Doing the numbers is starting to get downright gloomy. Markets in Asia and Europe are dropping by 2 and 3 percent after yesterday's Wall Street plunge on continuing subprime concerns. This time mortgage lender Countrywide was the biggest troublemaker.
Commentator Robert Reich says the full-blown credit crisis of recent weeks is the price we're paying for letting financial entrepreneurs take over our economy, a problem that's not going away unless we level the playing field.
Uncertainty continues to plague stock markets here and around the world. And after an unusual profit warning from Wal-Mart yesterday, overseas investors are particularly concerned that American consumers are out of spending money.
Some pundits are pinning the blame for market uncertainty of late to former Fed chairman Alan Greenspan, but is it fair to second guess 18 years of decision-making in hindsight? Besides, he did warn borrowers two years ago, John Dimsdale reports.
Wall Street wants a rate cut, but some folks are still stuck on inflation worries and hoping to see a bump in the other direction. Meanwhile, the Fed's been happily holding steady. What next? Stacey Vanek-Smith sorts through the speculation.
Goldman Sachs announced it's pouring $3 billion with the help of investors into one of its hedge funds that lost 32% of its value in the past week. It might walk like a bailout and talk like a bailout but, as Amy Scott reports, don't call it a bailout.
Should the Federal Reserve pump money into the system to help out institutional players who took big risks when times were good and money was cheap? Commentator Krishna Guha says that's looking at it the wrong way.
Many of us are feeling some kind of financial pinch at the moment, what with high energy prices, rising school fees, health insurance costs... But don't count on the boss to help you out much. Helen Palmer reports.