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- Aired October 5, 2008 on CBS
- Reporter: Steve KroftCBS News: A Look At Wall Street's Shadow Market (October 6, 2008)
- Producer: L. Franklin DevineCBS News: Up Next
- Top executives at Bear Stearns, Lehman Brothers, Merrill Lynch , Morgan Stanley, Goldman Sachs, and American International Group (AIG) declined to be interviewed for the showCBS News: A Look At Wall Street's Shadow Market (October 6, 2008)
- The news show 60 minutes has aired on CBS since 1968
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The 60 Minutes segment Wall Street's Shadow Market aired October 5, 2008 on CBS. The episode looked at the background and causes of the 2008 financial crisis.CBS News: Up Next
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The segment looked at some of the causes of the 2008 financial crisis, claiming that "reckless borrowing" and a lack of regulations was some of the causes of the mortgage crisis that developed into the current financial crisis. Sources interviewed included Jim Grant, editor of Grant's Interest Rate Observer, Frank Partnoy, a former derivatives broker, Michael Greenberger, former director of trading and markets for the Commodities Futures Trading Commission and the CEO of the International Swaps and Derivatives Association, Robert Pickel.CBS News: A Look At Wall Street's Shadow Market (October 6, 2008)-
60 Minutes Wall Street Shadow Market News
- CBS News: A Look At Wall Street's Shadow Market: Transcript of Show (October 6, 2008)
- Official Site: 60 Minutes
- CBS News Video: Wall Street's Shadow Market Video Clip
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60 Minutes Wall Street Shadow Market Questions
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How will a derivatives central counter party reduce profit margins for Wall Street Bankers? 1 AnswerFor one those products will be standardized, and less "shadowy" than the ones that were available before. That will - in theory - improve the transparency and e... read more -
Who was the first woman to set foot on Wall street trading floor in 1943? 2 AnswersThe first woman to hold a seat on the NYSE is Muriel Siebert. The first woman to actually work on the floor was Helen Hanzelin. In the links below I have inclu... read more -
Wall Street's recovery means bonuses are going back up. Though they are a standard part of normal compensation, should they be limited? 4 AnswersYes, I think that until the economy is back to a thriving point, that bonuses on Wall Street should be limited. I understand that there should be a bit of compe... read more -
What's wrong with bonuses when Wall Street is booming? 4 AnswersThe way I see it there is no good reason not to issue out bonuses. It is true that many managed funds were extremely over leveraged, but so were some of the fi... read more
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