To the Point
Economic Trouble in an Election Year
The Federal Reserve made a surprise cut in the interest rate today, but the markets dropped anyway, and there's more talk about a recession. Is it coming? Is it already here? Is the stimulus package really about the economy or politics? Also, Jose Padilla is sentenced to 17 years and, in case anyone's paying attention, the Oscar nominations are in.
By Warren Olney • • 1h 0m ListenThe Federal Reserve made a surprise cut in the interest rate today, but the markets dropped anyway, and there's more talk about a recession. Is it coming? Is it already here? Is the stimulus package really about the economy or politics? Also, Jose Padilla is sentenced to 17 years, and there's no Hollywood blockbuster, but the show must go on. We hear about this year's Oscars.
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In this episode
3 storiesJose Padilla Gets 17 Years in Prison
Jose Padilla once was accused of plotting with al-Qaeda to blow up a radioactive "dirty bomb" in the US. But his three-month-long trial for terrorism conspiracy never mentioned those charges. Today in Miami, he was sentenced to 17 years and four months, about half what the government requested.
Read the story6 minEconomic Trouble in an Election Year
For the first time since the markets reopened after September 11, the Federal Reserve today stunned Wall Street by making an emergency cut in interest rates. In 2001, it was a half a percentage point; today it was three-quarters, a week earlier than expected, and bigger than any such cut since 1982.
Read the story35 minThere Will Be Oscars
Last year, the Oscars were dominated by mainstream hits, but this year it's a different story. The pictures with the most nominations did not do well at the box office, although critics liked them. No Country for Old Men and There Will Be Blood lead this year's race with eight nominations apiece.
Read the story8 min
