Fallout: The Financial Crisis

States with double-digit unemployment numbers are finding that cuts to local government are inevitable. Miami-Dade county has reached 10.6%, and every county employee is getting at least a pay cut, if not worse. Dan Grech reports.

Millions of homes are standing vacant in the United States. And yet, housing starts are up this month, seemingly defying the laws of supply and demand. Kai Ryssdal talks to home builder Dean Mon to see why housing construction is up.

President Obama wants a plan for health care reform before Congress goes on recess. There is a lot of talk about how the changes will help patients and doctors, but lobbyists are controlling the discussion thus far. Steven Henn reports.

As New Jersey reels from recession, Gov. Jon Corzine's connection to Wall Street is proving to be a toxic asset in his re-election campaign. Jeremy Hobson reports.

Kai Ryssdal talks with CNBC financial correspondent David Faber about his insights into the cause and effects of the recession, and his new book, "And Then the Roof Caved In," about the beginning of the financial crisis.

CIT received $2 billion from the Fed last fall, but it won't be getting seconds from Washington. What does that mean for the small businesses that depend on loans from the company? Steve Henn reports.

Research firm Dun & Bradstreet is predicting a 60% increase in bankruptcies in the U.S. -- bad news for most people, but good news for a class of investors named after a certain scavenging bird. Kai Ryssdal talks to "vulture investor" Mark Sorensen.

The California Public Employees' Retirement System, or CalPERS, is suing the country's three largest credit-rating agencies for "negligent misrepresentations." But the First Amendment is likely to come into play. Bob Moon reports.

Things have gotten worse for CIT, one of the country's largest lenders to small and mid-sized businesses. Some customers are drawing down their credit lines, and the government is trying to figure out if CIT is too big to fail. Jeremy Hobson reports.

To turn the economy around, the Obama administration is employing many strategies used in financial crises of the past. But commentator K.C. Cole says the size of the current crisis calls for a "qualitatively different solution."