When the investment firm MF Global filed for bankruptcy Monday, it told regulators it couldn't account for hundreds of millions of dollars in customer accounts. The missing money caused negotiations to save the firm from bankruptcy to fall apart.
Robert Siegel speaks with Ken Bensinger, business reporter for the Los Angeles Times, about used car sales lots known as "Buy Here Pay Here" dealerships. Bensinger has written a three-part investigative series on this type of business. He tells Robert that "Buy Here Pay Here" lots are very common, and they prey on people with low incomes and bad credit. They charge high prices and very steep interest rates. And in many cases the buyer defaults on the loan, and the car is repossessed and resold again and again.
Bank of America canceled plans to impose a $5 monthly fee on customers who use debit cards in stores and restaurants. The bank's original decision to charge the fee came under sharp attack from consumer groups and individual customers.
Many of those seeking temporary work or extra cash may be turning to retailers this season, but they'll face stiff competition. NPR's Senior Business Editor Marilyn Geewax says job hunters may have better luck when submitting their applications to warehouses, Fed Ex, and similar companies. She speaks with guest host Allison Keyes.
The company is teaming up with a network of community-based financial institutions, and beginning Tuesday anyone can make a tax-deductable contribution at a Starbucks store or online to the Create Jobs for USA Fund. The money will go to companies so they can hire or retain American workers.
Solano County, Calif., between San Francisco and Sacramento, has a great climate, diversity and until recently, stable neighborhoods. But now it has the second-highest foreclosure rate in the country. Residents here long for different economic times, like when they were growing up.
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