President Obama recently surpassed Ronald Reagan's record for stock market gains made while in office. The S&P 500 shows a 120% rise, beating the 118% gain made during Ronald Reagan's presidency, and catching up to President Clinton's 220% record. Roben Farzad, senior writer for Bloomberg Businessweek discusses the economy during the Obama tenure and how it compares to Reagan-era economics.
Then, Tim Carmody, technology, business, and culture writer, and former senior writer at Wired, joins Roben to discuss today's Twitter IPO and what it could mean for the user experience and for the tech sector generally.
30 Issues in 30 Days is our election year series on the important issues facing the country this election year. Today: How to end the ongoing foreclosure crisis and relieve those who have lost their homes. Visit the 30 Issue home page for all the conversations.
The [political] fault lines are here in that the Tea party won a huge victory in the Congressional beat down and when you have someone like Rep. Ryan coming out and touching third rails of government...talking about slashing Medicare, talking about really representing the Tea Party agenda in certain elements, in that you could simultaneously cut the top tax rate and cut spending, you're really forcing the administration's hand. They're king of saying, well we're putting political skin in the game and now we're going to force you to come out and sacrifice some of your fiscal sacred cows.
— Roben Farzad, senior writer for Bloomberg Business Week, on The Brian Lehrer Show.
Goldman Sachs is investing $450 million in Facebook and was going to offer its clients a chance to invest. But this week Goldman Sachs announced they would limit that opportunity to foreign investors. Senior writer for Bloomberg Businessweek, Roben Farzad, discusses this move and explains what the SEC has to do with it. He'll also talk about why Facebook is beefing up its lobbying efforts in Washington.
Roben Farzad, senior writer for Bloomberg Businessweek, explains "quantitative easing" and is joined by Mira Kamdar, author of Planet India: The Turbulent Rise of the Largest Democracy and the Future of Our World (Scribner, 2008), to discuss the economic significance of President Obama's trip to India.