08/27/07
Marketplace AM for August 27, 2007
Episode Description:
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Ready to go back in the subprime water?
The recent problems terrorizing the mortgage market are likely to scare off some investors for some time to come. But sale prices in the aftermath could also lure in bargain hunters. Steve Henn reports.
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Bailing out lenders for a profit... or not
Bank of America got a lot of attention on Wall Street last week for a timely loan that saved mortgage lender Countrywide Financial. But it also got a heckuva deal, says Allan Sloan, the kind taxpayers can only wish the Fed and the ECB were getting.
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No. 1 threat: Credit crunch, not terrorism
Survey says: Economists now cite massive defaults on subprime mortgages and heavy debts as the top threat to the U.S. economy. As recently as March, the possibility of a terrorist attack was still the greatest worry. Janet Babin has more.
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Bat Boy cast into cyberspace!
It'll still be published online, but today's issue of Weekly World News will be the last to hit newsstands. For 28 years the paper greeted shoppers in the grocery checkout line with fantastical, OK, ludicrous tales, and commentator John Booth is going to miss it.
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Tata shopping for luxury cars
Indian steel and auto conglomerate Tata will likely be the proud new owner of luxury car brands Jaguar and Land Rover. And it could be a good match all around, Stephen Beard reports.
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Brazilian political scandal hits frying pan
Dozens of officials in Brazil are accused of getting their palms greased to support the policies of President Lula da Silva. This week that nation's high court takes up the case that's been simmering for years. Dan Grech reports.
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Beware: Subprime sharks still lurking
Even as the subprime mortgage sector crumbles and lenders like Countrywide take out multi-billion dollar lines of credit to stay in business, ads appealing to people with bad credit are still surfacing on the Internet. Say what? Ashley Milne-Tyte reports.
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