Wall Street turmoil, Main Street worries
After yesterday’s big sell-off, Wall Street was waiting for today’s market reports. Could America’s biggest insurer survive a ratings cut? Would the Federal Reserve lower interest rates?
Financial institutions most Americans don’t even think about are now front and center in the presidential campaign. The country’s biggest insurer — American International Group, or AIG — is the latest major player whose troubles threaten economic security. At the same time, ATM’s are still dispensing cash, credit-card offers arrive in the mail and it’s even possible to get a mortgage.
On "To the Point," the latest from Wall Street, what John McCain and Barack Obama are saying, and what’s at stake for ordinary Americans.
Guests:
– Greg Ip: Economics Reporter, "Economist" magaqzine
– Daniel Gross: Columnist, "Newsweek" and "Slate"
– Mark Zandi: Chief Economist, Moodys Economy.com
– James Galbraith: Professor of Government and Economics, University of Texas at Austin
Hosted by award-winning journalist Warren Olney, "To the Point" presents informative and thought-provoking discussion of major news stories — front-page issues that attract a savvy and serious news audience.