To the Point
Is Italy's Economy Too Big to Fail, but Too Big to Bail Out?
Greece seems to be getting its economic act together, but Berlusconi's Italy is another matter. Also, rioting after Paterno ouster, and candidate Rick Perry's latest gaffe.
By Warren Olney • • 50m ListenGreece at least appears to be getting its economic act together, but Berlusconi's Italy is another matter. We hear about the billionaire Prime Minister who's promising to resign, and what Italy's potential bankruptcy could mean for the rest of the world. Also, rioting after Penn's Paterno ouster, and Republican presidential candidate Rick Perry's latest gaffe.
Banner image: (L-R) Greek Prime Minister George Papandreou who formally stepped down on November 9, 2011 and Italian Prime Minister Silvio Berlusconi who on November 8, 2011 announced that he will resign this month. Photo by Aris Messinis/AFP/Getty Images
In this episode
3 storiesRioting in State College, Penn after Paterno Ouster
After Penn State trustees fired legendary football coach Joe Paterno, thousands of students stormed downtown State College, Pennsylvania, chanting his name. This morning, Paterno's replacement spoke to reporters.
Read the story8 minGreece Has Been Scary Enough, Now There's Italy
When it comes to the troubled economies of the Eurozone, "contagion" is what economists, bankers, traders and political leaders fear most. Now the focus has shifted from Greece to Italy. Greece now has a unity government led by a banking technocrat pledged to avoid bankruptcy, however unpopular austerity measures might be.
Read the story34 minRick Perry in Damage Control Mode
During debates with other Republican presidential candidates, Texas Governor Rick Perry has been plagued by verbal gaffes and other mistakes. Last night in Michigan, it got worse than ever, when Perry said that, as President, he would eliminate three federal departments – but then blanked and couldn't name the third.
Read the story9 min
