 3	Then we look into the possibility of growing economic distress in the United States sparking riots similar to the recent outbreak of arson and looting in the U.K. Darnell Hunt, professor of Sociology at UCLA and author of Black Los Angeles; American Dreams and Racial Realities joins us to gauge the level of despair amongst America’s youth facing dwindling job opportunities and whether that might lead to violence in the future.