The Fed made a bold move to jump-start the economy today, cutting a key interest rate by ¾ of a point to its lowest level ever: between zero and .25 percent. The move is aimed at freeing up money for house-hunters or those looking to refinance their mortgages to a more affordable level. The Fed pledged to use "all available tools" to fight the recession. Anthony Mason will begin our coverage.
Meanwhile, banks are using their own tactics to stay healthy – but it could wreak havoc on your wallet if you're a credit-card user. Mark Strassmann explains a practice called "balance chasing," which could mean higher interest rates or lower credit limits for card users.
In health news: The colonoscopy has for decades been the gold standard for screening for colorectal cancer. But now, dramatic results of a new study suggest colonoscopies sometimes miss cancer. Instead of detecting 90 percent of cancer cases, the real number could be closer to 60 or 70 percent. Dr. Jon LaPook breaks down what these results might mean.
Next: Crossing the border into a country in crisis. In the throes of a savage drug war waged by brutal cartels, Mexico is now one of the most dangerous places on earth, with more killings a year than in the entire Iraq war. As Bill Whitaker reports, the United States’ appetite for drugs is fueling street wars, kidnappings and even beheadings.
After that eye-opening story, I'll have a roundup of the biggest foreign news of the day in my International Notebook.
Finally: In this tough economy, Hollywood has taken some hits – but has also continued making massive box office hits. Will TinselTown continue to shine through the holidays, despite the recession? Sandra Hughes shows us the picture.