Financial storm and one that comes around perhaps one every 50 or 100 years. This is the real thing. And much of what went wrong on wall street could be traced back to something called credit default swaps. They were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] it has tentacles as wide as anything ive seen. I think, next to housing, this is the single most important issue in the United States and certainly the largest threat to the u. S. Economy. Meredith whitney was talking back in 2010 about a then looming financial crisis involving state and local governments across the country. It was a debt crisis which some people believe could derail the recovery and require another big bailout package that no one in washington wants to talk about. The day of reckoning has arrived. Thats it. And its gonna arrive everywhere. Time may vary a little bit depending upon which state youre in, but its coming. [ticking] welcome to 60 minutes on cnbc. I
Supposed to be speaking. There does not seem to be an overflow crowd on the outside. Six members of Donald Trumps staff have been taken ill or tested positive for coronavirus including two members of the secret service. According to nbc reporting they have been on the ground in oklahoma for a few days not social distancing and not wearing masks. I want to go to cal perry real quickly outside the bok arena to give me a sense of what is happening there. Reporter so we moved into the street, the one we were next to. On this end you have a very small contingent of black lives matter protesters along with the Trump Supporters who chose not to go into the arena. On the other side you now have a very large crowd of Trump Supporters waiting to get into the arena. They have shut the gate because we believe the president is arriving. That is standard procedure at these rallies. When the president arrives, they shut that gate. What happened a couple hours ago . There was a small contingent of bla