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Economy: Mortgage Crisis / IndyMac Bank #902717

ABC Evening News for Sunday, Jul 13, 2008
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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.

Reporter(s):
Harris, Dan;
Nies, Junji de
Duration:
00:04:30

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