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Economy: Bear Stearns Bailout / Bush Response #887777

ABC Evening News for Friday, Mar 14, 2008
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(Studio: George Stephanopoulos) The impact on Wall Street of the announcement of a taxpayer bailout for the Bear Stearns investment firm cited.

(New York: John Berman) The maneuver by the Federal Reserve in response to the calamity over the mortgage mess examined; details given about a 28-day loan to the company due to the real estate bubble. [Wharton School professor Susan WACHTER†; in conference call, Bear Stearns CEO Alan SCHWARTZ†, Portales Partners president Charles PEABODY†, Jefferies and Co. analyst Art HOGAN†- comment on the financial situation.] [President BUSH - jokes about an "interesting moment."]

(Studio: George Stephanopoulos) Report introduced.

(White House: Martha Raddatz) The president's response to the nation's economy examined; details given about the economic problems and proposals for fixing it. [BUSH - says it is a tough time for the economy; offers caution.] [Maryland professor Peter MORICI†- says Bush's programs are not sweeping enough.] [International Strategy and Investment Group Tom GALLAGHER†- comments on the spreading credit collapse.]

Stephanopoulos, George;
Berman, John;
Raddatz, Martha

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