Goldman Sachs and Morgan Stanley have become bank holding companies, which means they will now face more government regulation. They won't be able to take as many risks, and they'll make less money, too. Jeremy Hobson reports.
As recent college graduates and current students begin to deal with "real world" challenges, they're also getting ready to head to the polls this November. Sean Cole reports on what they want from the next administration.
Commentator and economist Robert Shapiro says the $700 billion bailout is going to amass so much debt that it won't be possible for the next president to pursue some of the key programs he's promised.
With the bailout plan, we're being asked to take what the government's doing on faith. That seems a bit risky with $700 billion on the line. So, Kai Ryssdal called Jay Light, the Harvard Business School Dean, to get his thoughts.
Treasury Secretary Paulson wants the bailout to be open to all banks with "significant" operations in the United States. That could mean American taxpayers may wind up bailing out more foreign banks than American ones. Stephen Beard reports.
Where's the government going to come up with $700 billion to buy all the bad assets from banks? It'll borrow it, mostly by selling short-term Treasury bonds. But there could be some long-term consequences for the economy. John Dimsdale reports.
The $700 billion bailout plan proposed by Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke is now in the hands of Congress. Maya MacGuineas of the Committee for a Responsible Federal Budget tells Kai Ryssdal she expects the bill to gain in size.
And then there were none. The last two Wall Street investment banks standing have decided to become commercial banks, with the approval of the Federal Reserve. Steve Henn has more on what that means.
Proposals for rescuing financial institutions go to Congress this week, but lawmakers worked through the weekend to get a head start. The budget deficit is expected to balloon. Danielle Karson reports.
Wall Street should have won an Emmy for a dramatic series for last week's events. Stacey Vanek-Smith talks with an economist to get some perspective on it all and a forecast of what's to come.
