Marketplace Morning Report for Wednesday, May 6, 2009

Episode Description 
Marketplace Morning Report for Wednesday, May 6, 2009

At the heart of B of A's billions

Bank of America reportedly needs $34 billion to survive this economic climate. Where did the bank get this number? Steve Chiotakis talks to analyst Juli Niemann with Smith, Moore and Company.

Identity theft is not a soft crime

This week, the Supreme Court made a ruling on aggravated identity theft about the use of Social Security Numbers that has business columnist David Lazarus a little "cheesed off." He lets off some steam with Bill Radke.
Posted In: Crime

Fighting the credit card stranglehold

The debate on credit card interest rates in Congress has sparked a separate battle over the fees credit card issuers charge merchants. John Dimsdale explores the take of store owners versus card issuers.

States struggle to avoid budget deficits

Unlike the federal government, states can't carry deficits, and many states are cutting services to balance their budgets. Jennifer Collins reports why this hurts the economy, and why it would be bad for states to rely on cuts alone.

Fiat's Chrysler plan may be the only one

A bankruptcy judged ruled against a group of Chrysler's creditors who were trying to block the deal with Fiat. The opposition claims the plan is illegal, but Stephen Beard reports it's unlikely anybody else would offer a better one.
Posted In: Auto

Banks will get new rules to repay TARP

The government is reluctant to let banks rapidly repay TARP money for fear they won't be ready to stand on their own. Tamara Keith reports new guidelines banks will need to follow, including giving up the FDIC debt guarantee.
Posted In: Investing

Advertisers face changes at the Globe

The Boston Globe's survival has many area advertisers breathing a sigh of relief. It may not have the same selling power as it did in its heydey, but ad space in the newspaper is still vital to many. Curt Nickisch reports.

Politics plays role in bailout mania

President Obama lashed out at several Chrysler investors who refused to sign on to the administration's restructuring plan. But commentator Will Wilkinson wonders why the president is involved in bailout proceedings at all.

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