Search the Archive

California / Pyramiding #65635

ABC Evening News for Thursday, May 22, 1980
View other clips in this broadcast →

Material supplied by VTNA may be used for educational analysis or research only. Any editing, reproduction, publication, rebroadcast, public showing or public display may be prohibited by copyright laws.

(Studio) Rel. between incring. unemployment and questionable means of earning an income noted; shortages at major banks in California from current enthusiasm for "pyramid" scheme reported.
REPORTER: Max Robinson

(Los Angeles, California) Chain-letter scheme during the Great Depression recalled; photos shown. [MAN - explains his investment in pyramid.] "Pyramid," or business list concept, currently played in California explained. [PEOPLE - explain why they're involved.] Sec. precautions taken at pyramid mtgs. due to illegality of game in California noted. [Alameda Cnty. deputy district attorney Greg GIBESON - comments on scheme.] Support for game outlined. [Lola RADER - comments.] Inevitable losses involved in game outlined.
REPORTER: Royal Kennedy

Kennedy, Royal;
Robinson, Max

Note to sponsor members: The Vanderbilt Television News Archive video player requires a modern operating system and browser to work properly. If you are experiencing playback problems, check the minimum requirements and adjust your setup accordingly. After adjustments, if you continue to experience problems, please contact us.

Welcome! Above is the abstract of the item that you're interested in viewing from the Vanderbilt Television News Archive's collection. You have three options if you'd like to view this item:

  • You may request a loan of this video by registering on our website and placing an order.
  • You may visit the Television News Archive on the Vanderbilt campus to view on-site from the Archive's collection.
  • If you are associated with a college or university, you may ask your library if they would like to become a sponsor, which would give students and faculty at your institution the ability to view items from our collection.

If you believe that you are associated with a sponsoring college or university and have received this message in error, please let us know.