Dec 17, 2008

Marketplace for Wednesday, December 17, 2008

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Segments From this episode

OPEC makes record cut in production

Dec 17, 2008
Alarmed by the plummeting price of oil, OPEC ministers today announced a record cut in future output -- 2.2-million barrels per day beginning Jan. 1. Even so, prices on world markets hit four-year lows today. John Dimsdale explains why.

Dollar drops on Fed rate cut

Dec 17, 2008
The dollar has dropped dramatically against key foreign currencies. It now stands at a 13-year low against the yen, and it's back to October lows against the euro. But currency experts expect the U.S. economy to bounce back before…

How did SEC miss $50 billion fraud?

Dec 17, 2008
Bernard Madoff's alleged Ponzi scheme is just the latest high profile mistake made by the SEC. Chairman Christopher Cox has launched an internal probe, and there are many more investigations to come. Steve Henn reports.

Time to get your taxes in order

Dec 17, 2008
You've got two weeks to get your finances in order, when it comes to what you'll be paying Uncle Sam in income taxes. Tess Vigeland talks with the Wall Street Journal's Tom Herman to get some helpful hints on reducing…
Tax form with pencil pointing to "Amount you owe"
taxextension.info

Decoder: Futures

Dec 17, 2008
When futures traders buy grain, oil or other commodities, they're paying what they think those products will be worth in several weeks or months. How does the process work? Rico Gagliano explains in The Marketplace Decoder.

More harm than good in state cuts

Dec 17, 2008
A majority of states face massive budget deficits. Unlike the federal government, states have to balance their budgets. But the cuts needed to make that happen may only make things worse. Sam Eaton reports.

In financial crisis, it's still a democracy

Dec 17, 2008
There's been a lot of talk about how much it will cost to keep the Big Three automakers in business. But Commentator Robert Reich says there's more on the line than just money.

He's successful -- and undocumented

Dec 17, 2008
A small businessman who runs a car repair shop in Minneapolis is doing rather well these days, as customers try to extend the lives of their beaters. But he has a big obstacle to success -- he's an undocumented…

Music from the episode

Hold On Lowell Fulson
Disciples of California The Skygreen Leopards
Sun Goddess (feat. Ramsey Lewis) Earth, Wind & Fire, Ramsey Lewis

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