After watching ” BBC video ” of Ch 12, and 13 ,analyze the contents of those videos by relating into economic theories.
After watching ” BBC video ” of Ch 12, and 13 ,analyze the contents of those videos by relating into economic theories.
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After watching ” BBC video ” of Ch 12, and 13 ,analyze the contents of those videos by relating into economic theories.I put transcript of the video.12>> What we’re gonna do is we’re gonna let about 10 people,10 or 15 people in at a time.>> Throughout the day on Monday,hundreds of anxious depositors linedup outside the Pasadena headquartersof Indy Mac Bank clamoring to get their money out.>> Well, I have a CD here and I wanna withdraw itand put it in another bank.>> The Federal Deposit Insurance Corporation took over Indy Macafter depositors worriedabout its [inaudible] made a run on the bank Friday.As the new federal CEO was giving yet another interview,a woman in the long line fainted.On loan from the FDIC, the new bank chief says his biggest job,calming depositors’ jitters.>> So I just wanna reassure people if 98 percentof the people do business with a bank have lessthan a hundred thousand dollars in their accounts,they don’t have to worry about anything.Their money is completely protected.>> But those with more than 100,000 dollarsin the bank are looking at trouble.Right now, the FDIC promises only 50 cents on the dollarfor every individual account over 100,000.>> We got a check which is only about 50 percentof our total investment, which really hurtsbut that’s all we were able to do today.>> 10,000 Indy Mac customers had morethan 100,000 dollars in their accounts.Addressing the fears,some financial expert’s advice taking a collective deep breath.>> Most of the big banks in this country were notin the danger zone in any way, shape or form.>> Small comfort for those who thought their money was safeand now aren’t sure who they can trust.13>> The President says he wants Ben Bernanketo head the Federal Reserve for another 4 years because he morethan anyone else pulled the economy backfrom the brink of depression.>> Ben Bernanke has led the fed through oneof the worse financial crisis that this nationand the world has ever faced.>> Bernanke’s term though doesn’t end until Januaryso why then did the President suddenly interrupt his vacationto make an early morning announcement?It’s all about timing.The President spoke at about 9 a.m.,[bell ringing] half an hour before the markets open.
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