Listeners' Money Questions Answered

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Congress is promising quick action on a plan to buy up soured assets, such as bad mortgages, held by troubled banks and other institutions. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke are crafting a proposal, which they plan to soon deliver to lawmakers. David Wessel of The Wall Street Journal and NPR's Adam Davidson answer some questions from Steve Inskeep and listeners about the financial crisis.

Correction Sept. 25, 2008

In the interview, we answered a listener's question about whether his money was safe in a mutual fund at the brokerage Edward Jones by saying, "[T]hey are not FDIC-insured. ... no, your money is not safe in the sense that it's insured by the government." The answer referred to investment risk and the fact that mutual funds can decrease in value; if Edward Jones were to go bankrupt, the listener's account would in fact be safe because the company is insured through the Securities Investor Protection Corp.



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