Ruby Keeler was an unknown actress when she starred in the 1933 production of Busby Berkeley's 42nd Street.
But the movie was so popular she was able to land two more splashy musicals that same year — and seven more by the end of the decade. There was nothing extraordinary about her talents as a vocalist or as an actress, but audiences of the Depression era really bought into Keeler's "innocent" onstage persona. In fact, they craved it.
The mortgage giants Fannie Mae and Freddie Mac got hit so hard by the housing crisis that they required a massive federal rescue. Now lawmakers are looking to scale back the two entities' role — and the government's — in the mortgage market.
The Senate Banking Committee is expected to vote Thursday on President Obama's nominee to head the agency that oversees Fannie and Freddie.
The Beige Book is weird. It's an economic report released by the Federal Reserve every few months, but it doesn't have many numbers in it. Mostly, it's a bunch of stories gathered by talking to businesses around the country. A Fed economist once described it as the "Ask Your Uncle" approach to figuring out what's going on in the economy.
You're listening to ALL THINGS CONSIDERED from NPR News.
One month ago, Federal Reserve Chairman Ben Bernanke introduced the idea of winding down the Fed's massive stimulus programs. On that announcement, the markets tanked. Today, Bernanke said pretty much the same thing. But this time, the markets yawned.
As NPR's John Ydstie explains, the Fed chairman appears to have finally found the formula to ease Wall Street's concerns.