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Economy: Stock Market, Banks Plan / Saunders Interview #926237

CBS Evening News for Monday, Mar 23, 2009
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(Studio: Katie Couric) The reaction of the stock market to the Treasury Department's announcement of its bank rescue plan noted.

(White House: Chip Reid) President Obama's program to deal with toxic assets in the banking system examined; details given about a public-private investment program to buy the assets along with low interest loans to investors so that banks will start lending and about the recent criticism of Treasury Secretary Tim Geithner. [OBAMA - says there is still fragility in the financial system.] [On "60 Minutes," OBAMA - backs Geithner.] The concerns of Wall Street firms and banks about this financial plan discussed.

(Studio: Katie Couric) The announcement by New York attorney general Andrew Cuomo about recouping bonus money from AIG executives reported.

(Studio: Katie Couric) Earlier interview held with Charles Schwab's Liz Ann Saunders about the market surge in response to the bank rescue plan. [SAUNDERS - says the market reacted to the concrete nature of the bank plan; speculates about this stock market rally, about whether the worst is over in the economy and whether the toxic asset relief plan will work.]

(Studio: Katie Couric) The economic rescue plans since last fall reviewed; statistics on the taxpayer bill cited. What It Means‡ segment introduced.

(Washington: Wyatt Andrews) What the toxic assets mortgage deal means reviewed; mortgage statistics cited; details given about what it means for the bank, the normal consumer and taxpayers. [BlackRock Curtis ARLEDGE‡, Securities Ind. and Financial Markets Assn. Tim RYAN†- assess the bank plan.] [Home buyers Suzers and George SACHS%- wonder about the value of a home.]

Reporter(s):
Couric, Katie;
Reid, Chip;
Andrews, Wyatt
Duration:
00:08:10

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