PLEDGE NOW
The View from Wall Street
The news ticker on Times Square shows a loss of 778 points on the Dow Jones industrials. (AP)

The news ticker on Times Square shows a loss of 778 points on the Dow Jones industrials. (AP)

Washington’s message to Wall Street yesterday: drop dead.

And Wall Street nearly did. A 777-point loss on the Dow. The biggest one-day point drop in history.

It might have felt good to smack Wall Street one, after the meltdown of the last ten days. Problem is, they are us, too. Pension funds, savings, dreams.

And yet, they’re different. Huge pay packages, golden bonuses, yachts and mansions. Risk that we bear.

This hour, On Point: Fear, panic, and the view from Wall Street now. Plus, we’ll hear from novelist Tom Wolfe, who first unveiled Wall Street’s “masters of the universe.”

You can join the conversation. What next? What now? And what’s your message to Wall Street?

Guests:

Joining us from Washington is Greg Ip, U.S. economics editor for The Economist. He’s been reporting from Capitol Hill on the Congressional negotiations over the bailout.

With us from New York is Jesse Eisinger, senior writer for Portfolio magazine. He covers finance and Wall Street.

Also from New York, we’re joined by David Beim, a professor of finance and economics at Columbia Business School and a member of the Council on Foreign Relations. He worked for 25 years in investment banking, and currently serves as a director of a cluster of mutual funds managed by Merrill Lynch.

And with us from New York is Tom Wolfe, novelist and social chronicler, author of “The Electric Kool-Aid Acid Test” (1968), “The Right Stuff” (1979), and many other books. His 1987 novel “The Bonfire of the Vanities” brought us the phrase “masters of the universe” to describe Wall Street’s high-rolling hotshots. He’s watching the current meltdown.  His forthcoming novel, about immigration in Miami, is “Back to Blood.”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
May 27, 2016
Riot police block off the Albuquerque Convention Center to anti-Trump protests following a rally and speech by Republican presidential candidate Donald Trump at the convention center where the event was held, in Albuquerque, N.M., Tuesday, May 24, 2016. (AP Photo/Brennan Linsley)

Obama at Hiroshima. Turmoil at Trump rallies. Clinton’s emails, heating up. Sanders predicts a “messy” convention. Our weekly news roundtable goes behind the headlines.

May 27, 2016
In this Oct. 27, 2015, photo,  Big Muddy Farms, an urban farm in northern Omaha, Neb. is seen amongst residential homes. (AP Photo/Nati Harnik)

Just in time for Memorial Day weekend, we’ve got top gardeners spilling the beans on how to grow everything.

RECENT
SHOWS
May 26, 2016
This March 16, 2015 photo shows portraits of now-retired U.S. Army Sgt. 1st Class Marshall Powell, right, and his wife, Arasi, at their home in Crescent, Okla. Powell suffers from a psychological wound called "moral injury" after serving as an Army nurse in Iraq and Afghanistan. Arasi, also a soldier who served in Iraq, had received treatment for PTSD. (AP Photo/Brennan Linsley)

In advance of Memorial Day, we’ll talk with Sebastian Junger about vets coming home and missing their “Tribe.” Plus, a WWII veteran remembers life on and off and the battlefield.

 
May 26, 2016
This Jan. 26, 2016 file photo shows a "For Sale" sign hanging in front of an existing home in Atlanta.  Short of savings and burdened by debt, America's millennials are struggling to afford their first homes in the face of sharply higher prices in many of the most desirable cities. (AP Photo/John Bazemore, File)

No more ’empty nest’. A third of millennials now live at home with their parents. We’ll look at what’s still pushing that trend.

On Point Blog
On Point Blog
WWII Vet Larry Kirby Reflects On American Values
Thursday, May 26, 2016

Looking ahead to Memorial Day, a World War II veteran looks back at the experiences that mattered to him, both in and out of war.

More »
Comment
 
Gloria Steinem Explains Her ‘Bernie Boys’ Comment
Tuesday, May 24, 2016

Feminist activist Gloria Steinem explains why her apparent diss of female supporters of Sen. Bernie Sanders was anything but.

More »
Comment
 
‘Best Of’ 2016 Commencement Speeches
Monday, May 16, 2016

Excerpts from a few of the best commencement speeches delivered to the graduating class of 2016.

More »
Comment