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Market Watch (Stock Market / Adelphia / Corporate Reform Bill / Bush) #706648

CBS Evening News for Wednesday, Jul 24, 2002
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(Studio: Dan Rather) Stock Market Report. SEC investigation into AOL Time Warner noted.

(New York: Anthony Mason) The arrest of former Adelphia CEO John Rigas†† and two sons for corporate fraud featured; details given of investor losses and the effect of Rigas’s arrest on the stock market. [Deputy attorney general Larry THOMPSON†- says members of the Rigas family systematically looted the corporation.] [Duke University James COX†- says he is reassured.] [Prudential Financial Larry WACHTEL†- comments on the effect on the stock market.] [New York Stock Exchange chairman Dick GRASSO†- says the system isn’t broken.]

(Studio: Dan Rather) Details of the corporate reform package agreed upon reported.

(White House: John Roberts) The political implications of the losses in the stock market on President Bush and the Republican party featured; details given of Bush’s stance toward Secretary of Treasury Paul O'Neill; CBS News poll on Bush and the economy cited. [BUSH – says this government will prosecute corporate executives who break the law.] [Representative Mark FOLEY†- says people vote with their pocketbooks.] [Senator Thomas DASCHLE†- comments on SEC chairman Harvey Pitt††’s demand for a raise and promotion.]

Reporter(s):
Mason, Anthony;
Rather, Dan;
Roberts, John
Duration:
00:06:00

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