ABC Evening News for Monday, Mar 17, 2008
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(Washington: Terry Moran) Why the government intervened in the buyout of Bear Stearns examined; media coverage shown; details given about the issue of the "moral hazard" with a government bailout and about the extent of the spread of risky loans. [August 31, 2007, President BUSH - says it is not the government's job to bail out speculators.] [Secretary of Treasury Henry PAULSON- defends the decision to bail out.] [Graham Fisher and Co. managing director Joshua ROSNER- says taxpayers should question this; predicts a longer malaise.] [George Washington University Susan PHILLIPS- says the Fed realized how connected Bear Stearns is.]
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