After a week of chaos, we finally have a bailout bill. Economics editor Chris Farrell sets the story straight on the implications of the rescue plan in the coming months and years.
A popular measure aimed at helping prospective homebuyers make their down payment is no longer an option. Marketplace's Rachel Dornhelm reports on the efforts to restore down payment assistance programs.
In a shaky economic time, it's always nice to have a little help from an expert. On this week's Day in the Work Life, we meet Rick Zettlemoyer, a professional financial planner.
As host Tess Vigeland hosts the show from Salt Lake City, we get a brief history of Mormons and their unique way of providing for one another in crisis from journalist and author Ken Verdoia.
In all the chaos around the current crisis, it's hard to keep a level head. Host Tess Vigeland talks with Dr. Richard Peterson about the mind games the market plays with investors.
Reporter Dan Bammes asks Utah residents how the financial crisis has affected them, and a few of our younger listeners weigh in on how the state of the economy has changed their investment strategy.
Even though Congress has agreed on a revised bailout plan, Marketplace Senior Business Correspondent Bob Moon tells host Tess Vigeland that the economy isn't out of the woods yet.
Host Tess Vigeland and reporter Amy Scott are on the road to see how the financial crisis is affecting people all over the country. Tess reports on how residents in Salt Lake City are weathering the storm.
Kai Ryssdal talks with House Speaker Nancy Pelosi about passage of the bailout bill. The congresswoman says plans are in the works to establish regulatory policies and other reforms.
Investment instruments known as collateralized debt obligations are partially to blame for the mortgage crisis. They're complicated and hard to explain, but Rico Gagliano gives it a try with help from Marketplace Senior Editor Paddy Hirsch.
Marketplace Money Host Tess Vigeland and New York City Bureau Chief Amy Scott give Kai Ryssdal an update from their cross-country trips to see how Americans are doing in our "Road to Ruin?" series.
The Senate tinkered with the bailout plan, then passed it. And, lo and behold, the House passed it too. Meanwhile, the Dow took a dizzying fall. Kai Ryssdal takes a look at a week that could best be summed up as a real doozy.
Wachovia has billions of dollars in toxic mortgage debt, which Wells Fargo wants to buy. But Citigroup says it's got first dibs, and Warren Buffett is in on the action too. Janet Babin sorts it out.
With the financial bailout plan approved, Treasury Secretary Henry Paulson wants the operation set up within weeks to instill confidence in the markets. Washington Bureau Chief John Dimsdale looks into what that entails.
The House is preparing to vote on the Senate's version of the $700 billion bailout for the financial industry. Nancy Marshall Genzer reports that today, House leaders say they have enough votes to pass it.
Wells Fargo would get Wachovia for $15 billion, knocking Citigroup and the FDIC out of the picture. Renita Jablonski talks to Chris Whalen of Institutional Risk Analytics about why the banks may be a good fit.
The House vote today will determine the future of the rescue package, but some on the floor are still trying to decide where they stand. Scott Jagow talks to Republican Congressman Mike Conaway, who's still on the fence.
European leaders are meeting ahead of Washington's G8 meeting to try to come to a unified economic stance. Megan Williams reports one big issue is whether or not to set up more coordinated banking oversight.
For a group of seniors at a Panera in Charlotte, North Carolina, the financial bailout is hot on the talk menu. Amy Scott sat in on one of their discussions and got an earful for the latest in our Road to Ruin series.
In the early 90's, Sweden was facing a financial crisis that sounds a lot similar to what the U.S. is going through right now. Alisa Roth explores what the country did to get back on its feet and why it worked out well in the end.
A couple weeks ago, the government loaned insurance giant AIG $85 billion. Today, the it plans to share how it might pay that money back. Ashley Milne-Tyte reports what pieces of the company competitors may like to buy.
Lobbying groups are telling small businesses, manufacturers to call their members of Congress and urge them to pass the financial rescue bill. Scott Jagow hears more from Nancy Marshall Genzer in Washington.
Marketplace Senior Editor Paddy Hirsch gives a bubbly explanation of the intricacies of "collateralized debt obligations" — those financial instruments that got us into this financial mess.
The economic downturn has spread to almost every industry, and sports is no exception. Host Kai Ryssdal gets details from business of sports expert Diana Nyad about the affect on sponsorships, TV ratings and more.
Many Wall Street banks and financial services moved parts of their operations across the Hudson River, earning Jersey City the name "Wall Street West." Sally Herships learns that might not be such a good thing now.
Hope for Housing, is a new $300 million program to help homeowners facing foreclosure get new loans. It was part of the Fannie Mae-Freddie Mack deal. Stacey Vanek-Smith talks to some who want to see more.
The credit crisis is spreading like a bad flu. It's affecting construction, automakers and retail outlets. And, as reporter Steve Henn learns, more layoffs are on the way.
Inflation is running about 3 percent across the euro zone, well above the European Central Bank target of 2 percent, says European Bureau Chief Stephen Beard. He tells Kai Ryssdal that the level of fear is rising, as well.
Republican Congressman John Campbell voted yes for the $700 billion rescue plan the first time around and tells Kai Ryssdal that he intends to do so again when it comes back to the House floor.
Commentator Chris Mayer says the Senate bailout bill won't directly help the housing market or foreclosures. His advice: Bring down mortgage rates. And, he adds, the government has to step in.
Layoffs were at a staggering 95,000 employees in September, with the financial industry the fourth-largest job cutter. Dan Grech reports Wall Street's bad numbers will start to show in a few weeks.
The Securities and Exchange Commission extended a ban on stock short-selling put in place last month. Stacey Vanek-Smith looks into why the SEC enacted the ban in the first place and the dangers of short-selling.
Does the Senate's new version of the bailout package do enough to prevent future problems? Scott Jagow talks to Democratic Congressman Bill Pascrell about the changes he'd like to see made to the bill.
European financial leaders are having trouble organizing a plan of action to combat the financial crisis. Stephen Beard reports the European Commission will meet for an emergency summit this Saturday.
While the financial crisis continues to get top billing in the media, folks in Reno, Nevada don't seem as alarmed. At least, not those who talked to Marketplace Money host Tess Vigeland. She talks to Renita Jablonski.
As lenders become increasingly conservative, borrowers will grow more cautious. Scott Jagow talks to economic editor Chris Farrell about how the recession will promote a new, long-lasting wave of frugality.
Marketplace's financial road trip continues this morning in Charlotte, N.C., where New York City Bureau Chief Amy Scott explores the wide effects Citigroup's purchase of Wachovia's banking business has on the city.
The Senate's new economic rescue package is now worth over $800 billion. Washington Bureau Chief John Dimsdale told Renita Jablonski some Republicans naysayers see improvements in the new bill.
Marketplace Money host Tess Vigeland and New York City Bureau Chief Amy Scott are crossing the country to see how Americans are doing. They get our "Road to Ruin?" series rolling by talking to Kai Ryssdal from San Francisco and Charlotte, N.C.
After the financial rescue plan failed in the House, Kai Ryssdal checked in with Democratic Rep. Peter DeFazio to talk about his No vote. Now that the Senate has come up with a new version, Kai calls him back.
Just how did we get into this credit crisis? The ongoing story is full of confusing terms and obscure financial products. Even the sellers didn't know what they were. The Marketplace Players try some out.
Money for loans is available; it's just that it costs a lot of money to borrow it. So, for many businesses, the credit crunch is very real. Mitchell Hartman reports.
A majority in the House voted against the financial rescue bill, in part, because they were swamped with calls from angry constituents. Kai Ryssdal asks behavioral economist Dan Ariely why Americans want revenge.
The House rescue plan failed by only 12 votes. Now, a block of House Republicans wants to rewrite the bill with a more market-based approach. Nancy Marshall Genzer finds out what that includes.
To attract more votes to their version of the rescue plan, Senate leaders added items to the bill that was rejected by the House, in hope of winning votes. Washington Bureau Chief John Dimsdale has more.
Part of the Senate's financial rescue plan would suspend something called "mark-to-market" rules of accounting. Jeremy Hobson explains what that "something" is and what would happen if it went away.
President Bush is set to sign a bill authorizing $25 billion in loans to American automakers to help Detroit make more fuel-efficient cars. But Sarah Gardner reports it'll be awhile before we see those cars rev up.
Many homeowners who have been using home equity to fulfill basic needs are running into trouble as banks freeze lines of credit. Stacey Vanek-Smith talks to people who had equity lines now troubled by the credit crunch.
British bankers are upset over an emergency move by the Irish government to guarantee 100% of all Irish deposits. As a result, Brits have been pouring money into Irish accounts. Stephen Beard reports.
A new report says these days we're seeing fewer start-ups go public. Mitchell Hartman looks into what's causing the lack of willing venture capitalists and why they're not backing up IPOs.
The Senate will vote on a new financial rescue package tonight with new provisions to pick up House votes. Scott Jagow talks to Steve Henn in Washington about what's new in the bill and how these additions could backfire.
Headlines have been trumpeting news of a financial crisis for weeks, but the situation isn't the easiest to understand. Scott Jagow gets a primer from consultant Peter Cohan, who explains the credit market trauma.
From layoff risks to shrinking house and 401(k) values, older workers may be headed for the most trouble in the financial crisis. Commentator Robert Reich says bailout or no bailout, baby boomers should watch out.
When oil seller SemGroup filed for bankruptcy, it pulled thousands of oilmen down with it, demonstrating how the failure of one big company can be felt across an industry. Laurie Burkitt reports.
