Discussions of Book of Mormon issues and evidences, plus other topics related to The Church of Jesus Christ of Latter-day Saints.

Tuesday, September 30, 2008

Revised Bailout Plan Explained: Make Sure You're Seated and Relaxed Before Viewing This

Finally, a clear explanation of how the bailout will work - as well as a review of the basics behind the Fed and the intricate financial instruments on Wall Street. Skip the first 15 seconds if you're in a hurry. The vocabulary has been watered down slightly from the normal jargon of the Dept. of Treasury and Wall Street gurus, but it's still accurate. Indeed, they've done a tremendous job in explaining the details. If you been puzzled by collateralized debt obligations (CDOs), swaps, derivatives, mark to market, and other core concepts associated with the bailout, this should make it all clear. If I'm not mistaken, the voice is that of Henry Paulson, Secretary of the Treasury - or is it Alan Greenspan? Watch this while relaxed. Hum a little. This will help.

I'm not kidding - it's amazing how meaningful some of the statements in this video are, so strangely aligned with the messages emanating from the White House and Wall Street. Maybe they are much more into religion than I thought?

I especially recommend the middle portion, about from about 2:45 to about 4 minutes into the clip. Nice parallels.

Don't you feel better now?


Anonymous said...

I don't know about everyone else, but that certainly clears it up for me.

Anonymous said...

rofl! How appropriate!!

Yep, that sounds exactly like the politicians trying to sell the bailout to us. LOL

I could only make it through about 15 seconds of it.

Anonymous said...

How can something go on for 7 minutes and say absolutely nothing?

Jeff Lindsay said...

BruceC, I see you don't work in corporate America, or that you don't listen to politicians on CSPAN. I've been to many presentations by business leaders who can weave together buzzswords for an entire hour or longer without saying a single intelligible thing.

It's easy, with a little training. You don't even need an MBA for this.