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(Studio: Dan Harris) The government takeover of the IndyMac bank and efforts to stabilize Fannie Mae and Freddie Mac introduced.
(Washington: Junji de Nies) The changes at the IndyMac bank that collapsed featured; details given about the limits of FDIC insurance. [IndyMac Federal Bank CEO John BOVENZI- tells customers it is just a change in ownership.] [Moodys' Economy.com Mark ZANDI- predicts more bank failures due to bad loans.] [Treasury Secretary Henry PAULSON - cites the importance of Fannie Mae/Freddie Mac.]
(Studio: Dan Harris) Live interview held with ABC financial adviser Ariel Investments president Mellody Hobson about the banks. [HOBSON - says the banking system is sound because of the FDIC standing behind money in the banks; states the banks are monitored; comments on the actions of Senator Charles Schumer in raising questions about IndyMac.]
(Studio: Dan Harris) Schumer's statement noted.
- Harris, Dan;
- Nies, Junji de
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