Kai Ryssdal takes us back to the point at which the financial markets' problems began — five years ago when the Fed made it cheap to borrow money and Wall Street took advantage, devising complicated investment schemes that hid their high risk.
In the year-and-a-half since Fed Chairman Ben Bernanke said the credit crisis would be contained, the markets have kept a mostly cautious stance. But a couple of weeks ago things changed — and not for the better. Bob Moon reconstructs the course of events.
The government's been throwing cash around willy-nilly to bail out Bear Stearns, AIG and Fannie and Freddie. Where's all that money coming from? And how often can Bernanke and Paulson keep going back to that well? John Dimsdale reports.
Commentator David Frum sees the point some are making about the credit crisis — that what's needed to fix things is the strong hand of government. But he strongly disagrees.
In China, three babies have died and more than 6,000 have suffered kidney damage from tainted infant formula. With Chinese factories feeling the pressure of the global economic slowdown, it could be a sign of things to come. Scott Tong reports.
National Football League Commissioner Roger Goodell is warning that the league won't be bringing in as much money as originally predicted. Terry Lefton at the Sports Business Journal got his hands on the commissioner's memo. He talks with Kai Ryssdal.
The tiny Asian kingdom of Bhutan has had cell phones for just a few years, and a choice of providers for only a few months. Now its people are experiencing what happens when a company competes for their business. Lisa Napoli reports.
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