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Economy / Solutions / Mortgages / Foreign Investments #882492

ABC Evening News for Wednesday, Jan 16, 2008
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(Studio: Charles Gibson) Labor Department and Federal Reserve statistics on consumer prices and industrial output cited.

(White House: Martha Raddatz) The government discussions about the economy and the fears of recession examined; details given about ideas from Democrats and Republicans to solve the economic crisis and of President Bush's conference call tomorrow. [Representatives John BOEHNER†, Nancy PELOSI - hope for a bipartisan approach.] [Former Secretary of Treasury Lawrence SUMMERS - cites the risks of too little, too late.] [CBO director Peter ORSZAG†- says we need to boost spending.]

(Studio: Charles Gibson) Report introduced.

(Studio: Betsy Stark) The potential gains for cash-rich foreign investors due to the fallout from the mortgage crisis examined; details given about how the banks are looking for cash from foreign governments in the Middle East and Asia and about how much OPEC is making from high oil prices. [In the debate, Senator Hillary CLINTON - expresses concern about foreign investments.] [Inst. for the Analysis of Global Security Gal LUFT†- says the US will be undermined in the long run.] [Mesirow Financial economist Diane SWONK†- says we have little choice.]

Reporter(s):
Gibson, Charles;
Raddatz, Martha;
Stark, Betsy
Duration:
00:05:00

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