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Economy: Bailout, Foreclosures, Jobs #924084

CBS Evening News for Thursday, Nov 13, 2008
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(Studio: Harry Smith) Statistics on home foreclosures and unemployment cited; Stock Market Report.

(Washington: Sharyl Attkisson) Senate hearings on how banks are using taxpayers’ bailout money reviewed; scenes shown of executives from 4 top banks being questioned. [Bank of America Corp. Anne FINUCANE†- states we have to lend judiciously.] [Senator Chris DODD†- says none of us have ever lived through anything like we’re going through.] [Wells Fargo Jon CAMPBELL†- says Wells Fargo doesn’t need the government investment to pay for bonuses or compensation.] What happens to the second half of the bailout money discussed.

(Studio: Harry Smith) Treasury Department figures on the federal budget deficit and RealtyTrac statistics on foreclosures in October cited.

(Los Angeles: Ben Tracy) Efforts that help some homeowners avoid foreclosure while others are evicted featured; statistics on foreclosure activity in Nevada, Arizona and Florida cited. [Cedar Hill, Texas, resident John WILLIAMS†- comments on being able to stay in his home.] [Mill Valley, California, resident Troy COURTNEY†- reacts to losing his home.] [Inside Mortgage Finance Publications Guy CECALA†- says it’s like having a boat full of water that’s leaking all the time.]

Reporter(s):
Smith, Harry;
Attkisson, Sharyl;
Tracy, Ben
Duration:
00:05:30

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