Here are some of the topics our panel discussed on 4 The Record this week.
- Democrats on Capitol Hill begin their impeachment investigation.
- Tough talk directed at Iran raises the threat of military action.
- The Federal Reserve comes to the rescue of banks that in some ways felt eerily similar to the financial collapse more than a a decade ago.
All of these subjects came up for discussion with Gregg Johnson, former president of AFSCME Local 46 and Rock Island County Republican Party Chair Drue Mielke on 4 The Record.
A big part of banking activity involves overnight loans.
Banks basically make very short-term loans to each other to make sure they have enough in reserves.
There’s a lot of back and forth.
It can get sticky if the Federal Reserve has to step in and deliver a cash infusion because the banks don’t have enough money to meet their reserves.
Well, that happened twice this week to the total of $128 billion. We haven’t seen the Fed do anything like this since 2008.
We all remember how well that turned out.
The Fed also cut interest rates this week. Right now analysts don’t expect a repeat because banks are making huge profits.
Johnson and Mielke discussed the potential that this becomes a bigger issue in next year’s election and who would win the economic argument?
Iran and Saudi Arabia
Last weekend’s air attacks on Saudi Arabian oil facilities quickly prompted the United States to point the finger at Iran.
The president imposed more sanctions against Iran that’s getting close to bringing its economy to a halt.
President Trump also indicates he will consider every option to deal with Iran.
Iran’s foreign minister threatend an all-out war if his country is attacked.
Members of Congress are talking more seriously about it.
I brought up the prospect of war a few weeks ago and it didn’t get much consideration.
Mielke and Johnson talked about if it is more likely now, if they think the country is ready for it and what political ramifications would go along with it.
Democrats are leading the charge on an impeachment investigation in Congress.
The House Judiciary Committee held its first hearing this week.
Former Trump campaign manager Corey Lewandowski’s appearance quickly became a combative political spectacle.
Everybody knows that there’s no chance the president will be impeached. Johnson and Mielke addressed why the Democrats are pursuing it, if it is a waste of time and how risky it is for the Democrats politically.
A story broken by the Washington Post this week put the president on the defensive.
It reports a whistleblower in the American intelligence community filed a complaint against the president about a concerning promise he made to a foreign leader.
The Post updated its reporting to indicate it involves the Ukraine.
The director of National Intelligence won’t let Congress see the complaint so the details are hidden.
I brought up the risks Democrats are taking by pursuing impeachment. Mielke and Johnson discussed how concerned the American public should be about this and if Republicans are at the point where they’ll defend the president at all costs.
Watch the video above for the full discussion.
Local 4 News, your local election headquarters, is proud to present 4 The Record, a weekly news and public affairs program focused on the issues important to you. It’s a program unlike any other here in the Quad Cities. Tune in each Sunday at 10:30 a.m. as Jim Niedelman brings you up to speed on what’s happening in the political arena, from Springfield, Des Moines, Washington, D.C. and right here at home.