Kresta in the Afternoon – September 8, 2008 – Hour 2

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    First Topic – Correcting History on the Church and Nazis

    We have promised it twice before, and have been derailed by burning phone lines and breaking news. But today, we pledge to finally get to a truly historic Catholic discovery in Washington, D.C. Archivists at the Catholic University of America have uncovered an anti-Nazi radio broadcast from 1938. It demonstrates an EARLY American Catholic response to the persecution of Jews - a fact lost on many anti-Catholic historians. We listen and discuss.

    Second Topic – Feds Take Over Mortgage Giants: Spend $100 Billion Each?

    Uncle Sam has just become the 800 pound gorilla in the U.S. mortgage market. The Bush administration is seizing troubled mortgage giants Fannie Mae and Freddie Mac in a bid to help reverse a prolonged housing and credit crisis. But private analysts worried that it may not be enough to stabilize the slumping housing market given the glut of vacant homes for sale, rising foreclosures, rising unemployment and weak consumer confidence. The markets responded positively around the world today with the DOW gaining 200 points in the first 10 minutes of trading. George Schwartz, President and portfolio manager, Ave Maria Family of Funds, analyzes the bailout.

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