Business: September 2008 Archives

This post at Daily Kos is the best summary I've read about how we reached this point of near collapse of our financial systems. Spoiler alert: former Senator Gramm (McCain's chief economic adviser) and formed Fed Chairman Alan Greenspan are bad buys. Here are some interesting statistics, which come from a conversation between business correspondent Bob Moon and host Kai Ryssdal on American Public Media's "Marketplace" in the spring.

BOB MOON: OK, I'm about to unload some numbers on you here, so I'll speak slowly so you can follow this.

The value of the entire U.S. Treasuries market: $4.5 trillion.

The value of the entire mortgage market: $7 trillion.

The size of the U.S. stock market: $22 trillion.

OK, you ready?

The size of the credit default swap market last year: $45 trillion.

KAI RYSSDAL: That's a lot of money, Bob.

So we can't have health care for everyone because that would be socialist, but the government just took 80% ownership of AIG? Crazy.

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We first put up the website, and had a few sites in addition to ArtCal, in August of last year. We've now reached over 40 sites with over 400,000 unique visitors and 1 million page views each month. Here is the official launch press release.

This page is an archive of entries in the Business category from September 2008.

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