BTS 8/13/07: Karl Rove; Economic Crisis; Update on Russia

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We begin tonight's program with this morning's news. Karl Rove, called "Bush's Brain" and master strategist, has resigned, effective at the end of this month. David Corn thinks he should stay, and we'll ask him why.

We then turn to economic news. The fundamentals under our McMansion of equity market hope has started to buckle, and the subprime credit punch Ponzi scheme has led to a liquidity crisis as foreclosures mount and international markets respond. Max Wolff joins us to explain what is going on, whether we should be worried or just plain scared, and what can be done.

And finally on tonight's Beneath the Surface we turn to Russia - still living on oil revenues and increasingly dictatorial, with Cold War tensions mounting. We ask Simon Pirani to assess the Russian economy, politics, and place in the world today.

Read More to find out about tonight's guests:

1. David Corn is the Washington editor of The Nation, the oldest political weekly in America, and a Fox News Channel contributor. He writes on a host of subjects, including politics, the White House, Congress, and the national security establishment. He has broken stories on George W. Bush, George H.W. Bush, Newt Gingrich, Colin Powell, Rush Limbaugh, Enron, the Central Intelligence Agency, the CIA leak case, the Pentagon, and other Washington players and institutions. He currently writes a web column for The Nation called "Capital Games". He has a blog at that is part of the Pajamas Media network. He also blogs at He is the co-author (with Michael Isikoff) of Hubris: The Inside Story of Spin, Scandal, and the Selling of the Iraq War (Crown, 2006).

2. Max Fraad Wolff is an economist and free lance researcher/writer. His work regularly appears in the Asia Times, The Prudent Bear and many other international outlets. His work can also been seen regularly on his site Based in NYC, Max does contract research on international financial risks and opportunities while teaching in the New School University's Graduate Program in International Affairs.

3. Simon Pirani is a journalist who writes about Russia and the former Soviet Union, He just finished a book on the workers and communists in the 1920s, and am now working on the post Soviet period.