The Dow at 10K - Now What?

With the Dow at this heady level, whats it mean for the economy? Well rewind back to 1999, when The Dow first crossed 10,000 to look at the seven companies who were on the Dow then, but not now. And we continue our look at the largest investors in the country, with a focus on CALPERS.

Episode Segments:

Wall Street Review A review of the week on Wall Street. On Wednesday and Thursday the Dow surmounted the 10,000 level but today it looks unlikely to hold there. The Dow first crossed 10,000 way back in 1999, we look at the seven companies who were on the Dow then, but no longer. It may appear that were right back where we started from, but now with a whole new group of players.
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What Does 10K Really Mean? With the Dow at this heady level, whats it mean for the economy? We listen two three of the most influential economists tell us where they think were headed. First from Columbia University two generally bullish economists, Joseph Stiglitz and Frederick Mishkin give their perspective, followed by everyones favorite bear, Noriel Roubini. It may surprise you to hear how similar all three are on their view of this recovery.
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Investors Corner We continue are look at the largest investors in the country. This week we focus on CALPERS, the giant managed pension fund for California employees. We see that they are falling for the same private equity forward commitment that got Harvard and Stanford in trouble. An ill advised agreement that will require that they double their investment in private equity over the next few years. And in a related story, we see how CALPERS, always anxious to reform corporate governance in others, finds itself in the middle of a management scandal themselves.
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