PODCAST: Preventing another financial crisis
U.S. President Barack Obama (3rd R) shakes hands with Federal Reserve Bank Chairman Ben Bernanke (C) as FDIC Chair Sheila Bair (2nd L) looks on after Obama signed the financial reform bill into law during a ceremony at the Ronald Reagan Building and International Trade Center July 21, 2010, in Washington, D.C.
First up, news that Chrysler owned by FIAT is reporting very strong sales today—up 20 percent in August, in part because Jeeps and pickup are moving out of dealerships like crazy. Nissan also handily beat expectations with sales up 11 percent. That and geopolitics are defining the mood on markets. And later today, several bank regulators, including the Federal Reserve and the Federal Deposit Insurance Corporation, the FDIC, will vote on a rule that's designed to improve the way banks manage risk. More on their efforts to prevent the next financial crisis. And you've heard it before: Too many older people who haven't saved enough are forced to work until their dying day. Marketplace's senior economics contributor Chris Farrell doesn't see it this way. He's just written a book that argues there's cause for celebration about what we'll get to do in our later years.