There's been a theory that the rest of the world's economies would keep growing even if the U.S. didn't. After a year of subprime mortgage mess, that theory doesn't appear valid. Kai Ryssdal gets the views of economics professor Robert Dunn.
With the nation's biggest investment banks taking body blows and the world's biggest insurer on the ropes, it's not surprising people in the financial markets are a bit hysterical. But what about Main Street and regular people's livelihoods? Mitchell Hartman reports.
Shares in the insurance conglomerate AIG took another dive amid rumors that the Fed's working on some kind of loan package. Meanwhile, mighty Goldman Sachs reported its biggest quarterly drop since it went public. Amy Scott has the roundup.
The Federal Reserve stumped experts today when it kept interest rates at their current level. After all that's been happening, the safe money was on an interest rate cut. Marketplace's John Dimsdale talks with Kai Ryssdal about the surprising decision.
The Fed has not cut inflation since setting it at 2 percent in April, largely because of inflation fears. But turmoil on Wall Street could persuade Fed members to end that steady streak. Jeremy Hobson reports.
The Lehman Brothers debt is estimated at $600 billion — an unprecedented amount. Now that the company has filed for bankruptcy protection, the more valuable assets could go quickly. John Dimsdale reports.
Treasury Secretary Henry Paulson is saying enough is enough with government bailouts. So, what will happen with troubled insurance company AIG? Scott Jagow takes the question to the head of a British think tank.
Lehman Brothers is filing for Chapter 11 bankruptcy, and Merrill Lynch has been snapped up by Bank of America. What's next in the mortgage-crisis fallout? Bob Moon takes us through all the changes.
After 9/11, Lehman Brothers moved its headquarters from Wall Street to near Times Square, where the new building's garish light displays fit right in. That didn't put it on the official tourist map — until today's events. Sally Herships reports.
There's no way to know now what the net effect of the events of this weekend are going to be. Surely they'll be fodder for authors and analysts for decades. Commentator and business historian John Steele Gordon says it was bound to happen.
