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Wednesday      
July 15, 2009
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Goldman Sachs, the “Bubble Machine”

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The financial powerhouse Goldman Sachs just posted its biggest quarterly profit ever in it 140-year history. How did they do this, just months after receiving federal bailout money? Our guest, Matt Taibbi, writes about Goldman Sachs in Rolling Stone. He says the firm has engineered every major market manipulation since the Great Depression, and is about to do it again.

How’s the Bank Bailout Working, and What Kind of Help Do Consumers Need?

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We’ll speak with Elizabeth Warren, Harvard law professor and chair of the congressional panel to oversee the U.S. bank bailout. Warren is also one of the movers behind the White House’s proposal to create a new Consumer Finance Protection Agency.

Entrepreneur Explores Space

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Entrepreneur Elon Musk, who co-founded PayPal, has turned his attention to SPACEX, which he hopes will become the first private company to take astronauts into space. Musk’s vision for future space exploration includes commercial private space flights and settlement on Mars.

Return to the Moon

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A quarter moon is visible in this oblique view of Earth's horizon and airglow, recorded with a digital still camera on Sunday, Jan. 26, 2003, aboard the Space Shuttle Columbia. The six Americans and one Israeli aboard Columbia marked their 12th day in space Tuesday, Jan. 28, 2003. Their round-the-clock laboratory research mission, featuring more than 80 experiments, is due to end with a landing back at Kennedy Space Center on Saturday. (AP Photo/NASA)

A quarter moon is visible on Earth's horizon, from aboard space shuttle Columbia on Jan. 26, 2003 (AP)

It’s been 40 years since astronaut Neil Armstrong took his one small step for man on the surface of the moon. President Bush set a goal of establishing a permanent human presence there by 2020. But with a recession and a $50 billion mission price tag, is there a good reason to go back? Our guest is David Mindel, professor of the history of technology at MIT and author of  the book “Digital Apollo: Human and Machine in Space Flight.”

The “Harry Potter” Franchise

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The movie “Harry Potter and the Half Blood Prince” is finally out. It’s the latest film in the lucrative Potter franchise. The BBC’s Vincent Dowd reports on the concept of the franchise film and whether it’s changing the film industry.

Music from the Show

  • Ahmad Jamal, “Patterns”
  • Freddie Hubbard, “Little Sunflower”
  • Peter Dixon, “Nagog Woods”
  • Ken Vandermark, “Knock Yourself Out”
  • John Williams, “Hedwig’s Theme,” from “Harry Potter and the Sorcerer’s Stone” original motion picture soundtrack
 

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Listener comments
  • Regarding Matt Taibbi’s article: Goldman Sachs is a company of people that work hard and are talented at what they do. His article is the equivalent of banging on a podium and declaring things must be linked without providing any real evidence. Please try to understand the industry and company before making such baseless accusations.

    Posted by Carolyn, on July 15th, 2009 at 12:27 pm
  • I don’t know how many people are like me — unable to always be commenting on how appreciative (and dependent)we are — in driving from place to place, losing our places on the radio as we park . . . losing different radio broadcasts we find ourselves in the midst of because we have to enter “new meetings” throughout the day . . . “Here And Now” is definitely one of those programs that make my routes of constant traffic around the county the “pleasure” they can be when I take time at the end of day to download the full repertoire of programs which I have missed — and only have heard snatches of . . .

    Keep up the good work . . . my apologies that I haven’t recorded my (abundant) appreciation earlier . . .

    Posted by David, on July 16th, 2009 at 12:30 am
  • David, I had to jump on and thank you. We are a small but earnest group and we work hard with listeners like you in mind!

    But speaking of which, Carolyn, thank you as well. I don’t doubt you work hard!

    I hope in addition to Matt you heard Professor Elizabeth Warren, head of the bailout oversight panel, and someone quite familiar with the industry.

    She agreed with Matt, saying that Goldman and other companies have been “pulled from a ditch, but are headed directly for it again.” by using the same financial instruments.

    We’ll continue to follow this story. With you in mind!
    Thanks again.

    Robin

    Posted by Robin Young, on July 16th, 2009 at 9:59 am
  • Don’t pick on poor “olde” Goldman Sachs.

    Everything to date is purely coincidental!
    Paulson, bailout money, tarp funds, bank conversions, partnerships with prominent ex politicians (vice presidents included)and who knows what else has yet been discovered!

    No wrong doing whatsoever!

    So why then hide it under a bushel basket?

    Let’s shine the light on them and keep it on.
    We (the government) should keep the warrants and get the maximum return on our investment.

    If walks, swims and quacks like a duck, it sure ain’t an EAGLE!

    We will be watching you! Especially now that you ask us to TRUST you!

    Simplicus

    Posted by A Leonido, on July 17th, 2009 at 12:00 pm
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