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.
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.”
