Marketplace: Monday, September 20, 2004

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A look at today's markets (closing numbers)
DOW 79.57 (0.77%) ; NASDAQ 2.03 (0.11%) ; S&P 500 6.35 (0.56%)

Newscast To appreciate this story you have to understand that laws to reform campaign finance weren't given the Supreme Court's OK until December of last year. And at the time, the feeling was "phew", if we had to wait much longer, there might be chaos. The Federal Election Commission issued rules to give everyone a sense of what was permissible and what wasn't. OK for independent groups to raise and spend money, not OK to coordinate with official campaigns... Another deadline is fast approaching: September 22nd. If by Wednesday certain conditions are not met, Libya is taking billions of dollars off the table. $2.7 billion to be precise - money promised to 270 families of the victims of the midair bombing of Pan Am flight 103. Today the Bush Administration took formal steps to keep the Libyan deal from unraveling... It's been almost three years since one of the most spectacular corporate collapses in the history of American business. Finally, the first criminal trial in the Enron scandal is getting underway in Houston. Two former Enron executives and four ex-bankers at Merrill Lynch face charges they conspired to artificially boost the energy company's earnings... The economy is a bit spongy. And interest rates are so low, it would be hard to imagine the Federal Reserve rolling them even lower. No one thinks that's going to happen when Alan Greenspan and his team huddle in Washington tomorrow. The real question is whether the fed might raise short term interest rates again by a quarter of a percent or hold steady. Listen to all newscast items

Features Tobacco - the federal approach You may have heard of RICO, the Racketeer Influenced Corrupt Organizations Act. A powerful weapon for bringing down fronts for the Mafia. And perhaps useful in going after cigarette makers, too. In a case set to open tomorrow, government lawyers claim the tobacco industry perpetrated "a massive 50 year scheme to defraud the public" by hiding the dangers of smoking. Wait a minute: wasn't there a massive settlement a few years ago? Yes. But this time, it's not the states: it's the feds making a case of it. Reporter: Helen Palmer Related Story: Tobacco lawsuit is finally heading for court Cigarettes Will Kill You - Ben Lee Support Marketplace: Purchase this music from Public Radio MusicSource More tragedy in Iraq Another American hostage working on the rebuilding of Iraq was beheaded today. As in the past there was a grisly video posted on the web plus threats to kill another 2 hostages - an American and a Briton. This is the work of a group led by Al-Qaeda ally Abu Musab al-Zarqawi. They're demanding U.S. authorities free women prisoners in Iraqi jails. The number of foreigners taken hostage in Iraq stands at 135. But correspondent Borzou Daragahi tells us that in his observation of the reconstruction effort, there's no such thing as 'getting used to' this level of violence. Q + A: David Brown, with Borzou Daragahi Related Story: Video Shows Last Moments of U.S. Hostage Ali Mullah - Transglobal Underground Support Marketplace: Purchase this music from Public Radio MusicSource Nuclear battles The head of the U.N. nuclear watchdog agency said today more than 40 countries may now have the knowledge to make nuclear weapons. The International Atomic Energy Agency has relied on the goodwill of nations to be open about their programs. This approach has its problems. Over the weekend, the agency ordered Iran to suspend all its uranium enrichment activities. Tehran's response - 'nothing doing: we're only making electricity'. The US doesn't buy that. Nor do UN inspectors. And that sets the stage for a confrontation; economic sanctions against Iran are possible. As Marketplace's Stephen Beard reports, it's not just Iran that's worried about those sanctions... Reporter: Stephen Beard Related Story: Iran rebukes UN on uranium freeze Éireann - Afro-Celt Sound System Support Marketplace: Purchase this music from Public Radio MusicSource A shopper's paradise Some 50 catwalk shows, the work of 150 designers to feast your eyes upon. It's Fashion Week in London. Next week: Milan. All in the pursuit of chic. It's been said that 'chic is nothing, but it's the right nothing.' In today's edition of the Loh Down, commentator and humorist Sandra Tsing Loh says she knows how to get that nothing - for nothing at all. Commentator: Sandra Tsing Loh Related Story: Nice clothing at even nicer prices The Lonely Little Thrift Store - Jonathan Richman Support Marketplace: Purchase this music from Public Radio MusicSource

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