- Thursday, December 4, 2008
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U.K. interest rate drops to new low
The Bank of England cut its main interest rate today by a full percent. The interest rate in the U.K. is now down to its lowest level since the late 17th century -- and it may drop lower down the road. Stephen Beard reports. More»
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Auto bailout is history repeating
The Big Three's conversation with the government over a possible bailout has actually happened before -- in 1979. Alisa Roth has the story. More»
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Health care can be form of stimulus
Can we afford something like universal health care right now? Scott Jagow talks over the idea with economics correspondent Chris Farrell, who explains how we can. More»
Marketplace Off Air
News and views on the day's business and financial happenings.
Highland Fling
Dealbreaker is reporting that 2,800 heads will roll at Royal Bank of Scotland. This morning, Credit Suisse bid au revoir to 5,300 in investment banking. According to Bloomberg, 200,000 bank and insurance jobs have been lost since the financial crisis began.
- Dec 4, 2008 6:51 AM PT — Doug Krizner
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Fewer jobs, fewer buyers
Unemployment checks are now going to more Americans than any time in the last 26 years. Just this morning, AT&T, DuPont and Viacom announced layoffs. Dwindling job security is one reason retail sales were weak last month.
- Dec 4, 2008 5:51 AM PT — Doug Krizner
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Paulson's new plan
The Treasury Department is apparently toying with an idea to drive down mortgage rates. If it works, the Washington Post reports the rate on a 30-year fixed-loan could drop to 4.5 percent. Here’s the story.
The wild card is whether homebuyers will qualify.
- Dec 3, 2008 1:56 PM PT — Doug Krizner
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Dubai Eight Months Later
You may remember last March when Marketplace broadcast its shows from Dubai. Back then a barrel of oil was around 110 dollars, and Dubai was the ripsnorting financial center of the Persian Gulf. Now crude is less than half that value, dropping today below 47 dollars. Take a guess on what’s been happening to Dubai’s economy. The answer is in this story from Business Week.
- Dec 3, 2008 1:19 PM PT — Doug Krizner
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Show me the money...
Looking to get yourself a chunk of the bailout?
Wondering how to go about it?
Vanity Fair’s Bruce Feirstein has the form you need to fill out.
- Dec 3, 2008 9:08 AM PT — Kai Ryssdal
- 1 Comments
Pink slips
Corporate layoffs have been fast and furious, more than a million so far this year. Last month alone the rate of job cuts at U.S. firms was the highest in nearly a decade. Macroeconomic Advisers’ Joel Prakken, quoted in this piece from Bloomberg says, “We’re teetering over the edge of a hill…”
- Dec 3, 2008 7:23 AM PT — Doug Krizner
- 0 Comments
Fallout: America's Financial Crisis
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After the Bell
Listen to Marketplace's review of the week's top stories on America's financial crisis. Subscribe now.
- The Whiteboard »
How credit cards become asset-backed bonds
Mortgages aren't the only financial instruments that get turned into securities. Marketplace Senior Editor Paddy Hirsch explains how companies make money by buying credit card debt and bundling it. Watch the video.
- Getting Personal »
Q: Investing a windfall
I am 63 and have enough to live on from Social Security, some bonds, the rental of a small cottage and the annuity I purchased when I bailed out of the stock market in March. (My intuition about things to come was causing pretty high anxiety when I'd wake up in the middle of the night, because I had half of all I possess in mutual funds.)... Long story short, soon I will have some $45,000 to invest! I feel happy and grateful and sometimes even giddy... If you were in my place, what would you do with the money in this economic climate.... Sarah, Berkeley, CA Read Chris Farrell's answer »
- Special Reports and Series
Taking Stock »
Conversations with individuals who can give us the long view of our economic situation. Get their views.
Here's what I'm doing »
A wide range of people tell how they're handling investments and savings in this tough economy. Get their stories.
What's the fix? »
Economists, financial experts, business leaders and others on how to deal with the current economic crisis. Get a fix.
Who can you trust?
Marketplace Money asks how we got into this financial mess and who we can trust to guide us back to stability. Find out.
Road to Ruin?
Marketplace goes on the road to talk to Americans about the economic challenges they're facing. Hit the road.
- Humor
“The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.”
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