To the Point
The Financial Crisis and Unemployment: Is Help on the Way?
As the Dow wiggles ever downward, unemployment in the United States is headed toward 7% or 8%. In Michigan it's already 9%. We look at the prospects for Washington to bail out another industry and for another stimulus package to get the economy moving. Also, can a felony convict be re-elected to the US Senate?
By Warren Olney • • 1h 0m ListenAs the Dow wiggles ever downward, unemployment in the United States is headed toward 7% or 8%. In Michigan it's already 9%. We look at the prospects for Washington to bail out another industry and for another stimulus package to get the economy moving. Also, Republican Senator Ted Sevens has been convicted of seven felonies. Will that hurt or help his chances for re-election in Alaska?
Banner image of entrance to the Daimler Chrysler Toledo North Assemby Plant: Chrysler LLC announced that it will eliminate around 800 employees at its Toledo Jeep Assembly complex, at which the Jeep Liberty and Dodge Nitro are made. Photo: J.D. Pooley/Getty Images
In this episode
3 storiesDow Wiggles Ever Downward, Springs Skyward
After four days of declines, stocks in Asia jumped up today, 14 percent in Hong Kong, 7.8 percent in Tokyo and 15 percent in Seoul, South Korea. One Japanese investment researcher said, "Panic also means opportunities." So what happened on Wall Street ? Jim Browning writes under the byline E. S. Browning at the Wall Street Journal .
Read the story6 minMounting Layoffs a Sign of a Deepening Economic Downturn
The US is expected to lose 200,000 jobs this month and unemployment, now 6.1 percent, could rise to 7 or 8 percent. Xerox, Coca-Cola, Whirlpool, Merck and Yahoo are laying off workers, as are most of the airlines. But cuts are expected to hit the auto industry hardest of all.
Read the story36 minTed Stevens and Sarah Palin: Interesting Times in Alaska Politics
Alaska's Ted Stevens has served in the Senate for 40 years, longer than any other Republican.
Read the story6 min
