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
Feb 9, 2016
Host Tom Ashbrook and producer Sarah Platt speak to supporters of Republican Sen. Marco Rubio (FL) outside the candidate's Manchester, N.H. campaign headquarters on Monday, February 8, 2016. (Katherine Brewer / WBUR)

We’re live in New Hampshire for the first in the nation primary day, with all the latest on how the big vote is shaping up.

Feb 9, 2016
Republican presidential candidate Donald Trump speaks during a campaign stop at a Rotary Club luncheon in Manchester, N.H., Monday, Feb. 8, 2016. (AP Photo/Charles Krupa)

From New Hampshire, a deep dive, from Trump to Sanders, on how the candidates would approach the U.S. economy.

RECENT
SHOWS
Feb 8, 2016
Legendary film critic  Roger Ebert in an archival image from his early days at the Chicago Sun-Times. (Flickr / WikiCommons)

The critic speaks. The New York Times’ A.O. Scott on how to think about art, pleasure, beauty and truth.

 
Feb 8, 2016
Sign stands outside property for rent Friday, Nov. 20, 2015, in south Denver. (AP Photo/David Zalubowski)

If it feels like rents are sky-high, you’re right. Some now paying more than half their income on rent. Some say crisis. We’ll dig in.

On Point Blog
On Point Blog
Notes From New Hampshire, #6: Bernie v. Hillary — The Electability Debate
Monday, Feb 8, 2016

Bill and Betty are not real New Hampshire voters. But their arguments about the Democratic race for President most certainly are.

More »
Comment
 
Notes From New Hampshire, #5: Ted Cruz — The Advocate
Monday, Feb 8, 2016

Texas Senator and Republican Presidential candidate Ted Cruz is an impassioned advocate, Jack Beatty writes — but mostly for himself above all others.

More »
Comment
 
Notes From New Hampshire, #4: Donald Trump — You Heard It First!
Friday, Feb 5, 2016

Jack Beatty recounts an evening rally with Republican Presidential frontrunner Donald Trump, and wonders if the billionaire businessman is really looking for an exit.

More »
Comment