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Walking Street

Wall Street's Shadow Market


Steve Kroft looks at some of the arcane Wall Street financial instruments that have magnified the economic crisis.

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: CBS

Length: 12:04
Rating: 4.76
Views: 15495

Tags: crisis  economic  financial  kroft  steve  street  wall  

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Video Comments

gkolompar (November 30, 1999 at 12:00 am)
anyone thought about putting the blame on OFHEO? just a little. one cannot expect responsibility from any speculator or investor beyond what he his bound to legally. that's why we have laws and regulation. oh, right sorry, we did not have them. that was the whole point. 1 million $ question: who is responsible for making laws & regulation?
intheknow777 (November 30, 1999 at 12:00 am)
These are debt collectots for the bankers AKA Fed Resrv. Go figure!
tygonejet1 (November 30, 1999 at 12:00 am)
Patriots of Capitalism, tx for crashing the world econ. Glad U got that commish?I guess 50 mil a yr isn't normal for a kid out of college? Tx for burying us w/these default swaps. I liked it better when you were jumpin out of windows;oh but you got rich off this one? I'm workin my last day at Mervyn's(were having a goin out of Biz sale). NY is lookin like Escape From NY in this vid; how telling that is. I'm headed to Costco right now to buy $500 worth of Top Ramen and an eye patch.
jbryant13 (November 30, 1999 at 12:00 am)
You didn't read what cybervisionstar said: He said what we have is socialism MASQUERADING as Capitalism and he's right. What we really have is socialism for the rich where gains are privatized and risk is socialized (ask anyone with a 401k!). Wall street banks get bailed out - CEO's get their bonuses - and the shareholders get the shaft (Ask Bear Stearn's/Enron employees)
robrown1 (November 30, 1999 at 12:00 am)
Google UNIFIEDMARKETS.
myheroxero (November 30, 1999 at 12:00 am)
Oh, brother. Another chorus about the motive and the bullets (and even how they were made), but no mention of a smoking gun. So much for investigative reporting...
petercom10 (November 30, 1999 at 12:00 am)
go to north korea i hear they don't have capitalism, good luck!
dankbot420 (November 30, 1999 at 12:00 am)
how can we have a market grow to 50 trillion and not have any regulation?
dankbot420 (November 30, 1999 at 12:00 am)
crime?
cybervisionstar (November 30, 1999 at 12:00 am)
So we credit card holders do not have to pay back the money the banks never had the money to loan in the first place right?

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