Hear: The Next Big Bailout

On today's Planet Money:

— When you need help installing a giant computer system, you might call someone like Brian McCaffrey, and these days you might be looking to pay less for that help. The IT recruiter says he's seeing hourly wage cuts of 30 percent for skilled workers on big-ticket projects.

— Another big bailout is on the way, reports the Wall Street Journal. The WSJ says the Treasury Deparment is now aiming to extend help to life insurers as part of the TARP program. It's a complicated endeavor, one that runs the gamut from your premiums to mortgage-backed securities. Rolfe Winkler of Option Armageddon walks us through.

Bonus: Commuters of the world, sing out.

Download the podcast; or subscribe. Intro music: Ernie and the Automatics' "The Good Times (Never Last)." Find us: Twitter/ Facebook/ Flickr

 

Jim Wallace writes from KUOW land:

I thought I would mention that typically here in Seattle traffic is a nightmare, especially from 3pm-7pm for anyone trying to cross one of our two bridges from Redmond into Seattle. However since the banking crisis almost, and especially since the Microsoft layoffs I and my friends have noticed anecdotally that traffic is way better than it used to be.

I don't think Microsoft alone laid off enough people to effect traffic this much, and gas prices are still relatively low... so the question remains, why are there fewer people on the roads? Are they shopping less? Taking the bus more? The change in driving times is fairly dramatic.

For what it's worth, I sometimes think my New York City subway car looks less packed. Rush hour's still a sardine can. But at off-peak times, I do find myself with more elbow room than I expected. When I cycle into work, I'm happy to say, bikers look to be a larger and larger herd all the time.

Further reading: Bad economy holds highway deaths to 1960s levels.