Photo: #Demonstrators protest the proposed $700 billion Wall Street bailout in front of the New York Stock Exchange in the Financial District in New York on September 25, 2008. In response to the global financial crisis, protesters, from a variety of activist groups, denounced the capitalist system, Wall Street and the administration of President George W. Bush.
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Demonstrators protest the proposed $700 billion Wall Street bailout in front of the New York Stock Exchange in the Financial District in New York on September 25, 2008. In response to the global financial crisis, protesters, from a variety of activist groups, denounced the capitalist system, Wall Street and the administration of President George W. Bush. (NICHOLAS ROBERTS/AFP/Getty Image)

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Another bank bites the dust

Broadcast: Midday, 09/26/2008, 12:00 p.m.

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In the largest bank failure in American history, federal regulators seized Washington Mutual, the country's largest savings and loan, and sold much of the company to J.P Morgan Chase. Meanwhile, Congress is still working to hammer out a rescue deal for Wall Street. Midday explores the latest in financial news.

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  • Chris Farrell: Minnesota Public Radio's chief economics correspondent
  • Louis Johnston: Economics professor, St. John's University and the College of St. Benedict

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