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Sound Money for September 13, 2003
 The week's news with observer James Grant
James Grant, founder and editor of Grant's Interest Rate Observer, talks with Chris Farrell about New York Stock Exchange chair Dick Grasso, the value of the markets, and the second anniversary of September 11. (Sep 13, 2003)
Mutual fund investigation
Last week, New York Attorney General Eliot Spitzer opened an investigation into suspect trading practices in the mutual fund industry. Class-action lawsuits have been filed. The SEC and the Justice Department have entered the fray.
This is a huge blow to the mutual fund industry, which until now operated without much scrutiny, despite governance issues in corporate America and the call for Wall Street firms to rebuild walls between their investment bankers and analysts. Financial journalist Jane Bryant Quinn says mutual funds are still a great vehicle for investors, if they find ones with low fees.
(Sep 13, 2003)
Enron executive jailed
The first Enron executive was convicted of conspiracy and sent to jail this week. Commentator Andy Borowitz says former Enron treasurer Ben Glisan should have no trouble adjusting from the penthouse to the Big House. (Sep 13, 2003)
American depositary receipts
What if a particular foreign stock catches your eye, but it's not traded in the US? Instead of going through the hassle of foreign brokerage accounts and currency exchange, why not purchase American depositary receipts or ADRs. Our in-house investment expert Erica Whittlinger explains. (Sep 13, 2003)
Two-income families struggle to get by
Did you know that middle-class families in the 1970's had more discretionary income than middle-class families today? And that bankruptcy rates for households with children are soaring? Harvard professor Elizabeth Warren and business consultant Amelia Warren Tyagi blame these trends on the rising costs of housing and education in America. Is the only solution not to have kids? Chris Farrell speaks with this mother-daughter team who wrote the book The Two-Income Trap: Why Middle-Class Motheres and Fathers are Going Broke. (Sep 13, 2003)
Listener questions for September 13, 2003
Chris Farrell answers listener questions about: parents helping financially strapped kids, buying a house as a short term investment, bond ladders, what to do with a 401(k) after a lay off, whether it ever makes sense to buy individual stocks, and picking the best index fund.
(Sep 13, 2003)
 A call for clearer fiscal policy
Last Sunday, President Bush addressed the nation about the need for $87 billion more for the mission in Iraq. Chris Farrell says this is another sign that fiscal policy is a mess, and a huge federal budget deficit could undermine the health of the US economy in the years to come. (By Chris Farrell on Sep 13, 2003)
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