World News (ABC) - 2008-09-17
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Read a transcript preview of “World News (ABC) - 2008-09-17” from malgent, uploaded on 2025-09-13.
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Language: English (YouTube automatic captions)
[0:00] at 87777
[0:02] News.
[0:06] Welcome to World News. Tonight, the
[0:08] gloom deepens on Wall Street and on Main
[0:11] Street. Stocks plummet despite the
[0:14] government takeover of AIG. Should other
[0:17] troubled companies be saved with
[0:19] taxpayers money? Tainted milk. Thousands
[0:22] of babies in China are sickened after
[0:25] drinking formula laced with an
[0:27] industrial chemical. and text message
[0:30] trouble. It may have caused a train
[0:32] wreck. It has caused car wrecks. Our
[0:35] reporter shows just how distracting and
[0:37] dangerous texting can be.
[0:46] >> From ABC News headquarters, this is
[0:49] World News with Charles Gibson.
[0:51] >> Good evening. Last night, the government
[0:54] committed $85 billion to bail out the
[0:57] insurance giant AIG and keep the company
[0:59] going. As a result of the deal, you, the
[1:02] taxpayer, now own 80% of the company.
[1:05] The move was designed to calm and bring
[1:07] stability to the financial markets. Did
[1:10] it work? Maybe down the road, but not
[1:13] today. Today, the market started down
[1:15] sharply, recovered a bit, and then at
[1:18] the end of the day, fell off sharply
[1:20] again, ending the day down another 450
[1:23] points. That's a loss just today of 4%
[1:26] of the market's value. So, what's going
[1:29] on? Betsy Stark is here again tonight.
[1:31] Betsy,
[1:32] >> Charlie, today's plunge in the Dow was
[1:34] not the reaction government officials
[1:36] were hoping for when they made the
[1:38] extraordinary decision last night to
[1:40] save AIG. Fear has taken hold of the
[1:43] financial markets here and around the
[1:46] world.
[1:48] On Wall Street today, the 85 billion
[1:51] dollars the Federal Reserve put up to
[1:53] save AIG from near certain bankrupt