Kresta in the Afternoon – October 1, 2012 – Hour 1

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    First Topic - "Support Israel. Defeat Jihad" Ads Go Up in NYC - Challenged in DC

    As violent protests over an anti-Islamic film ridiculing the Prophet Muhammad sweep over much of the Muslim world, a group called the American Freedom Defense Initiative has an ad in the New York subway system about jihad and Israel. The ad reads, "In any war between the civilized man and the savage, support the civilized man. Support Israel. Defeat Jihad."The ad was also plastered on San Francisco city buses in recent weeks. Meanwhile in Washington DC, the transit authority is saying "no" to the ad and a district court has scheduled a hearing for October 4 to hear arguments on the case. Attorney Rob Muise who is trying this cast is here to discuss what he calls censorship by the Washington DC Transit Authority.

    Second Topic - Understanding the Federal Reserve

    The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. The Fed is the source of much controversy and debate and holds tremendous control over the US monetary system, yet most Americans have no idea how it works. Investment manager George Schwartz is here to help us.

     

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