CBS Evening News for Wednesday, Dec 21, 1988
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(Studio: Dan Rather) Report introduced.
(NYC: Richard Roth) Impact of junk bonds upon business and consumers discussed. Junk bonds noted risky investment. [Econ. Rudy OSWALD - says mergers financed by junk bonds incur major debt for company] Ex. of Revco Discount Drug company noted. [Econ. Glen YAGO - praises junk bonds.] Drexel Burnham Lambert noted major proponent of junk bond transactions; television ad. shown. [Analyst Jim GRANT - says junk bond deals make debt too respectable.]
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