As of Friday morning, global stock markets had been staging major rallies after news of a possible government plan to rescue banks from bad mortgage debt. But there have been troubles on Wall Street all week. And everyone wants to know when the troubles will hit Main Street. New York Times economics writer Louis Uchitelle has a suggestion: Look at your credit card statement.
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In the last two weeks Wall Street has taken a serious beating. Not only is the economy up for grabs, but jobs are too, especially for anyone working in the financial sector. For those who have already gotten their pink slip, or fear it’s en route, The Takeaway offers tips from Marci Alboher, who writes the New York Times' "Shifting Careers" blog. She’s been culling advice for financial professionals who are — or will be — pounding the pavement.
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The Federal Reserve Board gave AIG $85 billion to avoid a fire sale of its assets. Just what does this mean for consumers? After riding an economic rollercoaster this week, should consumers hang on for what is next on the scene?
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The stock market has taken a hit the likes of which haven't been seen since the attacks of Sept. 11, 2001. Investors reacting to the bankruptcy filing of Lehman Brothers and Bank of America's purchase of Merrill Lynch sent the Dow plunging more than 500 points. Rob Lieber, New York Times "Your Money" columnist, answers questions about your personal finances.
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Investment bank Lehman Brothers is continuing its struggle to stay alive today. The stock price is in free fall; its shares fell as much as 11 percent to $3.75 in early electronic trading, after investors rejected a survival plan floated by the company on Wednesday. Now executives are looking for someone to buy the company, or at least make a major investment in it.
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Lehman Brothers, the nation’s fourth-largest securities firm, is struggling to stay alive after investors rejected its survival plans. The company’s stock plummeted a further 40% after losing half their value earlier in the week. Lehman executives are trying to find a buyer or investor to save the bank. Ben White, a reporter for the New York Times, discusses the issue with The Takeaway.
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Guest: James Politi, Financial Times reporter
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Times are tough, so people are turning to credit more and more. The Federal Reserve Board says the rate at which consumers borrowed money in June increased more quickly than in any month since November.
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More than forty million people’s credit and debit card details were recently stolen in the nation's largest identity theft crime ever. What can you do to keep your good name?
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As credit card companies continue to descend upon college campuses, Congress is threatening to make it more difficult for students to qualify for credit. But is Congress protecting students from debt or is it infringing on students’ rights?
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Is the United States a nation with a fundamental misunderstanding of debt, financing and budgeting? "Freakonomics" author Stephen Dubner and a number of economics say it is. Dubner looks at how an absence of financial education hurts us during times of economic instability.
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Keeping up with the city's ever-evolving club scene is a part-time job. Joining us to give us the latest overview of who's in, who's out -- and who's moved -- are Time Out New York music editor Mike Wolf, Le Poisson Rouge co-owner David Handler, and Galapagos director Robert Elmes.

Our blog: John Schaefer on New York's club shuffle
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