Low down on financial woes
The unusual combination of credit crunch, jump in foreclosure rates and high prices for food and oil have everyone from policy makers to consumers reeling. Congress is trying to pass a bill that might prevent more homeowners from losing their homes. Fed Chairman Ben Bernanke also attempted to reassure Republican lawmakers the economy may yet avoid deep recession. Midmorning offers a primer on these strange economic times.
- David Leonhardt: Staff writer for The New York Times Magazine. His column on economics and business, Economic Scene, appears on Wednesday in The New York Times.