Fallout: The Financial Crisis

President-elect Barack Obama emphasized infrastructure when he spoke of his stimulus plan last week. But when it comes to such spending, Commentator Will Wilkinson worries about the risk of oversight failure.

On the heels of its brokerage merger announcement, Citigroup is also expected to sell off several financial services to counter a potential $10 billion loss. Jeremy Hobson reports what the bank might be shedding.

The Treasury Department has invested billions of dollars in bailout money to more than 250 banks. Today it opened up the bailout money to 3,000 small community banks. Now the Treasury plans to compare lending levels between banks that got government money and those that didn't. But will it work? Steve Henn reports.

Lumber mills and timber companies are losing money as the recession hits the homebuilding business. Scott Jagow speaks with Andrew Miller, CEO of Stimson Lumber Company, about the decline of the timber industry and how it's affecting the Northwest, where lumber is big business.

Signs point to the credit markets finally loosening up. Scott Jagow speaks with financial analyst Peter Cohan about why the credit markets may be improving.

To further strengthen the financial system, Federal Reserve Chairman Ben Bernanke is proposing a plan to create "bad banks" to buy up bad assets in exchange for cash or equity. What's a "bad bank"? Ashley Milne-Tyte reports.

Fed Chairman Ben Bernanke spoke at the London School of Economics on the roughly $800 billion recovery plan. He noted that further government action would be needed, and inflation is not a concern. Jeremy Hobson reports.

Many small, healthy banks got some of the first half of the federal government's $700 billion bailout. Critics want to know why they got the cash and what they're doing with it. Tom Banse reports.

Citigroup is expected to announce a merger of its famous Smith Barney brokerage with Morgan Stanley. But what's Morgan Stanley getting out of the deal? And where's it getting the money to buy Smith Barney? From taxpayers? Sarah Gardner reports.