A Downturn for the Stockmarket and the Countrywide Financial Crisis; Peruvian Earthquake Disaster; High School Musical; FilmWeek
A Downturn for the Stockmarket and the Countrywide Financial Crisis
Wall Street has been on a downward spiral in recent weeks, spurred by sharp declines in the sub-prime mortgage market. The most recent victim is Countrywide Financial, which announced yesterday that it has tapped $11.5 billion in emergency loans. Has something gone horribly wrong, or is the market operating as it should? And is it time for government intervention? Joining Larry to talk about the current climate on Wall Street and how it affects the economy as a whole are Guy Cecala, publisher of Inside Mortgage Finance, Harvey Rosen, Professor of Economics and Co-Director of the Center for Economic Policy Studies at Princeton and Kyle Pope, Senior Editor of Portfolio magazine.
Peruvian Earthquake Disaster
The magnitude of Wednesday's earthquake in Peru was 8.0, according to the U.S. Geological Survey. Destruction was centered in Peru's southern desert, about 125 miles southeast of the capital of Lima. Large areas of the nearby cities of Ica and Pisco were flattened. The current death toll, according to Peru's fire department, is now at 510, with more than 1500 injured. Larry talks about relief efforts with Neil Frame of Operation USA and Carol Miller of the American Red Cross.
High School Musical
Larry talks to youth culture experts and a television critic about the Disney Channel's smash "tween" hit franchise, High School Musical. The sequel, High School Musical 2 premieres tonight on the Disney Channel. Joining Larry to talk about this word-of-mouth phenomenon are Marisa Meltzer, co-author of the book How Sassy Changed My Life, Los Angeles Times television critic Mary McNamara and Tina Wells, CEO of Buzz Marketing Group.
FilmWeek
Larry talks with critics Lael Loewenstein of Variety and Jean Oppenheimer of Village Voice Media about the week's new releases including The Invasion, Superbad, Death at a Funeral, Delirious, Splinter, Siete Dias, and The King of Kong.