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Washington / Utility Bonds #287275

CBS Evening News for Tuesday, Oct 04, 1983
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(Studio) WA's promotion of utility bonds recalled.
REPORTER: Dan Rather

(NYC) Major default of Washington Public Power Supply System on nuclear plant projects, recalled; NYC, Chicago and Seattle mtgs. today of bond investors featured. [Virginia MULLER - notes she and husband lost everything.] Amount invested by Muller mentioned. [Courtesy Chemical Bank, attorney Ralph McAFEE, banker William BERLS - call for punishment of welchers; ask bondholders for patience.] Indications that stricter federal regulation is needed explained. [Bond expert Russell FRASER - feels feds. should clean up municipal bond business, if business fails to take care of itself.] Outlook for bondholders noted.

Brady, Ray;
Rather, Dan

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