12/17/08
Marketplace for Wednesday, December 17, 2008
Episode Description:
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0
How did SEC miss $50 billion fraud?
Bernard Madoff's alleged Ponzi scheme is just the latest high profile mistake made by the SEC. Chairman Christopher Cox has launched an internal probe, and there are many more investigations to come. Steve Henn reports.
22
He's successful -- and undocumented
A small businessman who runs a car repair shop in Minneapolis is doing rather well these days, as customers try to extend the lives of their beaters. But he has a big obstacle to success -- he's an undocumented Mexican immigrant. Stephen Smith reports.
5
Decoder: Futures
When futures traders buy grain, oil or other commodities, they're paying what they think those products will be worth in several weeks or months. How does the process work? Rico Gagliano explains in The Marketplace Decoder.
0
Dollar drops on Fed rate cut
The dollar has dropped dramatically against key foreign currencies. It now stands at a 13-year low against the yen, and it's back to October lows against the euro. But currency experts expect the U.S. economy to bounce back before others, Jeremy Hobson reports.
2
More harm than good in state cuts
A majority of states face massive budget deficits. Unlike the federal government, states have to balance their budgets. But the cuts needed to make that happen may only make things worse. Sam Eaton reports.
10
In financial crisis, it's still a democracy
There's been a lot of talk about how much it will cost to keep the Big Three automakers in business. But Commentator Robert Reich says there's more on the line than just money.
1
Time to get your taxes in order
You've got two weeks to get your finances in order, when it comes to what you'll be paying Uncle Sam in income taxes. Tess Vigeland talks with the Wall Street Journal's Tom Herman to get some helpful hints on reducing the tax bite.
0
OPEC makes record cut in production
Alarmed by the plummeting price of oil, OPEC ministers today announced a record cut in future output -- 2.2-million barrels per day beginning Jan. 1. Even so, prices on world markets hit four-year lows today. John Dimsdale explains why.
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