To the Point
Re-Regulating a Failed Financial Industry
In 2002, when Wall Street scandals like Enron and WorldCom rocked the business world, the government prosecuted 513 cases of securities fraud. In the first eleven months of 2008, there were just 133 prosecutions. Also, Israel continues its Gaza offensive, and Little Bill Clinton's American Life, a year-long story about a young refugee from Africa. Sara Terry Guest hosts.
By Sara Terry • • 1h 0m ListenIn 2002, when Wall Street scandals like Enron and WorldCom rocked the business world, the government prosecuted 513 cases of securities fraud. In the first eleven months of 2008, there were just 133 prosecutions. What has happened to the nation's system of securities regulation? What is needed to reform it? Also, Israel continues its Gaza offensive, even as officials consider a truce, and a year-long story about the life of a young African refugee, his family and the remarkable school that is teaching him about America. Sara Terry Guest hosts.
Banner image: Secretary Henry M. Paulson (2nd-L), Fed Chairman Ben Bernanke (L), FDIC Chairman Sheila Bair (3rd-L to R), Timothy F. Geithner, CEO of the Federal Reserve Bank of New York, Comptroller of the Currency John C. Dugan, SEC's Christopher Cox, Chairman of the Commodities Futures Trading Commission (CFTC) Walter Lukken, and Director of the Office of Thrift Supervision (OTS) John M. Reich participate in a news conference about the market stability initiative. Photo: Mark Wilson/Getty Images
In this episode
3 storiesGaza Offensive Continues While Officials Reportedly Consider Truce
After four days of air strikes against Hamas targets in the Gaza Strip, Israeli officials are reportedly considering a temporary truce to give Hamas militants an opening to stop firing rockets on Israel. But earlier today Defense Minister Ehud Barak told the Knesset that Israel would wage "an all-out war against Hamas and its kind."
Read the story6 minCan a Broken Financial System Be Fixed?
Where were the regulators? With an economy in meltdown and one financial scandal after another making breaking news, it's a question that won't go away. Were government watchdogs muzzled by de-regulation or just asleep on the job? Who was regulating whom?
Read the story34 minA Day in the Life of 'Little' Bill Clinton
A year in the life of 'Little' Bill Clinton is the the premise of an unusual commitment to story-telling by the Christian Science Monitor, which is following Little Bill and his family, and the charter school he attends in DeKalb County, Georgia.
Read the story8 min