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Detailed text transcripts for TV channel - CNN - 20181231:06:39:00

Western world. >> paulson, bernanke, tim geithner, they saw the risk that this could be not just a fire that would burn wall street down, but that could burn down our economy and burn down the world economy. >> it is uncle sam to the rescue, but oh, what a price tag. >> the federal government is saving insurance giant aig from possible collapse with an $85 billion loan, all of it your money. >> the move was designed to calm and bring stability to the financial markets. did it work? maybe down th...
Ben Bernanke Hank Paulson The World Economy Western World Wall Street Down Tim Geithner

Detailed text transcripts for TV channel - CNN - 20181231:06:45:00

Told congress last night that a bailout is the only way to prevent a collapse. >> americas economy is facing unprecedented challenges, and were responding with unprecedented action. >> it is no stretch to say that after this week, the era of big government is back. >> it is an urgent request from the bush administration to congress for $700 billion to quickly stabilize the financial system. >> thursday afternoon we started to hear about this thing called tarp. and tarp had many different variati...
Last Night President Bush 700 Billion 00 Billion Troubled Asset Relief Program Isnt Pretty

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