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Economy: Bear Stearns / Martin Interview #888068

CBS Evening News for Monday, Mar 17, 2008
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(Studio: Russ Mitchell) Report introduced.

(New York: Stock Exchange: Anthony Mason) Emergency action by the Federal Reserve to help JPMorganChase buy the struggling Bear Stearns investment bank and avert a financial crisis examined; details given about the brokered deal for the company that went bust in the mortgage market, of the Fed's emergency loans to investment banks and a likely rate cut. [NYU Stern school of business William SILBER†- says we ran the risk of not opening the Stock Exchange.] [On the market floor, veteran trader Darlene MOGAVERO†- comments on the market response.] [President BUSH - promises monitoring and action.] The class action suit being brought by Bear Stearns investors noted.

(Studio: Russ Mitchell) Live interview held with "The Early Show" contributor Ray Martin about the economy. [MARTIN - comments on the difficult economic situation that is a "perfect and ugly" storm; suggests some investors lower their risk and build up savings.]

Reporter(s):
Mitchell, Russ;
Exchange, Stock
Duration:
00:04:30

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