Dow dropping 32 points. S p giving up. 37 . Nasdaq declining. 25 . And we seem to fold in angst to run from stocks as if theyre toxic instruments doomed to ruin our Bank Accounts the house of pain. So perhaps its a good moment to ask do we fret too much . Do we let our fears take hold when the market reverses . Do we let a small drift, you know, one of these ones like today, define us after the s p been up eight days straight. Or as stocks decline, do we recognize we sometimes get too worried when events or earnings or trends go against us . Just think of what has really happened in the last two months alone. How much do we fret . We fretted endlessly that one day, one day we would, indeed, have a dramatic rise in Interest Rates. So what happened . We got one. A huge percentage increase, a whopper of one. What does the market do . Well, how about giving the s p 500 the longest winning streak in nine years, how about the nasdaq 100 going up 14 straight days, best since 1990. We were sup
Of gaming laws. But in 2000, Congress Gave wall street an exemption thats turned out to be a very bad idea. Its legalized gambling. It was illegal gambling, and we made it legal gambling. With no regulatory controls. With absolutely no regulatory controls. Zero, as far as i can tell. I mean, it sounds a little like a bookie operation. Yes. [watch ticking] i dont to die. I shouldnt have to die. Helen sharp, suffering from lymphoma, just got the letter that says her county hospital is cutting charity care to Cancer Patients. Its a symptom of the recession Public Hospitals forced to cut Vital Services just when people need them the most. When you read this letter, what did you think it meant to you . A death sentence. Welcome to 60 minutes on cnbc. Im steve kroft. In this episode well meet some big winners and some big losers in the high stakes game of world finance. Up first, the secret vaults of geneva and zurich, which have served as repositories for the wealth of dictators and despots
I would have given up. I guess i still believe that we can recover our democracy from the Police Stated becoming. Terms of encryption, im not a technologist that even i heard ahow to use pgp, good privacy. Its easy. You can install it as a nap on your phone and put it on your computer. It is just one of many encryption mechanisms. Adm, otr, tor, tails. Others get more sophisticated gp is pretty basic encryption thats not too difficult to looearn. Partieshave some crypto really, they do this and other countries. I believe every journalist should learn how to use basic encryption. Of theon the board freedom of the press foundation with edward snowden. If you look at press freedom foundations website, we have made available and encryption methods for journalist like those for wikileaks i can be. Icked up for he and used they will walk you through it. They have secure drops so people can blow the whistle through news outlets in a secure way. Can actually really help in this endeavor. You s
I wrote a letter to general alexander, my final whistleblowing at nsa. I lost my job. I ended up in an office that had no responsibility and know many and nobody reporting to me. I ended up at the National Defense university and i made a fateful decision. In 2005, it is important to summarize for you what actually took lace in terms of press reporting. It was fundamental to beginning to unravel precisely what the government had been doing in such deep state secrets all those many years since 9 11. James risin, Eric Lichtblau they held onto this for 14 months, blockbuster article revealing for the first time the existence of the socalled the terrorist Surveillance Program. They launched a criminal leak investigation to find the source of that article. Investigation to find the source of that article. My new when they launched the investigation that i would become a rhyme target because the set a prime target because the set of people who knew about the Surveillance Program was a sword n
Let them eat cake. Since our report first aired, the bakery has moved into its maya lindesigned facility and more than doubled its brownie production for ben jerrys, the vermont ice cream company. Julius walls jr. Resigned as c. E. O. Of the greyston bakery in 2009 to pursue a fulltime church ministry. His successor, william mistretta, is the first baking Industry Professional to run greyston as it continues its Double Bottom line mission. Thats this edition of 60 minutes on cnbc. Im steve kroft. Thanks for joining us. Captioning by captionmax www. Captionmax. Com [watch ticking] Bradley Birkenfeld spent most of the last decade living in switzerland helping wealthy americans hide their money. Youll hear how he did it and how he touched off an investigation that would shake 300 years of banking secrecy to the foundation of its underground vaults. How unusual is it for a swiss banker to come forward and say, this is how it works . Its never happened before in history. Im the first one. [