OnPointRadio.org, a nationally syndicated talkshow on NPR, is hosting a program NOW entitled, "The Subprime Mop-Up." If you live in Greater Boston, you can listen to 90.9FM from 9-10am this morning, Thursday, September 6, 2007, or the rebroadcast tonight from 7-8pm. Beyond Boston, you can also listen to the program LIVE online at the link below, or access the audio anytime later at your convenience:
Aired: Thursday, September 06, 2007 10-11AM ET
Program description: The Subprime Mop-up
If you thought the subprime mortgage mess was behind us, think again. In the next year, another two million adjustable-rate mortgages are scheduled to reset from low "teaser" rates to household budget-busting new highs.
Foreclosure rates are already soaring. In some regions, whole neighborhoods risk going under. A credit crunch backlash has markets around the world in turmoil.
Now Washington is girding to weigh in. But who, if anyone, should be bailed out? Who punished? Who reined in?
This hour On Point: homes, high-rollers, and moral hazards in the subprime mop-up.
Housing economist Karl Case just ducked a question on the implications of the subprime crisis on housing prices nationwide and Congressman Barney Frank is about to speak. The complete line-up of guests include:
- Rep. Barney Frank, Democrat from Massachusetts, chairman of the House Financial Services Committee
- Karl Case, professor of economics at Wellesley College and co-author, with Yale's Robert Shiller, of the Case-Shiller Index, the leading database of U.S. housing sales
- Michael Mussa, former chief economist at the International Monetary Fund and former member of President Ronald Reagan's Council of Economic Advisers
- Michael G. Ciaravino, Mayor of Maple Heights, Ohio, a city hit hard by foreclosures