Marketplace for Tuesday, March 4, 2008
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Segments From this episode
Federal Reserve Chairman Ben Bernanke called for mortgage lenders to help defaulting homeowners by reducing the principal they owe on their mortgages. John Dimsdale reports banks are reluctant to follow the advice.
The Hope Now Alliance has modified about 150,000 subprime loans since the federal mortgage program's inception. Tess Vigeland speaks with Treasury Secretary Henry Paulson about the program and other government efforts to fix the mortgage crisis.
Citigroup's shares dropped 4% after the leader of a Dubai-owned investment firm stated that it will take "a lot more money" to rescue the struggling bank. Bob Moon reports on how Middle East investors influence the market.
Botox maker Allergan Inc. received a subpoena for documents related to the anti-wrinkle injection. The company believes the subpoena relates to alleged off-label promotion of Botox to treat headaches. Jeff Tyler reports.
In spite of a slowing economy, Atlantic City plans to spend almost $10 billion on a new wave of casino projects. The city is betting on a new demographic of gamblers to spruce up the local economy. Joel Rose reports.
On the anniversary of President Roosevelt's first inaugural address, we look back on how he used the New Deal to help end the Great Depression. Tess Vigeland speaks with former Labor Secretary Robert Reich about how New Deal principles could be applied to our current economic situation.