Submerging Markets
Romania, past and present. Mircea Rosca/AP Photo hide caption
Today on Planet Money:
Imagine a global slowdown. The strong, or stronger, countries help the weaker ones. But what if the stronger countries aren't so strong anymore? Just wondering.
-- Alan Greenspan blames the subprime mortgage crisis for the current economic crisis. Listener Chuck Tomlinson of Minneapolis-St. Paul asks whether that's putting the matter too simply.
-- The federal government is now considering which banks to help with a capital injection and which to turn away. Paul Kiel of Pro Publica says taxpayers won't see much of what's happening behind the curtain.
-- And about that global slowdown. Arvind Subramanian describes the situation in so-called emerging markets, places like Romania and India where the economy is suddenly slowing.
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