Economic Crisis: Reality and Psychology

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Institutions put in place after the Great Depression are supposed to insure that no such thing can happen again, but major financial institutions are in big trouble. Have the regulators been failing to do their jobs? Will recovery be delayed by a crisis of confidence? Also, former Attorney General John Ashcroft testifies on interrogation before Congress, and the pressure for offshore oil drilling meets concern about global warming as Al Gore tries to change the agenda in Washington. 

Hundreds of customers wait in line to get into an IndyMac Bank, open for the first time since the July 11 federal government takeover of the thrift, on July 14, 2008 in Pasadena, California. Photo: David McNew/Getty Images



Warren Olney