CBS Evening News for Monday, Jul 14, 2008
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(Pasadena, California: Bill Whitaker) The failure of the IndyMac bank, which made risky mortgage loans, featured; scenes shown from Pasadena, California, of people in line to get their money; details given about the extent of uninsured money. [Bank customers Tom SACHS, Nasim AHMED- react.] [IndyMac Federal Bank CEO/FDIC COO John BOVENZI- says the money is safe.] [Financial strategist Richard BOVE- says most banks are not in the danger zone.]
(Studio: Katie Couric) Report introduced.
(Studio: Anthony Mason) The move by the Federal Reserve to crack down on deceptive lending practices that unleashed the mortgage mess examined; details given about new sub-prime rules and actions to protect Fannie Mae and Freddie Mac. [Representative Barney FRANK - blames former Federal Reserve Board chairman Alan Greenspan for the problems today.] [Yesterday, Secretary of Treasury Henry PAULSON- comments on housing corrections.] [Mortgage industry consultant Howard GLASER, economy.com's Mark ZANDI- comment on the situation.]
(Studio: Katie Couric) Live interview held with bankrate.com Greg McBride about the banks and mortgages. [From West Palm Beach, McBRIDE - explains how most homeowners are safe; cites the impact on the general public; notes how the average person's money is safe.]