Big losses on Wall Street continue, crisis looms

Programs & Series | Midday | Topics | Politics | Business & Industry | People | Gary Eichten: A Profile | Types | Interviews | Commentary | Call-In | Economy |
September 17, 2008
Gary Eichten - Host, Chris Farrell - Commentator, Louis Johnston - Commentator
Listen: Big loss on Wall Street
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With Lehman Brothers, Merrill Lynch, AIG, and other financial institutions in turmoil on Wall Street, an unemployment rate at 6.1 percent (a five-year high), and a housing market still slumping, experts Chris Farrell and Louis Johnston join Midday to discuss the current economic crisis.

U.S. stocks continued to drop for the second consecutive day, following prior day’s Dow Jones Industrial Average plunge of 4.4 percent or 504 points, being the worst single day loss since the terrorist attacks of September 2001.

Farrell is MPR's chief economics correspondent.

Johnston is economics professor at St. John's University and the College of St. Benedict.

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