This program is 29 minutes long
(Pasadena, California: Bill Whitaker) The failure of the IndyMac bank, which made risky mortgage loans, featured; scenes shown from Pasadena, California, of people in line to get their money; details given about the extent of uninsured money. [Bank customers Tom SACHS, Nasim AHMED- react.] [IndyMac Federal Bank CEO/FDIC COO John BOVENZI- says the money is safe.] [Financial strategist Richard BOVE- says most banks are not in the danger zone.]
(Studio: Katie Couric) Report introduced.
(Studio: Anthony Mason) The move by the Federal Reserve to crack down on deceptive lending practices that unleashed the mortgage mess examined; details given about new sub-prime rules and actions to protect Fannie Mae and Freddie Mac. [Representative Barney FRANK - blames former Federal Reserve Board chairman Alan Greenspan for the problems today.] [Yesterday, Secretary of Treasury Henry PAULSON- comments on housing corrections.] [Mortgage industry consultant Howard GLASER, economy.com's Mark ZANDI- comment on the situation.]
(Studio: Katie Couric) Live interview held with bankrate.com Greg McBride about the banks and mortgages. [From West Palm Beach, McBRIDE - explains how most homeowners are safe; cites the impact on the general public; notes how the average person's money is safe.]
(Washington: Lara Logan) The Taliban attack against a US combat outpost in the mountains of Afghanistan reviewed; map shown; details given about the battle. [Afghanistan Ambassador to US Said Tayeb JAWAD- says the real threat is Al Qaeda.] Taliban video of another attack against US and Afghan soldiers shown. How the insurgents got so close to the US troops discussed.
(Chicago: Dean Reynolds) The proposal from Senator Barack Obama in the "New York Times" for more US troops for the war in Afghanistan, the response from Senator John McCain and the furor over the "New Yorker" caricature magazine cover of Obama and his wife in the Oval Office examined; op-ed piece quoted. [McCAIN - comments on the strategy that has succeeded in Iraq.] [On the street, two PEOPLE; McCAIN - react to the "New Yorker" cover.]
(Rancho Bernardo: Sandra Hughes) The insurance problems for those whose homes were destroyed by last year's California wildfires examined; scenes shown of homes being rebuilt; various money statistics cited. [Allstate policyholders Patricia BENNETT, Mark EMERY - talk about their insurance.] [United Policyholders director Amy BACH- explains the approach of insurance companies and why they got fined.] The lawsuits claiming Allstate uses an unfair business model noted. [Allstate corporate relations Bob DANIELS- defends the policies.]
(The Bronx: Jeff Greenfield) The final season for baseball's Yankee Stadium, the site of this year's All-Star Game, featured; scenes shown of Babe Ruth in 1923, from a tour of the stadium, Lou Gehrig's good-bye, boxer Joe Louis's bout and from some key ball games. [Yankee Stadium director of tours Tony MORANTE- shows the ballpark; talks about his days here.]