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CNN Live At Daybreak
Counterfeiters Find New $20 Bill Hard to Copy
Aired February 23, 2004 - 06:14 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little "Business Buzz" right now. The new $20 bill is getting the job done.
Carrie Lee has more on that story live from the Nasdaq market site.
Getting the job done, how -- Carrie?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Well in terms of counterfeiters, Carol. The new bills have been in circulation for about four months and the multi-colored bills are proving pretty difficult to counterfeit. According to "USA Today," in the first four months more than $100 million in the fake new $20s were accepted by businesses but later detected.
Now that's more than five times the amount passed and caught in the same period after the 1998 redesign. This, according to the Secret Service. More money being caught, even if it was originally accepted, suggests that the new $20s are harder to fake because they are easier to spot. And of course that's the government's goal in this whole redesign, the new bills have different colors, green, peach, blue, also other security features. So it looks like the job is getting done.
Separately, stocks to watch today, Martha Stewart Living Omnimedia, the defense will gear up today. Lawyers for Martha Stewart and her former stockbroker Peter Bacanovic are strongly leaning towards not putting their clients on trial. This according to "The Wall Street Journal." On the witness stand, rather.
Meanwhile, the lawyers for Stewart and her broker are also going to try to persuade the judge in the case to consider throwing out some of the charges against her, namely securities fraud. Remember she said when this whole news broke that she didn't do anything wrong. Allegations that she did that to prop up shares in her own company stock. So basically, Carol, the story continuing into this week and...
COSTELLO: And you know, Carrie, it would be so interesting if Martha Stewart did take the stand just to watch the stock.
LEE: It has been quite volatile since this whole trial began in mid-January. Pretty flat since then, but it's almost been a play by play. If you look at a stock chart over the past couple of weeks, up one day, down the next. So it certainly has been volatile. A lot of people would certainly, Carol, be hanging on not only her every word but really just trying to get a feel for you know who she is, where she stands in this whole thing. And it's going to be very interesting to watch over the next couple of days certainly.
COSTELLO: To say the least. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired February 23, 2004 - 06:14 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time for a little "Business Buzz" right now. The new $20 bill is getting the job done.
Carrie Lee has more on that story live from the Nasdaq market site.
Getting the job done, how -- Carrie?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Well in terms of counterfeiters, Carol. The new bills have been in circulation for about four months and the multi-colored bills are proving pretty difficult to counterfeit. According to "USA Today," in the first four months more than $100 million in the fake new $20s were accepted by businesses but later detected.
Now that's more than five times the amount passed and caught in the same period after the 1998 redesign. This, according to the Secret Service. More money being caught, even if it was originally accepted, suggests that the new $20s are harder to fake because they are easier to spot. And of course that's the government's goal in this whole redesign, the new bills have different colors, green, peach, blue, also other security features. So it looks like the job is getting done.
Separately, stocks to watch today, Martha Stewart Living Omnimedia, the defense will gear up today. Lawyers for Martha Stewart and her former stockbroker Peter Bacanovic are strongly leaning towards not putting their clients on trial. This according to "The Wall Street Journal." On the witness stand, rather.
Meanwhile, the lawyers for Stewart and her broker are also going to try to persuade the judge in the case to consider throwing out some of the charges against her, namely securities fraud. Remember she said when this whole news broke that she didn't do anything wrong. Allegations that she did that to prop up shares in her own company stock. So basically, Carol, the story continuing into this week and...
COSTELLO: And you know, Carrie, it would be so interesting if Martha Stewart did take the stand just to watch the stock.
LEE: It has been quite volatile since this whole trial began in mid-January. Pretty flat since then, but it's almost been a play by play. If you look at a stock chart over the past couple of weeks, up one day, down the next. So it certainly has been volatile. A lot of people would certainly, Carol, be hanging on not only her every word but really just trying to get a feel for you know who she is, where she stands in this whole thing. And it's going to be very interesting to watch over the next couple of days certainly.
COSTELLO: To say the least. Carrie Lee live from the Nasdaq market site.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
