Recessionary fears have really gone global now. And on Wall Street, some wondered if the Dow would drop low enough to trigger "circuit breakers," which halt trading. Kai Ryssdal turns to Jeremy Hobson for perspective.
If recent business disasters prove anything, it's that some people never learn. Kai Ryssdal talks with the authors of "Billion Dollar Lessons," a book on how the same mistakes caused 750 companies to fail.
The plan to help homeowners facing foreclosure will cost $40 billion, and the money would come from the original pool of bailout money. But commentator Andrew Caplin resurrects an old idea that doesn't involve all that cash.
The Federal Reserve has bailed out Fannie Mae, Freddie Mac, Bear Stearns, Lehman Brothers. And there's more to come. The total is estimated at $1.4 trillion. Wondering where that money comes from? Rico Gagliano finds out.
Hundreds of billions in losses were expected from Lehman Brothers' credit default mess. But the reality wasn't so disastrous after all — more like $5 billion. New York City Bureau Chief Amy Scott reports.
GM is suspending its contributions to employee 401k's, a rare step that affects thousands of GM workers. Will other companies follow suit as they struggle to cut costs? Jeremy Hobson has the story.
Former Fed Chairman Alan Greenspan told Congress he's "shocked" at the financial meltdown. He did concede his belief in deregulation was flawed, but Nancy Marshall Genzer asks, did Greenspan really not see this coming?
The government's financial bailout team is turning its attention to helping struggling homeowners avoid foreclosure — finally, some would say. Washington Bureau Chief John Dimsdale has details.
Taxpayers are bailing out huge Wall Street banks because their collapse would spell doom for the financial system. But commentator Robert Reich thinks it's odd to also allow those companies to consolidate and get even bigger.
The Fed is jockeying to control the interest rate on loans that banks make to each other. Who cares? You should. Those rates affect the ability of consumers and businesses to get loans. Nancy Marshall Genzer reports.
