June 23rd, 2012: Credit default what?? Derivatives?? How about financial Armageddon?
This morning the crazed citizen Watchman, Todd welcomes Bob Pennington, a financial expert with years of experience in the mortgage and financial markets to explain what happened in 2008 and why, as well as what is going on now (In case you missed it, 15 banks had their credit ratings downgraded) and how we are on the brink in our financial system yet again.
It’s a VERY VERY technical show this week, but Todd and Bob break down the terms, and events for us to help illustrate the hole we are in, and just how dangerous this is.
Not to worry though, they also talk about ways to defend yourself from the calamity that IS coming!