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Economy: Bear Stearns / Energy Prices / Bush #899813

CBS Evening News for Friday, Mar 14, 2008
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(Studio: Katie Couric) The Federal Reserve Board’s rescue plan for the Bear Stearns investment firm noted; Stock Market Report. The financial problems for Bear Stearns reviewed; details given about emergency loans from JPMorgan Chase and the New York federal reserve. [Morningstar, Inc. Ryan LENTELL†- says Bear Stearns could be quickly out of business.] [Recently, Bear Stearns CEO Alan SCHWARTZ††- comments on the company’s status.] [Harvard Business School Samuel HAYES†- notes other firms could have gone under.] Live interview held with UBS Financial Services Art Cashin† about the Fed’s action. [From the New York Stock Exchange, CASHIN – notes the Fed’s concern for the general marketplace and the impact on the stock market; comments on the status of financial institutions.]

(Studio: Katie Couric) Oil and gas prices cited.

(White House: Jim Axelrod) President Bush’s response to the nation's economy featured; statistics on jobs lost, home foreclosures, bank seizures, grocery and gas prices cited. [BUSH - says our economy is going through a tough time; warns against overcorrecting; predicts the economy will continue to grow; jokes about dodging questions.] [Moody’s economy.com Mark ZANDI†- notes normally you don’t want government involved.] [“Wall Street Journal Paul GIGOT†- says food prices are rising.]

Reporter(s):
Couric, Katie;
Axelrod, Jim
Duration:
00:05:10

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