The $700 billion bailout plan proposed by Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke is now in the hands of Congress. Maya MacGuineas of the Committee for a Responsible Federal Budget tells Kai Ryssdal she expects the bill to gain in size.
Where's the government going to come up with $700 billion to buy all the bad assets from banks? It'll borrow it, mostly by selling short-term Treasury bonds. But there could be some long-term consequences for the economy. John Dimsdale reports.
Treasury Secretary Paulson wants the bailout to be open to all banks with "significant" operations in the United States. That could mean American taxpayers may wind up bailing out more foreign banks than American ones. Stephen Beard reports.
With the bailout plan, we're being asked to take what the government's doing on faith. That seems a bit risky with $700 billion on the line. So, Kai Ryssdal called Jay Light, the Harvard Business School Dean, to get his thoughts.
Commentator and economist Robert Shapiro says the $700 billion bailout is going to amass so much debt that it won't be possible for the next president to pursue some of the key programs he's promised.
As recent college graduates and current students begin to deal with "real world" challenges, they're also getting ready to head to the polls this November. Sean Cole reports on what they want from the next administration.
Goldman Sachs and Morgan Stanley have become bank holding companies, which means they will now face more government regulation. They won't be able to take as many risks, and they'll make less money, too. Jeremy Hobson reports.
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