Paulson calls housing biggest economic risk; IBM, Intel, Yahoo beat estimates
CBS News
Transcript
[Music] it's the worst housing market since World War II that according to Caterpillar CEO who echoed many experts who caution the housing market is likely to weaken further next year and the Bush Administration took its first steps to try to end the crisis treasury secretary Henry Paulson called the housing market the biggest risk to our economy and laid out plans to help homeowners refinance before they face foreclosure including an overhaul of the mortgage industry on Wall Street the housing woes dragged stocks lower for a second day the Dow lost 72 points the NASDAQ gave back 16 today investors will react to profit report cards from a trio of tech Giants IBM Intel and Yahoo all posted earnings that met or beat Wall Street's expectations and what do Americans really want this holiday season computers that's according to an industry survey computers outranked peace and happiness and clothing this year as the most wished for gifts last year clothing topped the list followed by peace and happiness money and then computers that's your money watch be sure to log on to cbsnews.com for more in New York I'm Alexis christopherus