Week of June 15th, 2009

Numerous scholarly studies have documented the relative poor performance of professional money managers compared to the market averages, such as…

Jason Zweig, the market columnist for the Wall Street Journal, has a nice tribute to the late Peter Bernstein. You can read it here….

This comes from David Rosenberg. he used to be chief economist at Merrill Lynch. He is now with Gluskin Sheff. Rosenberg always finds intriguing…

In honor of financially savvy (and not so savvy) dads everywhere, writer Lauren Weber talks about the lessons she learned from her father. We also hear from listeners about what their dads taught them about money and finances.

My weekly podcast, After the Bell, is now available. This week, the government got serious about two enormous projects — health care reform and…

The latest numbers show that, on average, credit scores are starting to bounce back up. The strongest trend is in the Midwest, which also happens…

It's no surprise that the housing crisis hit subprime borrowers or those who bit off more than they could chew. But now foreclosures seem to be making their way to prime borrowers — those with good credit and a fixed rate. Mitchell Hartman reports.

The national health service is perhaps the U.K.'s most prized institution. But how is it faring during the economic crisis? Stephen Beard reports.

Changes to the U.S. health care system are on the horizon, but it's not the first time. Economics editor Chris Farrell talks about why this time it's different.

People who hide money in Swiss banks might be in for a rude awakening soon. Today, the Treasury Department announced a new deal to share more tax…

The new Consumer Financial Protection Agency might not seem to have a lot in common with cheddar and brie, but Marketplace Senior Editor Paddy Hirsch sees a connection.

President Obama is establishing the Consumer Financial Protection Agency, a watchdog group intended to keep an eye on deceptive financial practices. Tess Vigeland talks to Harvard professor Elizabeth Warren about her role in the agency's creation.

The New Acropolis Museum is opening in Athens, Greece. But the marble structures it wants to showcase are stuck in England. Christopher Werth reports on the controversy over the so-called "Elgin Marbles."

Marketplace's Brendan Newnam and Rico Gagliano talk with fellow staffers Amy Scott, Bill Radke and Stacey Vanek-Smith about their favorite under-the-radar business stories this week: Gravel roads, soup for a penny, and Boston selling its Christmas village.

The Senate has passed a bill that'll give vouchers to car buyers who trade in their gas-guzzling clunkers for more fuel-efficient vehicles. Mitchell Hartman reports on who benefits and loses from the "Cash For Clunkers" program.

Freelance financial writer Heidi Moore and The Atlantic's Megan McCardle talk with Kai Ryssdal about the Obama administration's proposed regulations and whether they will be enough to fix the financial system.

The term 'exit strategy' is being bandied about as more forecasters contemplate a better economy. But when that exit should happen is the critical question. John Dimsdale reports.

Securities and Exchange Commission Chairwoman Mary Schapiro wants to crack down on so-called "dark pools." Never heard of them? Amy Scott explains what they are.

Yet another health care reform proposal is floating around Congress, but the Congressional Budget Office has made it clear that these plans won't be cheap and they may not be enough. Tamara Keith reports.

I just read a beautiful story about a little girl, a movie and a corporation. However, if crying at work might be a problem, you should wait until…

Question: My wife and I have an Adjustable Rate Mortgage on our home with a current interest rate of 6.125%. We recently received two letters from…

In a 5-4 decision, the Supreme Court said a worker has to prove that age was the key factor in an age discrimination case. Bill Radke talks to Paul Secunda, a law professor at Marquette University, about what this means for older workers.

A center point in the debate for the "cash for clunkers" program has been the $1 billion price tag. Beyond the hotly-contested cost, the bill wouldn't just give cash to anyone with a junker. Steve Henn reports.

Steve Chiotakis gets a read of today's markets with Juli Niemann, analyst with Smith Moore and Company in St. Louis.

In a recession this deep, how much should we be worrying about the budget deficit right now? Commentators Will Wilkinson and Matt Yglesias have different takes on the issue.

To celebrate the first official weekend of summer, why not visit your closest national park? Admission to U.S. national parks will be free this weekend and two more weekends this summer. Caitlan Carroll reports.

President Obama is still popular among voters, but his handling of the economy is starting to wear thin with more of them. Voters are especially…

The U.S. has had to do a lot of borrowing to pay for its programs, and IOUs are stacking up. But so much government borrowing is pushing interest rates up higher. Bob Moon explores where borrowing and lending could become unbalanced.

E.U. leaders are backing a draft for a new regulatory system which includes a systemic risk board to spot credit problems. The draft also includes an upbeat note on financial recovery. Stephen Beard reports.

Hopes were high for this summer's box office season, but ticket sales are down so far compared to last year. But some say to wait until the season ends to get the big picture. Ashley Milne-Tyte reports.

Attendance is up at museums nationwide, thanks to cheap-to-free admission when budgets are ever tightening. Curt Nickisch visits museums in Boston to find out what they're doing to get people walking through the door.

The new iPhone 3G S has implemented a few changes that Apple is hoping will help the smartphone compete with the Blackberry in the business world — especially as consumers are cutting back. Jeremy Hobson reports.

A grand jury in Houston unseals an indictment today for Texas billionaire Allen Stanford, who surrendered to the FBI yesterday. The SEC accused Stanford of running an $8 billion Ponzi scheme through his bank in Antigua. Steve Henn reports.

Question: I am a first time homeowner ready to go ahead with the purchase except for the dreaded "lock" of the interest rate. My closing is set for…

Marketplace Morning Report for Friday, June 19, 2009

Marketplace for Friday, June 19, 2009

Analysts and lawmakers are questioning the Obama administration's plan for re-regulating the financial sector. Commentator Thomas Frank says the plan fails to address the largest problem of all — politics.

Dustin Woodman, manager of the Coconino Rural Environment Corps, talks with Kai Ryssdal about what the organization is doing with the $500,000 in stimulus funds it received from the federal government.

Reporter Jeremy Hobson talks with Kai Ryssdal about the Obama administration's proposal to create a new agency to protect consumers, and how it will work.

Treasury Secretary Tim Geithner spent his day defending the Obama administration's proposed financial overhaul to lawmakers. Amy Scott reports there are concerns the plan may give firms 'too big to fail' an unfair advantage.

Yeah, it's a cliche, but that seems to be the most accurate description of the job market at the moment. There are small signs, like this morning…

The Labor Department says the number of people on unemployment insurance rolls fell for the first time since January, which may indicate job losses are slowing. But Tamara Keith reports it's just a sign things are less bad.

I just happened to stumble across these two things today, and they both have the common element of being strange, true and controversial. Dunkin'…

One burning question over financial regulation is this: Does the administration's plan, as Kai Ryssdal put it this morning, codify "too big to…

The Labor Department's weekly report on jobless claims shows that total fell by 148,000. Doug Foreman, Director of Equities at Highmark Capital in San Francisco tells Steve Chiotakis why this is a bit surprising.

The E.U. is taking up financial overhaul at a summit starting today in Brussels. Steve Chiotakis reviews the major points being discussed with European correspondent Stephen Beard.

A little bit of encouraging news on the job front. Continuing unemployment claims fell for the first time since January. Could be a sign of some…

Working around unavailable credit, Mexican communities developed a system called tanda to borrow money from their community. Dan Grech explains tanda rules and explores its benefits and pitfalls.

Lawmakers and interest groups are readying themselves for a debate of Obama's financial overhaul plan. One item under scrutiny: a new Consumer Financial Protection Agency. Tamara Keith reports.

It was a dull and gloomy Paris Air Show, and then came the AT-802 — a machine-gun totting, bomb-friendly crop-duster. But why would a plane used for farming need James Bond technology? Stephen Beard reports.

Proposals are floating around Congress to grant paid leave time for the estimated 30 million U.S. workers not given any. But some critics worry this would burden employers further in an already stressful time. John Dimsdale reports.

Even though Target-date funds are considered a safer investment vehicle for retirement, these nest-eggs still lost much of their value when the economy tanked. Federal regulators are looking into why. Bob Moon reports.

Democratic Congressman Jim Oberstar and the Obama administration disagree on a proposed transportation overhaul. The congressman wants to compensate for lost highway funds by hiking the gas tax. Steve Henn reports.

Marketplace for Thursday, June 18, 2009

Marketplace Morning Report for Thursday, June 18, 2009

The one number that gets repeated over and over in the health care debate is: 47 million Americans have no health insurance. But if you break…

I find this debate over financial regulation fascinating, so I've been scouring the web for a variety of viewpoints on the administration's plan. …

Even in a recession, a lot of people think tech jobs are a safe bet. But American engineers are losing their jobs faster than any other professional sector. Janet Babin reports.

Social networking site MySpace.com is cutting staff and trying to recapture the magic of its glory days. Rico Gagliano reports.

There is a big debate in Congress over the health care system overhaul and whether the government should offer a public insurance option. Commentator Robert Reich says there's only one choice.

A report from the Brookings Institution says that only about 10 of the top 100 cities in the U.S. show signs of economic health. The institution's Alan Berube talks with Kai Ryssdal about how the nation's cities are recovering.

FedEx is reporting more than $800 million in losses for the most recent quarter due to slow manufacturing and gas prices. But the acquisition of Kinko's may also have something to do with it. Joel Rose reports.

Part of the financial system overhaul includes plans for the creation of a new agency, the CFPA, to protect consumers from predatory lenders that hide behind complex contracts and confusing sales pitches. Jeremy Hobson reports.

The Obama administration's regulation plan would give the Federal Reserve powers to oversee any institution that could pose a risk. Amy Scott reports.

After much speculation, the Obama administration has unveiled its plans to regulate the financial system. John Dimsdale reports what the Financial Regulatory Reform Plan entails.

Question: I'm interested in finding a good investment for inflationary times. This would be about 7% of my retirement portfolio; around 10,000 in…

What if you could put money into a vending machine, and instead of a Snickers bar, out came a bar of gold? Well, a German company is making that a…

Some prices are rising, but what's really driving inflation fears? Steve Chiotakis talks to Bill Stone, Chief Investment Strategist at PNC Wealth Management, and also gets word about Obama's financial plan from Marketplace's Steve Henn.

CDFIs are like banks that do risky lending to low-income people that other banks won't, and their services are needed now more than ever. The institutions will be getting help from the stimulus soon, but can't lend to everyone. Tamara Keith reports.

We're waiting for the President to deliver his plan on financial regulation, but an 85-page draft has already been given to the media. My favorite…

China just imposed a "Buy Chinese" policy on its economic stimulus package as demand for its exports remains in decline. But the E.U. is upset with the move, saying it sends the wrong signal. Stephen Beard reports.

The EPA is proposing new rules that would drastically cut mercury emissions and other pollutants from cement plants. But some worry the regulations may potentially be too stringent. Sarah Gardner reports.

Agriculture workers are used to long hours for low pay, but cutbacks and layoffs are making it even harder to get work where jobs were already tough to find. Jeff Tyler talks to farm workers in Tchula, Miss.

Angelenos were thrilled the Lakers took home the NBA title, but weren't so ecstatic to hear the city wanted to foot the bill. So the city found a group of private investors to pay for it. Rico Gagliano reports.

President Obama outlines his plans for fixing the financial system with a set of financial and banking regulations. Steve Chiotakis reviews the larger points of Obama's plan with Marketplace's Steve Henn.

Marketplace Morning Report for Wednesday, June 17, 2009

Marketplace for Wednesday, June 17, 2009

Question: The company I work for offers a 401k, both normal pre-tax contributions and after-tax contributions, and also a Roth-401K. Can you please…

Speaking of a lack of regulation, let's talk about those famously unregulated pools of money called hedge funds. Marketplace's Amy Scott is…

Recessions have a nasty way of messing with people's plans. But for some couples a bad economy is the perfect time for a little addition. Tamara Keith reports.

Kai Ryssdal reviews what listeners had to say about the stimulus package's "Buy American" provision, whether research grants are creating jobs, and how height may affect your success.

By the age of 80, most people have retired. But not Zalman Shapiro, an 89-year-old inventor. He just received his 15th patent for a process that may make diamonds cheaper for jewelry and technology.

Time's Justin Fox talks with Kai Ryssdal about why so many people once believed in the rational market theory, which suggests that the stock market knows what it's doing and is always right, and what the next economic model might look like.

New hedge funds are opening all over the place. But with the average fund losing 20% last year and new regulations around the corner, why? Amy Scott reports.

The British Broadcasting Corporation may be forced to share the revenue it makes from a license fee with commercial rivals. Stephen Beard reports the BBC will fight the plan.

California is broke, and the federal government has rejected the Golden State's bid for a bailout. So, what happens next? Bob Moon reports.

After a dismal April, home construction did surprisingly well in May, depending on how you look at the numbers. So is the bottom of the housing market here? Dan Grech reports.

The President hasn't even announced his plan to regulate the financial industry, but already, there's a lot of skepticism that anything meaningful…

If you're in need of a crock pot, a coffee table or a plastic pony, chances are your neighbor is selling them in their yard this weekend. It's…

How are the markets responding to the Federal Reserve's negative industrial production report? Steve Chiotakis talks to Sam Stovall, Chief Investment Strategist at S&P Equity Research, and Marketplace's Steve Henn.

I would swear that the same housing story is being republished every single month. Here's what the wires said this morning: "Construction of new…

A new Frontline documentary airing tonight tells the tale of Bank of America's rise to its ill-fated takeover of Merrill Lynch. Bill Radke gets the bigger picture from producer Mike Kirk of "Breaking the Bank."

The leaders of Brazil, Russia, India, and China are holding their first BRIC group summit today. The countries' leaders are united in a common goal of playing a bigger part in global bodies. Stephen Beard reports.

Economists agree we're still in a recession, but with the federal government borrowing and spending billions of dollars, some say it's not too early to worry about inflation. Joel Rose reports why some experts are concerned.

The recession has made many companies force unpaid days off on their employees, also known as a furlough. Some companies are offering specials to forced furlough workers, but many just aren't in the mood. Sam Eaton reports.