American Morning

Tune in at 6am Eastern for all the news you need to start your day.
March 23rd, 2009
08:00 AM ET

Community bank boom

 CNN's Jason Carroll reports on how some community banks are booming where big banks are failing.
CNN's Jason Carroll reports on how some community banks are booming where big banks are failing.

Bigger is definitely not better right now in the banking business. We're seeing commercial banks buried under a mountain of debt and needing the government to save them from themselves.

But for some smaller, community-based banks... business is booming.

They may not have the name recognition but some start-up banks say they can provide service that's just as good as the larger chains and they say their customer's money is just as safe.

Watch


Filed under: Business • Economy
March 23rd, 2009
07:00 AM ET

Fast Forward

Officials in Fargo, North Dakota are desperately trying to save six thousand homes threatened by the swollen Red River. They need more than a million sandbags to stop the flooding. So far just over 300 thousand have been filled. The river is expected to crest this week at about 40-feet. Flood stage is above 17-feet. Forecasters say more rain is expected over the next several days.

The shuttle "Discovery" astronauts are preparing this morning for their third and final spacewalk scheduled to begin at 11:43 am Eastern time this morning. Two "Discovery" astronauts will try to fix an equipment storage platform that jammed and couldn't be deployed.

At 12:30 pm Eastern President Obama will make the case for investments in clean energy and new technology which are included in his budget. You can see the President's remarks live on CNN or online at CNN.Com/live.

FULL POST


Filed under: Fast Forward
March 23rd, 2009
06:00 AM ET

What’s on Tap – Monday March 23rd, 2009

A busy Monday morning.  There’s breaking news. Tragedy in big sky country.  Plus – new details on the bank bailout – and a bonus crackdown.

  • A story developing as we speak: A deadly and fiery plane crash in Montana. More than a dozen people were killed.  Many children are among the victims.  We’re live on scene as the sun comes up and investigators look for answers.
  • The bank bailout – take two.  Treasury Secretary Timothy Geithner is finally expected to explain how the administration plans to buy up a trillion dollars in toxic assets from banks.  Back on February 10, Geithner gave a bank bailout speech that was short on details. Congress killed it.  Wall Street hated it.  The markets lost hundreds and hundreds of points.
  • Renters kicked to the curb.  You don’t have to own to get hit by the foreclosure crisis.  Many landlords are drowning in debt and they’re pulling tenants under.
  • Getting a raise in a recession.  Personal Finance Editor Gerri Willis has been showing you where the jobs are.  Today she’ll tell you how to make your case for more money. 
  • Tough choices for parents whose kids are in private school.  Some are going to extreme measures, even taking out a second mortgage.  Sounds insane in this economy, but parents who want to keep their kids in private school say it's a gamble they're willing to take.
  • And – From working on Wall St… to driving on Wall St.  Many laid-off white-collar workers are now driving taxis to pay the bills, even as many commuters look for cheaper ways to work.

Filed under: What's On Tap
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