NPR's Planet Money reports: "Port-au-Prince's biggest tent city -- population 50,000 -- sprung up on a golf course soon after the earthquake. Almost as quickly, an informal economy appeared, complete with a makeshift movie theater and lots of full-service beauty salons that compete with each other for business." Click through to watch the video.
NPR's Planet Money weighs the significance of Wal-Mart's announcement that it will add 400 more money centers in its stores by year's end, adding to the 1,000 existing centers. They aren't banks -- rather, they're for bill paying, check cashing, and pre-paid Visa cards. "That puts Wal-Mart at the center of a potentially big flow of money that's largely outside of the traditional banking secto
Planet Money explains how Repo 105 worked. "But when Lehman Brothers wanted to make it look like it wasn't borrowing so much money, the company used a special technique to get around this rule. It did repo deals where it took slightly less cash than the asset was worth. For example: If Lehman owned a bond that was worth $105, it would "sell" it on the repo market for $100. (The &quo