Worst May Not Be Over For Wall Street

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The Federal Reserve's decision to lend AIG $85 billion did little to stem losses on Wall Street Wednesday. Stocks closed down as investors worried that the financial turmoil could soon spread to big names, including Morgan Stanley and Goldman Sachs.

MATT MILLER: When the Forbes 400 gets richer, people get more jobs, there is more innovation, there is more capitalism, and more capitalism means more money for everybody. When the Forbes 400 gets stagnant, and you see the economy in a complete lockdown, that's problematic for you and I.

INSKEEP: It might also be worrying for the museums, and libraries, and schools that depend on donations from these billionaires, since many of them are big philanthropists. One thing did not change in the Forbes 400. The richest person on the list is still Bill Gates. And that's the business news on Morning Edition from NPR News. I'm Steve Inskeep.


And I'm Renee Montagne.

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