NBC Nightly News - 2002-07-21
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Read a transcript preview of “NBC Nightly News - 2002-07-21” from malgent, uploaded on 2025-12-22.
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Language: English (original, YouTube automatic captions)
[0:00] NBC News World Headquarters in New York.
[0:03] This is NBC Nightly News with John
[0:06] Seanthaler.
[0:07] >> Good evening everyone. As investors
[0:09] brace for what could be another rough
[0:10] day on Wall Street, more troubling
[0:12] corporate news tonight. WorldCom facing
[0:15] a growing accounting scandal and
[0:17] billions in debt tonight filed the
[0:19] largest corporate bankruptcy in US
[0:21] history. And after last week's massive
[0:23] losses and a string of corporate
[0:25] scandals, the head of the New York Stock
[0:27] Exchange called today for a war on
[0:29] terrorism in the boardroom. NBC's Anne
[0:32] Thompson has the latest. Tonight,
[0:34] WorldCom, as expected, says it will file
[0:37] for bankruptcy. The nation's number two
[0:39] long-distance carrier, mired in an
[0:41] accounting scandal and carrying a
[0:43] crushing $ 33 billion in debt, seeking
[0:46] protection in federal court.
[0:48] One more piece of bad news for the
[0:50] markets after a bear of a week, capped
[0:53] by the Dow's 390 point plunge on Friday.
[0:56] Wall Street braces for what could be a
[0:58] turbulent Monday. New York Stock
[1:01] Exchange Chairman Richard Graasso today
[1:03] on Meet the Press.
[1:04] >> Mondays following Friday declines have
[1:07] always been difficult and I suspect
[1:10] tomorrow will be no different.
[1:12] >> Since July 8th, the Dow down nearly,400
[1:15] points, falling nine days out of 10. its
[1:18] worst two-week period since the crash of
[1:20] 1987. The Dow losing more than 14% of
[1:23] its value, off 20% for the year. The
[1:27] trust of investors shattered by
[1:28] allegations of cooked books and
[1:30] unethical behavior.
[1:32] >> When you find out that the analysts
[1:33] really don't know what they're talking
[1:35] a