Normally I blog about health, wellness and anti-aging news, but today I thought I would help people understand what's going on in this financial crisis and just how bad it really is.
60 Minutes did a very good job explaining the problem and who's to blame, in layman's terms, and if you missed it, I think you should watch these set of video segments. If you thought 700 Billion was a lot to pay to get bailed out, try 60 Trillion on for size. That is how big this blow up is and why, even though it was created here by Wall Street, it has now effected every country in the world, and yes, it will effect you and I, if it hasn't already.
Click on the link below and then push PLAY on the first segment called "A Full Blown Financial Storm". It should automatically show you a set of segments, one after another, with a few short ads thrown in of coarse. These will explain better than I have seen explained anywhere else, who, why and how this all got started and just how big it really is.
It's short and to the point, just the highlights.
Stay healthy and watch your stress levels... Nutritional needs go way up in times like these.
Wednesday, October 8, 2008
Wall Street's Shadow Market: Credit Default Swaps
On Friday Congress finally passed a financial rescue package to buy up Wall Street's bad investments. The numbers are staggering, but they don't begin to explain the greed and incompetence that created this mess. It began with a terrible bet that was magnified by reckless borrowing, complex securities and a vast unregulated shadow market worth nearly $60 trillion that hid the risks until it was too late to do anything about them, and it's far from being over.
WATCH THE 60 MINUTES REPORT
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Christopher Wiechert's Healthblogger is for educational or informational purposes only, and is not intended to diagnose or provide treatment for any condition. If you have any concerns about your own health, you should always consult with a health care professional. If you decide to use this information on your own, it's your constitutional right, but I assume no responsibility. The views expressed on this website are those of the health professionals & scientists I list or my own opinions and are not intended to replace any medical advice you may require. The contents have not been approved by the Pharmaceutical Association, the American Medical Association, or the Food and Drug Administration. This website may present views diametrically opposed to the views of such organizations.
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" The significant problems we face cannot be solved at the same level of thinking we were at when we created them." Albert Einstein