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Week In The News: Markets On A Wild Ride, GOP In Iowa, SEALs Under Fire

Markets on a wild ride. American revenge in Afghanistan. London riots. Our news roundtable goes behind the headlines.

Specialist Stephen Steinthal works at his post on the floor of the New York Stock Exchange Wednesday, Aug. 10, 2011. (AP)

Specialist Stephen Steinthal works at his post on the floor of the New York Stock Exchange Wednesday, Aug. 10, 2011. (AP)

It was a hair-raising week on Wall Street. Way down, way up, way down, way up in epic days that seemed to say nobody knows what’s going on. What comes next.

In the streets of London, wild riots, looting, fire –- the worst in a generation. In a valley in Afghanistan, the worst American one-day loss of life in that long war –- and then, counter-attack.

And at the Iowa State Fair, Republican presidential contenders out in the straw and up in debate –- all saying no to a ten-to-one spending cut to tax hike solution to the deficit.

This hour On Point: Our weekly news roundtable goes behind the headlines.

-Tom Ashbrook

Guests

Steve Chapman, columnist and editorial writer at the Chicago Tribune.

Rana Foroohar, assistant managing editor at Time magazine.

Jack Beatty, On Point news analyst

From Tom’s Reading List

The Los Angeles Times: “An American airstrike killed the Taliban insurgents whose attack caused a helicopter crash that killed 22 Navy SEALs and eight other U.S. service members, military officials in Kabul and Washington said Wednesday.”

Wall Street Journal: “U.K. Prime Minister David Cameron said Britain is considering a raft of new measures related to crowd control, gang membership and social-media communications, in an effort to prevent a repeat of rioting and looting that exploded across the country this week.”

The New York Times: “It feels eerily familiar: Stocks are plummeting. The economy is slowing. Politicians are scrambling to find solutions but are mired in disagreement.”

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