NBC, as usual, turned to its sibling financial news network to cover the economy. CNBC's Maria Bartiromo led off NBC's newscast with corporate woes: Merrill Lynch may announce a further $15bn in losses from its speculation in the home mortgage market; American Express warned that more of its credit card holders have become delinquent payers; and "once proud" Wall Street financial houses are turning to foreign governments such as abu-Dhabi, Singapore and the People's Republic of China for infusions of capital. On CBS, Anthony Mason focused on Countrywide Financial: the firm that services one out of every six American home mortgage is "tottering on the brink of bankruptcy" and has been forced to sell its business. Bank of America paid $4bn. Betsy Stark covered Wall Street for ABC. An analyst told her that "spending is down on everything from hamburgers to diamond rings"--as the stock price of both McDonald's and Tiffany declined.
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