This program is 29 minutes long
(New York: Dan Harris) Unprecedented steps by the Federal Reserve to prevent a decimation of the financial industry and the economy with the forced sale of the Bear Stearns investment bank examined; scenes shown from Wall Street; details given about the stunning sale of Bear Stearns to JPMorganChase and the Fed's move to set up a loan program to help investment banks get money. [WOMAN - predicts a jittery market.] [UBS Financial Services Art CASHIN, Moody's economy.com economist Mark ZANDI, Meserow Financial economist Diane SWONK, President BUSH - offer views on the financial markets.] Speculation about what company may be the next Bear Stearns noted.
(Studio: Charles Gibson) Report introduced.
(Chicago: Barbara Pinto) Investors' concerns about their money examined; details given about the FDIC, the risk for those owning stocks in banks like Bear Stearns, including mutual funds being dragged down by their investments in the faltering financial sector. [Investor Willie LONG - worries.] [Ziv Investment Co. president Peter ZIV- says the investment banks were considered the bluest of blue chips.] [Cherry Hills Investment Advisors Susie JOHNSTON, investor Joyce SEDAM- comment on the investment situation.]
(Sichuan province, China: Stephanie Sy) The crackdown by the Chinese military on demonstrations in Tibet featured; scenes shown of army vehicles en route to Tibetan cities, deadly clashes, a monk in India receiving bad news and security in the streets of Chengdu. [Tibetan Center human rights Tenzin NORGAY- says they are shooting at crowds.]
(Fallujah: Terry McCarthy) Life today in Iraq examined; details given from the poll findings on the view of the Iraqi people on their own lives, the US troop presence, the gains in security, emigration; scenes shown from Durrah, Fallujah and the north.
(Washington: Jake Tapper) The dogging of Senator Barack Obama by his pastor's provocative comments featured; details given about the weekend of damage control over the Rev. Jeremiah Wright, whose past statements are quoted. [WRIGHT - criticizes white America.] [June 2007, OBAMA - gives a "shout out" to his pastor.] [Today, in campaign video, OBAMA - speaks out.] [OBAMA - previews his speech tomorrow on race.]
(Washington: Terry Moran) Why the government intervened in the buyout of Bear Stearns examined; media coverage shown; details given about the issue of the "moral hazard" with a government bailout and about the extent of the spread of risky loans. [August 31, 2007, President BUSH - says it is not the government's job to bail out speculators.] [Secretary of Treasury Henry PAULSON- defends the decision to bail out.] [Graham Fisher and Co. managing director Joshua ROSNER- says taxpayers should question this; predicts a longer malaise.] [George Washington University Susan PHILLIPS- says the Fed realized how connected Bear Stearns is.]
(Chile: Jeffrey Kofman) The scientific search for the blue whale, the largest animal on Earth that is back from the verge of extinction, featured; scenes shown from the seas off Chile, where the gulf may need to be a protected marine area. [Blue Whale Center researcher biologist Rodrigo HUCKE-GAETE- talks about the whale and the hopes for its recovery.] [World Wildlife Fund Cathy PLUME- comments on protecting this place.]