To the Point
Too Big to Fail - and Still Growing
Banks that were "too big to fail" were rescued from the consequences of bad decisions with taxpayer money. They're beginning to pay it back but, at the same time, they've grown bigger than ever. What does that mean for consumers? Can government get the banks under control before they get reckless again? Also, an update on the fires that are ravaging southern California, and big change in Japan.
By Warren Olney • • 50m ListenBanks that were "too big to fail" were rescued from the consequences of bad decisions with taxpayer money. They're beginning to pay it back but, at the same time, they've grown bigger than ever. What does that mean for consumers? Can government get the banks under control before they get reckless again? Also, an update on the fires that are ravaging southern California. On Reporter's Notebook, Japan's likely new Prime Minister rejects American-style capitalism… or does he?
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In this episode
3 storiesMore Smoke, More Fire in Los Angeles
Speaking this morning at a command center East of Los Angeles, California Governor Arnold Schwarzenegger observed, "We have a lot of fires all over the state of California. We have fires from the northern border all the way south and from the Pacific to the Sierra Nevada – fires, fires, fires."
Read the story8 minToo Big to Fail - and Still Growing
Some banks are paying back their part of the $700 billion in TARP loans -- with interest. But challenging questions remain. America's banks that were rescued as "too big to fail" are now bigger than ever, but smaller banks are failing fast. What's the connection?
Read the story34 minA New Era in Japanese Politics?
Japan's Liberal Democrats have governed the country almost continuously since democracy was established after World War II. Now the new Democratic Party has won in a landslide, based partly on doing away with American-style pro-market reforms.
Read the story9 min
