the bet that blew up wall street: The Bet That Blew Up Wall Street - 09/12/11 11:30 AM
Outstanding segment from 60 Minutes:
"In other words, three of the nation's largest financial institutions had made more bad bets than they could afford to pay off." "It's legalized gambling. It was illegal gambling. And we made it legal gambling…with absolutely no regulatory controls. Zero, as far as I can tell." "It would have been illegal during most of the 20th century under the gaming laws, but in 2000, Congress gave Wall Street an exemption and it has turned out to be a very bad idea." ---
Anyone with more than a casual interest in why their 401(k) has tanked over … (2 comments)

 
Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty)

Mirela Monte

Myrtle Beach Real Estate

North Myrtle Beach, SC

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