CBS Evening News for Monday, Jul 22, 2002
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: John Roberts) Stock Market Report.
(Studio: Anthony Mason) The bankruptcy of WorldCom featured; details given of the impact on the stock market; outstanding bank loans to WorldCom cited. [WorldCom CEO John SIDGMORE†- says we fought hard to avoid this.] [State Street Research Anne TRUESDALE†- says WorldCom needs all the cash flow they can get.] [UBS PaineWebber Arthur CASHIN†- comments on the bad loans.] [Credit Suisse First Boston Patrick BOYLE†- comments on investor confidence.]
(Studio: John Roberts) President Bush’s reaction to the economy featured. [In Argonne, Illinois, BUSH – says Congress will get a bill to put some meaningful reforms in place.] Bush’s defense of Treasury Secretary Paul O’Neill, who has been blamed for the market downturn, noted.
(New York: Jim Axelrod) The crisis of confidence in business featured. [Business owner Ovidiu COLEA† - says he doesn’t think the economy is improving.] [Investor Lynn CHAMBERS†- explains why she is moving her money.] [Car salesman Joe LOPANE†- says buyer confidence is completely down.]