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Treasury Secretary Henry Paulson, center, listens as President Bush, not pictured, makes a statement after meeting with G7 finance ministers about the financial crisis, Saturday, Oct. 11, 2008, in Washington. Pictured from left to right: Italy's central bank governor Mario Draghi; Eurogroup's Chairman Jean-Claude Juncker; Japan's Finance Minister Shoichi Nakagawa; Secretary of State Condoleezza Rice; Paulson; France Finance Minister Christine Lagarde; Canada Finance Minister James M. Flaherty, Britain's Chancellor of the Exchequer Alastair Darling, and Italy Finance Minister Giulio Tremonti. (AP Photo/Charles Dharapak)

Treasury Secretary Henry Paulson, center, listens as President Bush (not pictured) makes a statement after meeting with G7 finance ministers about the financial crisis on Saturday, Oct. 11, 2008, in Washington, DC. (AP)

Global giddiness to start this week, as stock markets right around the world bounced big steps back after days of paralyzing fear and panic — and global moves to coordinate massive measures to shore up beaten-down banks and finance.

The U.S. is right in the middle of the rescue moves. But is it in the lead anymore?

Loud voices from abroad have angrily blamed American-style economics for the crash of ’08, and promised the American era in world finance is over. That things will be different now.

What would that mean?

This hour, On Point: global financial crisis — and where Americans will stand when the dust settles.

You can join the conversation. When the great meltdown of ’08 is over, will America still be the “indispensible nation”? And will the U.S. be the one to set this right, or does tomorrow belong to Asia and Europe? Share your thoughts.

Guests:

Joining us from London is Daniel Hertzberg, deputy managing editor at The Wall Street Journal. He oversees the Journal’s Europe and Asia editions. In 1987, he shared both a Pulitzer Prize and the George Polk Award for coverage of the 1987 stock market crash.

Joining us from New York is Frederic Mishkin, a professor at Columbia University’s Graduate School of Business and an expert in economic crashes. Until August he was a member of the Board of Governors of the Federal Reserve. His most recent book is “The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich” (2006).

And from Washington we’re joined by Eswar Prasad, professor of trade policy at Cornell University, research associate at the National Bureau of Economic Research, and a senior fellow for global economy and development at the Brookings Institution. He worked for 16 years at the International Monetary Fund, serving part of that time as head of the Financial Studies Division and the China Division.

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ONPOINT
TODAY
Dec 19, 2014
Alan Gross, waves as he and his wife Judy leave following his statement at his lawyer's office in Washington, Wednesday, Dec. 17, 2014. Gross was released from Cuba after 5 years in a Cuban prison. (AP)

Cuba reset. Russia’s rubble troubles. School massacre in Pakistan. Jeb explores 2016. Our weekly news roundtable goes behind the headlines.

Dec 19, 2014
Soledad, and from left, Nina Pastori, and Lila Downs perform on stage at the Latin Recording Academy Person of the Year Tribute honoring Joan Manuel Serrat at the Mandalay Bay Resort and Casino on Wednesday, Nov. 19, 2014, in Las Vegas. (AP)

From crossover hits to hip-hop to soul, we look at a big year in the wide world of Latin music.

RECENT
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Dec 18, 2014
A poster for the movie "The Interview" is carried away by a worker after being pulled from a display case at a Carmike Cinemas movie theater, Wednesday, Dec. 17, 2014, in Atlanta. (AP)

A big Sony hack gets weirder and wider. And Hollywood and Homeland Security are on edge.

 
Dec 18, 2014
This handout photo from the Twitter account of Sen. Jeff Flake, R-Ariz. shows Alan Gross arriving at Andrews Air Force Base, Md., Wednesday, Dec. 17, 2014. The US and Cuba have agreed to re-establish diplomatic relations and open economic and travel ties, marking a historic shift in U.S. policy toward the communist island after a half-century of enmity dating back to the Cold War, American officials said Wednesday. (AP)

Following months of secret talks the US will restore full diplomatic relations with Cuba after more than fifty years.

On Point Blog
On Point Blog
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