CBS Evening News for Tuesday, Nov 18, 2008
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(Washington: Wyatt Andrews) The collapse of the consumer credit market due to lenders bundling loans and credit card purchases and selling them as securities examined; details given of Treasury Secretary Henry Paulson’s call for using bailout funds to prop up credit. [Consumer Pamela SANDE- comments.] [American Enterprise Institute Vince REINHART- says investors are suspicious of securitized products.] [November 13, PAULSON – says it is creating a burden and reducing the number of jobs.] [American Bankers Assn. Diane CASEY-LANDRY- says the credit standards have tightened.]
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