CBS Evening News - 2008-10-07
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Read a transcript preview of “CBS Evening News - 2008-10-07” from malgent, uploaded on 2025-09-14.
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Language: English (original, YouTube automatic captions)
[0:02] Tonight, the bleeding continues on Wall
[0:04] Street, so the Fed jumps in with a new
[0:06] tourniquet, a plan to ease the credit
[0:09] crunch. The crisis has taken a heavy
[0:11] toll not just on our wallets, but our
[0:14] health. I'm Katie Couric. Also tonight,
[0:16] the clash in Nashville. Given the tone
[0:19] on the trail, many are wondering how
[0:21] nasty tonight's debate might get.
[0:25] Which man would do more to help small
[0:27] business? We'll tell you where they
[0:29] stand in our special series.
[0:32] And want to help older folks live
[0:33] longer? Then researchers say, don't
[0:36] treat them like children.
[0:43] This is the CBS Evening News with Katie
[0:46] Couric.
[0:49] Good evening, everyone. And the question
[0:50] everyone is asking is, how low will it
[0:53] go? The stock market slide continued
[0:55] today. The Dow lost more than 500
[0:57] points, and that brings the total loss
[0:59] since the bailout was signed into law to
[1:02] more than 1,000. The president says it
[1:04] will take time for the bailout to work,
[1:07] but investors are not buying that, and
[1:10] they're selling their stock. As Anthony
[1:11] Mason reports, the Federal Reserve was
[1:14] forced to step in.
[1:17] The forecast for the nation's economy
[1:19] keeps getting gloomier. The weatherman
[1:21] bearing the bad news, Fed Chairman Ben
[1:23] Bernanke. The outlook for economic
[1:25] growth has worsened
[1:27] and that the downside risk to growth
[1:28] have increased. So the Fed will try to
[1:30] use a blowtorch to thaw the frozen
[1:33] credit markets by making short-term
[1:35] loans directly to big businesses. How
[1:38] unusual is this move by the Fed?
[1:40] Extremely unusual. It's never been done
[1:42] before. Wall Street historian Charl