To the Point
Seven Hundred Billion Dollars Might Not Be Enough
State governments are normally safe investments during tough times. They borrowed big in the recession of 2001, but this time around, billions of dollars might not be available for schools, local governments and police. Also, with a month to go until election day, we preview tonight's McCain-Obama debate.
By Warren Olney • • 1h 0m ListenState governments are normally safe investments during tough times. They borrowed big in the recession of 2001, but this time around, billions of dollars might not be available for schools, local governments and police. Also, will tonight's Town Hall debate between McCain and Obama reflect the campaign attacks we've been hearing four weeks before the election?
Banner image: California Governor Arnold Schwarzenegger discusses state budget crisis
In this episode
3 storiesFed Tries to Help Credit Market
The Federal Reserve has taken its strongest action yet to unfreeze the credit markets. Chairman Ben Bernanke, speaking to a business group in Washington this afternoon, announced "a new facility that will help provide liquidity to term funding markets by purchasing three-month commercial paper and asset-backed commercial paper directly from…
Read the story6 minThe Growing Credit Crisis
President Bush signed the " economic rescue " into law Friday but the stock markets are declining anyway in New York and around the world. Today, the Federal Reserve said it would buy up commercial paper to get lending started again. Will taxpayers be saddled with more debt?
Read the story34 minThe Campaign Gets Nasty Heading into Second Debate
Barack Obama 's campaign has aired what it calls a "documentary" on John McCain 's involvement in the savings and loan scandal of the 80's and 90's. McCain has unleashed Sarah Palin. What will we see and hear tonight?
Read the story9 min
