Hear: Uncle Sam Plays 'God'
Today on Planet Money:
The bad news out there hits home, with the stock market falling below 8,000 and credit market indicators still in tough territory. Meanwhile, U.S. officials are now deciding which banks should get a potentially life-saving injection of public capital, and which shouldn't.
-- Charles Peabody of Portales Partners says the government is "playing God" with the banks — and maybe playing politics, too.
-- Listener Ryan Stotland sends a song for the crisis. He recorded "A Central Banker's Dilemma." Because, you know, why not?
Download the podcast; or subscribe. Intro music today: The Astroturf's "A Central Banker's Dilemma." Opening news clip from Rep. Barney Frank, on Morning Edition. Follow our Twitter feed. Join our Facebook group.