Archive - Sep 15, 2008

The bankruptcy of Lehman Brothers, Bank of America's buy out of Merrill Lynch, the possible fall of major insurance company AIG, is the latest in an unstable market economy.  This comes after the government bailed out Freddie Mac and Fannie Mae recently and the government's escort of a Bear Stearns take over. 

Nomi Prins is former Managing Director at Goldman Sachs and a Senior Fellow at the public policy organization Demos talks about what she things the Presidential candidates need to be shaping their policies for market stability.

CUT: "… We need to rethink the banking industry. …Neither one of them are actually saying that."

• Lehman Bankruptcy, Merrill Lynch Buy Out Spell Out Financial Disaster
• Did De-Regulation Contribute to Wall Street Shakeup?
• The Houston's Homeless Affected by Hurricane Ike
• Burmese Activists Petition for Seat at the United Nations
• You Write, We Listen: Covering The Treatment of Elliot Hughes at the RNC
• Peter Camejo Dies at 68

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• Pakistan Turns Back US Troops
• Opposition to Pipeline in Ireland
• MEND Steps Up Violence in Niger Delta 
• Mexican Prisoners Riot
• Zimbabwe Leaders Sign Power Sharing Deal
• Public Land for Private Development?

The economic landscape changed dramatically overnight as two financial powerhouses folded. Merrill Lynch agreed to a buyout by Bank of America, and Lehman Brothers filed for bankruptcy. FSRN's Tanya Snyder reports on the Wall Street shakeup.

As the global economy attempts to make sense of one of the largest shake ups in the market, questions are swirling especially about how heavy this crisis will grow. The bankruptcy of Lehman brothers and Bank of America's take over of Merrill Lynch is nothing new this year. The government bailed out housing giants Freddie Mac and Fannie Mae two weeks ago, and it peddled a buy out of Bear Stearns just before it went under. To make a bit of sense of this, Washington Editor Leigh Ann Caldwell spoke with Nomi Prins, former Managing Director at Goldman Sachs and a Senior Fellow at the Public Policy Center Demos.

Hurricane Ike pounded the Texas coast early Saturday morning, leaving thousands without power...while lines form for blocks waiting for what little fuel remains in the city to power generators.  With lessons learned from Hurricane Rita three years prior, local and federal officials congratulate themselves on a job well done.  There has been little to no mention of how Houston's homeless population weathered the storm.  From Houston, Rachel Clarke and Katie Heim have more.