This week the Treasury secretary suggested raising the cap on the size of mortgages Fannie Mae and Freddie Mac can buy up from banks and other lenders. The Bush administration has opposed that move. Nick Retsinas, who teaches housing economics at Harvard, explains.
Theories abound about why we act the way we do about money. An entire scientific field called neuroeconomics is dedicated to studying our brains on money. And Jason Zweig has written a book about it. He talked with Tess Vigeland.
Most of us have left bullies behind in the schoolyard . . . or have we? As Andrea Gardner found out, there's a disturbing new trend in office harassment claims. Is there a sheep in wolf's clothing in your office?
Trash Vigeland … Mess Vigeland … Bag Lady. The name calling began last weekend when Tess started two weeks of carrying around her trash 24-7 to get an idea of how much she sends to the landfill. Here's her update — and her challenge to you.
The Fed and it's Chairman Ben Bernanke showed Wall Street some love by cutting the key federal funds rate by a half a percentage point. Tess Vigeland talks with Peter Morici about what the rate cut may mean to the average consumer.
With the dollar weakening against the euro, trips across the pond are even more expensive than they were. North of the border it's another story. We asked Alisa Roth if she could find folks who are feeling the pinch — and finding a good fit.
This weekend brings the final push of a nearly year-long media blitz that you might have managed to tune out — unless you live with a video gamer. Lisa Napoli reports.
Former Fed Chairman Alan Greenspan wrote in his recently released memoir that he was disappointed Republicans didn't deliver smaller government and lower spending. Commentator Benjamin Barber says he should stop believing the party rhetoric.
Consumer groups and the big three credit reporting bureaus have been feuding for some time over when and how consumers can keep their histories from being released — especially to fend off identity thieves. Now there's a break in that battle. Steve Tripoli reports.
The Senate has passed a bill that gives the Food and Drug Administration new powers to monitor drugs after they hit the market. But some consumer advocates had hoped the bill would go further at reining in drug ads. Steve Henn explains.
Crude oil closed at $81.62 a barrel in New York today, up 35% since January. And yet, the mysteries of the refining pipeline have kept gas prices essentially flat since the beginning of summer. Jeff Tyler reports on the disconnect — and why it's not expected to last.
South Africa's economy is growing at almost 5% a year, with prosperity visible in major cities. But 13 years after the nation's first democratic elections, the boom hasn't trickled down to the poorest communities. And angry residents are speaking out. Gretchen Wilson reports.
The Senate passed a bill last night ensuring new funding and ad-monitoring powers for the Food and Drug Administration. But media companies made sure Congress was careful about the language used in the bill. Steve Henn reports.
Every year, thousands of Senegalese die trying to immigrate to Spain illegally. But the Spanish government is hoping a million-dollar ad campaign will make them think twice about taking the risky voyage.
The fall TV season has started and ratings across the board are low. Doug Krizner talks to Variety's Mike Speier about which network's in the best position, and which may be in trouble.
Qatar is trying to catch up with Dubai's Nasdaq deal and establish itself as the financial center in the Middle East. The battle is being fought over a stake in the London Stock Exchange. Stephen Beard reports.
Musuems across the country are hungry for curators who can successfully balance a knowledge of art with a knack for fundraising. Lisa Napoli reports those types are not easy to find.
Dubai and rival Qatar are both taking their business to Britain to expand their markets. Bob Moon discusses the country's welcome mat to the Middle East with Stephen Beard.
The White House, the Federal Reserve and Congress all have a plan to get us out of the subprime mess. Jeff Tyler goes over a few of the proposals to see which ones might stick.
Prestigious college football programs at Notre Dame, Michigan and UCLA have gotten off to rough starts this season with surprising losses to seemingly lesser schools. Our analyst Ed Derse says the business side of the sport might be adding a little parity to the game.
President Bush called on Congress to extend the State Children's Health Insurance Program — but with far less money than Congress wants to spend. John Dimsdale reports a big expansion in the program has significant support from the business community.
The USDA has unveiled a new voluntary compliance program for companies that want to grow and test genetically modified crops for medicine. None have come to market yet, but the prospect is sowing seeds for a battle between two very powerful industries. Sarah Gardner reports.
Mexican drug cartels operating in the U.S. bring in $23 billion a year, according to a government report due out tomorrow. That would rank them 97th on the Fortune 500 list. Dan Grech reports.
Nasdaq and the Dubai stock exchange have come to terms on an intricate deal to buy the Nordic OMX Exchange group. Marketplace's Stephen Beard discusses the details with Kai Ryssdal.
Treasury Secretary Henry Paulson let it be known today that the White House has decided to consider letting Fannie Mae and Freddie Mac buy up jumbo loans, something it's been opposed to. And Fed Chairman Ben Bernanke added it better happen soon. Steve Tripoli reports.
A nonprofit group is auctioning off the names of 10 new fish species discovered in Indonesia. Wealthy fishophiles are expected to line up and place high bids. Geoff Brumfiel reports.
The Dubai stock market has teamed up with Nasdaq to benefit from Nasdaq's takeover of Swedish exchange OMX. Stephen Beard reports the relationship is mutually beneficial.
With a clanky metal body and flat-screen head, doctors are using robotic nurses to remotely monitor their patients and save money. Shia Levitt has the story.
Skilled immigrants unhappy with current immigration policies protested in Washington this week. Scott Jagow talks to economics correspondent Chris Farrell about the need for comprehensive reform.
QVC does more than sell jewelry to you while you sit on the couch. To prove it, the company is trying something new: its first ad campaign in 21 years. Lisa Napoli has more.
The Census Bureau reported that 45 million Americans have no health insurance, but a study out today says it's really twice that. Helen Palmer reports.
When it comes to file sharing and illegal downloads, it's the big music labels that complain the loudest about being ripped off. Bob Moon reports on some ideas that might help the recording industry face the musical future.
The Fed has done its bit to help out the mortgage-induced credit crunch by lowering interest rates. Commentator Robert Reich says that's great for lenders and investors, but it won't do a thing for the little guy.
China's having inflation worries of its own. Beijing imposed price controls today on almost everything. The rising cost of food is the most worrisome in a country that has 1.3 billion people to feed. But Scott Tong reports the Chinese won't be the only ones paying the price.
Analysts were pleasantly surprised when Lehman Brothers reported a mere 3% drop in profits yesterday. But Morgan Stanley said today its earnings fell 17%, with almost $1 billion in bad loans to write off. Marketplace's Amy Scott explains the disparity.
The U.S. greenback is within a penny of the Canadian dollar — something that hasn't happened in decades. Alison Myers reports that it could mean a lift for American retailers.
General Motors and the United Auto Workers today got back to hammering out a new contract that could be a model for deals with Ford and Chrysler. Jeff Tyler reports the two sides are getting creative to solve the critical problem of healthcare costs.
For the first time in almost a year the Consumer Price Index dropped in August. Roll that in with the reported drop in wholesale prices and it's a nifty economic shapshot, no? But Jill Barshay reports the picture's actually not so clear.
A poll out today from Reuters shows one-third of Americans believe we're heading for a recession. But who's to blame? Steve Henn did his own poll this morning in D.C.
Authorities in Shanghai evacuated more than 2 million people to brace for what was to be the biggest typhoon in a decade. The city's partial shutdown left thousands of migrant workers without a day of pay. Scott Tong has more.
Wal-Mart and Intel recently adopted electronic health records for their workers. But getting other companies involved won't be easy. Helen Palmer reports.
The Fed's move to lower the lending rate has critics worried about inflation. Doug Krizner talks to Adrian Ash of London gold-trading firm BullionVault, who says that prices are rising.
Subprime finger-pointing has caused credit-rating agency Moody's to consider reforming its valuation system. But critics are complaining it won't fix the industry's larger problems. Bob Moon reports.
Climate change and low rainfall are fast draining Nevada's Lake Mead, which supplies Las Vegas with water. So the city is paying residents as an incentive to conserve. Stacey Vanek-Smith reports.
In his new book, former Fed chairman Alan Greenspan says the gains from globalization are waning. And commentator David Frum predicts a bad forecast for inflation.
The interest rate cut may have helped some investors out yesterday, but it won't fix everything. Stephen Beard discusses the downsides the drop could have on the markets.
On CBS's reality TV show "Kid Nation," 40 children are set loose on a ghost town to create an adult-free society. But the Marketplace Players don't see how this is much different from the America we know now.
Free doesn't always mean legal when you're downloading music. And critics say the recording industry's muddying the waters its spent years in court trying to clear up. Bob Moon reports.
London has more foreign billionaires than anyplace else in the world. Why? Because they pay less in taxes than they would in other large, developed countries. But that tax break is fostering resentment among less-affluent Brits. Stephen Beard reports.
Not too long ago, there was talk about the "China Price" — multinational firms shifting production to countries with lax laws and few regulations, where costs were lower. Commentator and economist Arthur Kroeber says now there should be a real price to pay.
MySpace.com owner News Corp says it will unveil technology this week that allows it to mine all the information its members reveal about themselves and target ads to their interests. Lisa Napoli reports.
Michael Mukasey, the president's nominee for attorney general, has been in a private law practice the last year where he helped pick up new clients needing white-collar criminal defense — such as subprime lenders who might have run afoul of the law. Steve Henn reports.
It was no surprise that the Federal Reserve cut interest rates today. But what really caught people unawares was what rates it cut — and by how much. Amy Scott reports.
In the last year, the number of warning letters sent to troubled mortgage-holders increased 115 percent. Steve Henn reports this may just be the beginning.
August wholesale prices had their biggest drop in 10 months, making an interest rate cut possibly more attractive to the Fed. But what will it help? Scott Jagow talked to Jamie Chisholm of the Financial Times.
Presidential hopeful Hillary Clinton laid out her plan for health care yesterday, which includes mandatory health insurance. But commentator Jamie Court says demanding more cost-effective coverage would be a better solution.
With this week's defense authorization bill in the Senate comes the possibility of another half a trillion dollars for non-war Pentagon spending. But Steve Henn reports they're already having trouble keeping track of the books.
From the Fed meeting rate cuts to August's wholesale prices report, there's a lot for the markets to digest today. Doug Krizner talked to ING Group chief economist Mark Cliffe in London about these numbers and the subprime effect in Europe.
An auctioneer in St. Louis is auctioning off various odds and ends from the old Tiger Stadium in Detroit. Scott Jagow spoke to CEO Bruce Schneider about what some sports fans will pay to own a piece of an old stadium bathroom.
The Grocery Manufacturers Association is calling for more government regulation of food imports. But critics say the trade group is imposing minor restrictions as a way to avoid potentially tougher ones in the future. Jeremy Hobson reports.
Lehman Brothers reported third-quarter earnings today, making it the first investment bank to turn in its numbers since the subprime crisis began. The other big banks report later this week, and Amy Scott reports investors are fearing the worst.
In the year since the E. coli outbreak was traced to Salinas Valley spinach, California's salad industry has lost tens of millions of dollars. Processors have come up with new ways to protect the food supply. But some say they've gone too far. John Ryan reports.
Former Fed chief Alan Greenspan is making the rounds plugging his new memoir and commenting on the economy. But when it comes to getting his views on the threat of recession? You still need to check and re-check.
Whatever the Federal Reserve annnounces for its expected interest-rate cut tomorrow, the housing meltdown and the credit crunch might have too big of a headstart for it to make much difference. Jeff Tyler reports.
A European Union court ruling that Microsoft is using its size and market share to keep competitors out of the market could create problems for how the software giant does business. John Dimsdale reports.
The Iraqi government has revoked the business license of private security firm Blackwater USA, whose employees allegedly killed at least nine Iraqi civilians in a firefight. Steve Henn reports the company has played an important but controversial role in the war.
The recording industry has gotten serious about illegal file sharing. In the last four years it has filed thousands of lawsuits. But, as Bob Moon reports in a special series, even those targeted by mistake, like Tanya Andersen, get no reprieve.
A report out today shows that soda sales in U.S. public schools are falling. But as Steve Henn reports, a majority of the beverages being sold are still full of sugar.
Mexican companies are applauding a revamped tax code after over two decades of political deadlock. Dan Grech explains why the tax overhaul could be good news for global investors.
Democratic SEC commissioner Roel Campos is stepping down this week, leaving the balance of the group tipped towards Republican favor. Jeremy Hobson looks into how this might affect decision-making.
A European court found Microsoft guilty of breaking competition law and not ensuring software compatibility. But Stephen Beard reports that the ruling might not have a major effect on the company's market dominance.
