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Iceland could become the first "national bankruptcy" of the global financial crisis. The nation's currency has lost nearly half of its value and banks are collapsing under the heavy debt. Tom Braithwaite, a reporter for the Financial Times, talks about Iceland's financial mess.

The deepening political scandal in Illinois continues to ignite strong debate among residents about the integrity of leadership in the state. Chicago Sun-Times columnist Mary Mitchell returns to the program, and joined by Chicago Tribune Reporter Mike Dorning to discuss their state's political crisis.

Sen. Carl Levin, chair of the Senate Armed Services Committee, says Gen. Stanley McChrystal's report on Afghanistan focuses more on strategy than it does on troop numbers. The Michigan Democrat has previously opposed sending more U.S. troops to Afghanistan, saying that the focus should, instead, be on training Afghan security forces.

The first Guantanamo war crimes trial has begun. Salim Hamdan — Osama bin Laden's former driver — is accused of helping al-Qaida. Hamdan has denied the charge. Carol Rosenberg, the Miami Herald's reporter in Guantanamo Bay, talks about the trial.

The Dow Jones industrial average have fallen by more than 700 points. Carey Leahey, senior economist with Decision Economics, blames the "dismal" retail sales report and the lingering effects of stagflation for the numbers. One ray of hope: the London Interbank Offered Rate has come down slightly.

This week, the nation's intelligence agencies produced their annual report on all the things that the United States should be worried about. It's called the "threat assessment," and it covers hot spots, despots, terrorists, troublemakers, and worrisome developments that could affect U.S. national security.

House Judiciary Committee Chairman Jim Jordan called for a third vote Friday on his nomination to be speaker of the House, telling reporters the House needs to "elect a speaker as soon as possible."

Pakistani President Pervez Musharraf is under intense pressure to modify the curriculums at religious schools known as madrassas because of Islamist extremist undertones. For Musharraf, it's an extremely sensitive political issue, and change is slow to come. NPR's Philip Reeves reports from Islamabad.

Both sides in the Iraq war use propaganda, but the insurgencies are becoming more and more sophisticated - broadcast quality videos of actual attacks, and the like. U.S. commanders sometimes use the videos to show their troops how the other side fights. NPR's Philip Reeves reports.

The mood has changed in Sadr City, the sprawling slum on the outskirts of Baghdad that was at the center of last spring's rebellion by militiamen loyal to a radical Shiite Muslim cleric. The situation is much calmer now, but anti-American sentiment still runs high. NPR's Philip Reeves reports.