01/05/09
Marketplace Morning Report for Monday, January 5, 2009
Episode Description:
Marketplace Morning Report for Monday, January 5, 2009
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House delves deeper into Madoff case
The House Financial Services Committee will hear today about Bernie Madoff's company and $50 billion pyramid scheme. Lawmakers want to figure out why the SEC didn't catch the fraud. Janet Babin reports.
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Chinese ships combat-ready for pirates
Three Chinese warships are heading to Somalia to protect cargo against pirates. Experts say the added naval protection helps prevent hijackings, which are high in the region. Scott Tong reports.
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Decoder: Term Auction Facility
Some financial experts would tell you to thank your lucky stars for the Term Auction Facility, which has helped keep the rough economy going. Janet Babin explains how by taking us for a walk on the beach.
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Fewer cars in the U.S. fleet
Carmakers come out today with December sales, and analysts are saying along with poor figures, there are fewer cars on the road. But there are signs truck and SUV sales may be healthier as gas prices decline. Amy Scott reports.
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Russia, Ukraine dispute over pipeline
A dispute between Russia and Ukraine over natural gas is hurting supplies to other European countries. Russia is accusing Ukrainians of stealing gas, while the Ukraine blames faulty piping. Stephen Beard reports.
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Brits bid 'Woolies' a sad goodbye
Woolworth's will close its doors in the U.K. for the last time tomorrow, ending a legacy that spans 100 years. Stephen Beard spoke to customers in London who fondly recalled shopping at the store as children.
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Regulators target credit default swaps
Credit default swaps are blamed for many of last year's financial crises, including the fall of Lehman Brothers. Now federal regulators are hoping to rein in the $58 trillion market. Janet Babin reports.
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Tax cuts included in Obama plan
President-elect Barack Obama will be on Capitol Hill today to discuss his stimulus plan, which is said to include $300 billion in tax cuts. Nancy Marshall Genzer explores what else the package would include and how.
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