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Economy: Credit Crisis / Investment #888052

ABC Evening News for Monday, Mar 17, 2008
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(Studio: Charles Gibson) Report introduced.

(New York: Dan Harris) Unprecedented steps by the Federal Reserve to prevent a decimation of the financial industry and the economy with the forced sale of the Bear Stearns investment bank examined; scenes shown from Wall Street; details given about the stunning sale of Bear Stearns to JPMorganChase and the Fed's move to set up a loan program to help investment banks get money. [WOMAN - predicts a jittery market.] [UBS Financial Services Art CASHIN†, Moody's economy.com economist Mark ZANDI†, Meserow Financial economist Diane SWONK†, President BUSH - offer views on the financial markets.] Speculation about what company may be the next Bear Stearns noted.

(Studio: Charles Gibson) Report introduced.

(Chicago: Barbara Pinto) Investors' concerns about their money examined; details given about the FDIC, the risk for those owning stocks in banks like Bear Stearns, including mutual funds being dragged down by their investments in the faltering financial sector. [Investor Willie LONG - worries.] [Ziv Investment Co. president Peter ZIV†- says the investment banks were considered the bluest of blue chips.] [Cherry Hills Investment Advisors Susie JOHNSTON†, investor Joyce SEDAM†- comment on the investment situation.]

Reporter(s):
Gibson, Charles;
Harris, Dan;
Pinto, Barbara
Duration:
00:05:40

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