Joseph Scott » 60minutes http://josephscott.org Thu, 29 Jul 2010 16:56:25 +0000 en hourly 1 http://wordpress.org/?v=3.1-alpha What Are Credit Default Swaps? http://josephscott.org/archives/2008/10/what-are-credit-default-swaps/ http://josephscott.org/archives/2008/10/what-are-credit-default-swaps/#comments Mon, 27 Oct 2008 15:51:45 +0000 Joseph Scott http://josephscott.org/?p=71
  • FamilySearch – Granite Mountain Records Vault & Indexing
  • Susan Boyle
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    • ]]>     Since the economic markets started imploding in a major way earlier this year we’ve hear a lot about about “credit default swaps” (CDS). I’ve seen a few attempts to explain what these particular financial tools are but still didn’t feel like I had a good grasp on what they were.

    Last night 60 Minutes had a segment on CDS (The Bet That Blew Up Wall Street) which I think does a pretty good job of spelling out what these beasts are. The audio is pretty poor, but it’s worth the 12 minutes and 26 seconds to watch:


    Watch CBS Videos Online

    After seeing this it seems pretty clear that the limitations the government removed eight years ago was not really a good idea. Not one Senator voted against it. Anyone know if they’ve learned their lesson and moved to make this illegal again?

    Related posts:

    1. FamilySearch – Granite Mountain Records Vault & Indexing
    2. Susan Boyle
    3. Recommended Reading: Steve Souders, High Performance Web Sites

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