CNBC.com News Now: One-On-One With Willumstad

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DOW 8577.91 -733.08 -7.87% NASDAQ 1628.33 -150.68 -8.47% S&P 907.84 -90.17 -9.03%   Wednesday, Oct. 15, 2008   CNBC TASK FORCE     Rebecca Jarvis, Reporter, CNBC Business News" Stocks plunge...again. Ground Hog Day is getting pretty old and hard to stomach. But beyond the volatility, beyond the question of where the Dow will end 2008 (or tomorrow for that matter!), beyond the question of whether oil will hit $145 or $20 or $60 again, is the bigger question of where this country is heading. How will the U.S. reinvent itself going forward? The answer to that question helps us answer all the others. So listen very carefully when the big names talk. Tonight's Presidential debate is a start, but listen for more. There should be hints and new ideas on the table if we as reporters do our jobs.     WHAT YOU SHOULD KNOW     Bernanke Says Credit Crisis Is Major Threat to Economy The turmoil in credit markets poses a "significant threat'' to an already slowing U.S. economy, Federal Reserve Chairman Ben Bernanke said Wednesday, suggesting an openness to further interest-rate cuts....read more     What the Pros Say: Go East! Asian and European markets tracked U.S. markets lower on Wednesday as recession fears returned to center stage after trillions of dollars pledged for global bank bailouts helped dispel worries of an imminent financial meltdown. But while banks in Europe and the U.S. are on rocky ground, Asian...read more     A Credit Default Swap Primer Regulators have stepped up calls since the collapse of Lehman Brothers last month for more supervision of the $55 trillion credit derivatives market to improve its safety and transparency. Below are facts about the market to date....read more     As Recession Looms, Fed Faces Pressure to Cut More Now that the US consumer has finally hit the wall, there's growing speculation the Federal Reserve will push its interest rate pedal to the floor.... read more   TONIGHT: Henry Paulson will be live in our studio, hear the latest on the bailout from the man in charge. "Wall Street Crisis: Is Your Money Safe" Tonight 7p ET hosted by Larry Kudlow     TODAY'S TOP 5 VIDEOS     1. NYSE Market Wrap Bob Pisani reports on the trading day from the NYSE.     2. Wells Fargo CFO On Earnings Wells Fargo CFO Howard Atkins discusses his company's third quarter earnings and its merger with Wachovia.     3.One-On-One With Willumstad Former AIG CEO Robert Willumstad breaks his silence.     4. Stop Trading, Listen to Cramer! Mad Money's Jim Cramer shares his stock picks and pans with CNBC's Erin Burnett.     5. Stay On the Beach & Watch TV Don't even try to swim in the danger-filled waters of the markets. Investors should stay on the beach and tune into CNBC till the volatility rides out, advises Simon Rose, CEO at Dahlman Rose & Co. He speaks to CNBC's Martin Soong & Sri Jegarajah.     Click here to view all of today's top videos on CNBC.com     CNBC.com BLOG OF THE DAY     When Markets Collide" Named Biz Book Of The Year! Six book--from organized crime to the history of trade to a biography of Warren Buffett--were nominated, but the prize went to the author who has been called a "Global Guru."...read more See All CNBC.com Blogs   Watch CNBC live on your desktop. Click here to find out how.   NEWS MARKETS EARNINGS INVESTING VIDEO CNBC TV CNBC PLUS   (c) 2008 CNBC, Inc. All Rights Reserved

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