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(Studio: Peter Jennings) Housing start figs. given. Stk. Mkt. Report Report introduced.
(NYC: Sander Vanocur) Six month anniversary of "Black Monday" on Wall Street featured; details given, scenes shown. [MAN - says stock market kept going down.] [PEOPLE - respond.] Newspaper headlines from October 19, 1987 shown; historical film from Depression shown. [Harvard political economy Robert REICH - discusses dramatic drop in market] Main Street noted not affected by events on Wall Street; exs. given of economy areas not affected by crash. [Nakagama and Wallace economy Sam NAKAGAMA - says stock market does not affect consumer.] [REICH - discusses impact of fallen dollar on exports.] Impact of statement by Federal Reserve Board chairperson Alan Greenspan that federal government would continue to lend money during stock market crisis described. President Reagan's efforts to push through budget deficit reduction recalled. [Bear Stearns economy Lawrence KUDLOW - says crash was warning to speculators and free spenders.] Impact of event on Wall Street itself explained.
- Jennings, Peter;
- Vanocur, Sander
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