Paulson nears subprime rate-freeze deal; GM sales plunge 11%
CBS News
Transcript
some troubled homeowners could soon be getting a helping hand from the White House treasury secretary henry paulson says he is close to a deal with major banks to temporarily freeze interest rates on some adjustable subprime mortgages the plan is designed to help thousands of homeowners avoid defaulting on their loans but critics say the plan will only help a narrow slice of subprime borrowers in trouble and will not help those already in foreclosure on Wall Street Stocks lost ground on growing worries about the fallout from the mortgage mess the dow jones industrial average lost 57 points while the nasdaq composite slid nearly 24 november was a mixed bag for automakers sales and general motors plunged eleven percent thanks to falling demand for trucks as well as cuts in sales to rental car fleets but sales at Ford moved up four tenths of a percent ending a year long string of sales losses Japanese automakers spared better Nissan posted a six percent gain Honda a nearly five percent jump and Toyota sales or about flat a merger in the video game world vivendi and Activision are teaming up to create the world's largest video game publisher activision's titles include guitar hero and the Tony Hawk series vivendi owns the popular world of warcraft franchise the combined company will be worth about 19 billion dollars that's your money watch be sure to log on to cbsnews.com for more in New York I'm Alexis Christopher asst