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60 Minutes: “How Much Danger Is Still Out There? We Don’t Really Know.”

October 26, 2008 Leave a Comment

60 minutes did a piece on Credit Default Swaps and explained at a high level how many of the “side bets” that happened since 2000 had a role in the financial problems of today.


Watch CBS Videos Online

Note the last part of the video when former SEC commissioner Harvey Goldschmid is asked at 12:01 of the video:

“How much danger is still out there?”

Mr. Goldschmid’s reply:

“We don’t know… We don’t really know.”

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