10/08/08
Marketplace Report for Wednesday, October 8, 2008
Episode Description:
Marketplace Report for Wednesday, October 8, 2008
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0
U.K., Iceland spar over online banks
The U.K. has threatened to sue Iceland to recover millions of euros Brits deposited in banks such as the collapsed IceSave, which has an online branch open to foreigners. European Bureau Chief Stephen Beard reports.
0
States can't get loans either
Businesses aren't the only ones squeezed by the credit crunch. State governments rely on short-term loans to keep services running. Jeff Tyler reports on the problems facing California and Massachusetts.
0
Coordinated rate cuts unprecedented
The Fed and five other central banks made history by coordinating half-percentage-point interest-rate cuts. That had never been done before. Steve Henn reports how it came about.
1
Financial crisis is not eco-friendly
Global warming and other environmental worries sparked a green business boom in recent years. But with the flow of money freezing up, so is spending on renewable energy technology and sustainable products and services. Sarah Gardner reports.
3
Governments need to create jobs
The bailout didn't give the economy a psychological boost as was hoped. Consumers just aren't consuming. Commentator Robert Reich proposes a WPA-style solution -- put people to work on infrastructure and invest in schools.
5
Recession is nothing new for Michigan
Signs of recession are everywhere in Michigan, which has been dealing with the auto industry's decline for years. New York Bureau Chief Amy Scott visited the Detroit area for our "Road to Ruin?" series and tells Kai Ryssdal what she saw.
0
Feds are hiring staff for the bailout
The government has been collecting applications from asset managers to work on the bailout. They're the people who will buy and manage those bad loans and securities for the Treasury. Washington Bureau Chief John Dimsdale reports.
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Even with price cuts, retail is down
September was not a good month for retail. No surprise there, right? Well, the drop in sales was even more than expected. Now retailers are especially worried about the holidays. Jaime Bedrin has the story.
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