To the Point

GM and Chrysler may be on the verge of bankruptcy, but auto sales are declining so fast the entire industry is in trouble. We assess the prospects for its survival and what the future might look like. Also, Capitol Hill outraged at AIG, and democracy and instability  in Pakistan.

Two thirds of the US economy depends on consumer spending, and credit cards account for a big proportion of that. But with more and more people struggling to pay their bills, credit card companies are now making it harder. Is anyone looking out for consumers? Is there a need for reform? Also, AIG audaciously issues $165 million in bonus payments, and endangered languages.

President Obama says he has no choice between getting the economy moving now while simultaneously rebuilding it over the long term. So he’s being criticized for doing too much and for not doing enough. We update the first eight weeks. Also, signs of life in the economic darkness, and Cramer versus Stewart on cable TV.

Bernard Madoff violated the trust and burned up the fortunes of 4800 people. He's likely to spend the rest of his life behind bars. But until now, has he been protected -- by a de-regulated financial system and a culture of greed? Also, the Iraqi shoe-thrower gets three years, and another Obama appointee steps down, this time from a high-level intelligence job.

Climate change and the need for clean energy might revive America's nuclear industry but, will it?  High cost and the fear of terrorism are still major issues, and without Nevada's Yucca Mountain, deadly nuclear waste has no place to go. Also, President Obama's big earmark problem, and the UN has been marking time on illegal drugs. 

Forget the "axis of evil."  Economic recession now threatens political upheaval in important parts of the world, with national security consequences here in the US. We look at potential sources of trouble today. Is Washington paying attention? Also, stocks rally on news from Citibank, and the Dalai Lama calls Tibet a "hell on earth."

The Obama budget and tax plan would shift America's wealth from the top down. Is it time to close the gap between rich and poor or would increased taxes stifle growth by removing incentives for the wealthy to keep on working?  Are there other causes of income inequality? Also, a turnaround on stem-cell research, and a promise to crack down on defense contractors.  Is Obama up to the job?

Telecommunications technology is changing so fast that federal regulators can barely keep up.  We talk about Internet access, neutrality and openness as seen by the Obama Administration. Also, unemployment reaches an “astounding” level, and the return of daylight savings.

American Insurance Group, the world's biggest insurance company, is getting history's biggest bailout.  But where are almost $200 billion in taxpayer dollars ending up? The Federal Reserve told a senate committee today that going public could destroy AIG, putting at risk the world's financial system. We update the hearing and get the background. Also, “substantial doubt” about GM's ability to survive, and Russia and Iran are on the agenda as Hillary Clinton attends her first meeting of NATO.

No place in America is recession proof, but some places are being hit much harder than others.  Today we find out where it's worst and why, and ask what communities will need most to help them to bounce back.  Also, new details on the Obama Administration's foreclosure prevention program, and a sitting head of state is indicted for crimes against humanity.