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Hear: Globe, Dow Spin Fast

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Hear: Globe, Dow Spin Fast

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Hear: Globe, Dow Spin Fast

These are the times. This is the sign. Caitlin Kenney/NPR hide caption

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Caitlin Kenney/NPR

Hear: Globe, Dow Spin Fast

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Today on Planet Money:

The Dow Jones Industrial Average veered this way and that, as investors listened to President Bush, waited for a press conference by Treasury Secretary Paulson and wondered whether the G7 summit might lead to big changes in the world financial system. The answer's in: The U.S. is buying banks.

Ira Glass of This American Life talks Fannie Mae and Freddie Mac with New York Times reporter Charles Duhigg, who knows. Don't miss the special edition of This American Life this weekend — go ahead, understand the economy.

Larry Ausubel tells David Kestenbaum how the government might auction off whatever toxic assets it buys.

— A listener asks whether her mortgage company might suddenly demand all its money back. Jack Guttentag, aka the Mortgage Professor, rings up an answer.

— We meet panhandler Ron Martin, who's found his niche in the faltering global economy.

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