For 18 years, from 1987 to 2006, Alan Greenspan was chair of the Federal Reserve Board — the United States' central banker, in charge of steering the nation's monetary policy. His every word was scrutinized by markets, read like tea leaves by market makers and investors looking for clues to his thoughts on the economy's health.
Pulitzer Prize-winning business columnist Gretchen Morgenson talks about the subprime mortgage crisis and its effects on the markets and on the economy. Morgenson, an assistant business and financial editor for The New York Times, has covered the financial markets for The Times since 1998.
Perplexed by the U.S. economy? You're not alone. Law professor Michael Greenberger joins Fresh Air to explain the sub-prime mortgage crisis, credit defaults, the shaky future of other types of loans and what we can expect from the U.S. financial markets.
Humans aren't the only ones smarting from the economy's downturn: Animals are also feeling the sting. Stephanie Shain, director of outreach for companion animals at the Humane Society of the United States, explains.
Jason Furman has been given the task of formulating Barack Obama's economic policy. He's the presidential hopeful's top economic adviser, and he will talk about where Obama stands on the most pressing economic issues.
The bankruptcy of financial services giant Lehman Brothers and the 500-point drop in the stock market on Sept. 15 have sent shock waves through the financial community. Law professor Michael Greenberger discusses the potential ramifications of the recent turmoil.
Nobel laureate Paul Krugman believes that increased public spending — akin to the efforts of the New Deal during the Great Depression — is the best way to escape the financial crisis and regain American global leadership.
Macroeconomist Dean Baker sees opportunity in the current economic crisis. In a recent editorial for The Guardian, Baker recommended that President-elect Barack Obama boost the economy by spending on national health insurance.
Economist Simon Johnson discusses the next phase of the financial bailout. In the May issue of The Atlantic Monthly, Johnson insists that the U.S. government will have to get rid of its "financial oligarchy" to regain economic stability.
Journalist Gillian Tett warned about the problems in the financial industry long before many of her colleagues. In her new book, Fool's Gold, Tett examines the role J.P. Morgan played in creating and marketing risky and complex financial products.
Director Jason Reitman likes to fill his movies with tricky characters, and then put them in situations that test their convictions. His latest project, Up in the Air, is no exception: George Clooney's character has made a career of firing people.
Michael Lewis' new book The Big Short chronicles the 2008 financial collapse through the investors who realized what was happening to the U.S. economy while it was happening -- and then made a fortune by betting against the markets.
Gretchen Morgenson, who covers the world financial markets for The New York Times, discusses the investigations into Goldman Sachs by the Securities and Exchange Commission, the Justice Department and a Senate subcommittee — and reflects on the role Goldman Sachs played in the financial crisis.