Marketplace®

Daily business news and economic stories

Your tax dollars at work (or not)

Reuters took this photo of a deserted Oklahoma City Mall that is now owned by you, the humble taxpayer. Actually, the Fed owns it, thanks to the…

Reuters took this photo of a deserted Oklahoma City Mall that is now owned by you, the humble taxpayer.

Actually, the Fed owns it, thanks to the $29 billion loan it made to JP Morgan when the bank bought Bear Stearns.

That money was secured by a portfolio of Bear assets. Crossroads Mall is the only bricks and mortar acquired through bailout. The remaining billions are tied up in invisible securities spread across hundreds, if not thousands, of properties.

Anyone wanna buy a deserted shopping center? Anyone?

Latest Episodes

View All Shows
  • Marketplace Morning Report
    2 hours ago
    6:59
  • Marketplace Tech
    4 hours ago
    4:02
  • Marketplace
    15 hours ago
    25:23
  • Make Me Smart
    a day ago
    22:49
  • Million Bazillion
    a day ago
    32:45
  • This Is Uncomfortable
    3 months ago
    35:26