Episode
60 Minutes: Credit Default Swaps, T. Boone Pickens, Goronqosa
Overview
It sounds complicated and it actually is, but tonight, Steve Kroft makes it a lot easier to understand: Credit Default Swaps and their role in the unraveling of the economy. Charlie Rose interviews T. Boone Pickens, the multi-billionaire oil man who claims to have a plan to make the U.S. far less dependent on foreign supplies. Could it really work? Finally, Scott Pelley with Greg Carr, a U.S. citizen trying to make Gorongosa, a Mozambique, African location into one of the world's newest tourist destinations.
Details
- Series
- 60 Minutes
- Season
- Season 41
- Episode
- Episode 5
- Air date
- 2008-10-26
- Runtime
- 44 min
Episode context
Credit Default Swaps, T. Boone Pickens, Goronqosa is Episode 5 in Season 41 of 60 Minutes. It aired on 2008-10-26. The runtime is 44 min.
Previous / Next
Episode 4: al Qaeda Stronger, Government owned banks, Bullfighting today
Foreign born al Qaeda in Afghanistan gaining strength and sophistication. Lara Logan with Major General Jeffrey Schlosser and how this is happening.
In a second, very timely story, Lesley Stahl with what we might be seeing now that the government bail out has put government in the private sector.
Bob Simon with two brothers, Cayetano and Francisco Ordonez, probably the most recognized matadors in Spain. While taping this segment, a critical injury occurs when a 1,300 lb bull gets the best of a top matador.
Episode 6: Welcome Home, you're fired, Fake Cop, Bionic People
Tonight, an atrocity exposed when Lesley Stahl investigates thousands of reservists and guardsmen returning home from duty to find their jobs gone. Some blatantly fired for "being gone too long" and others victims of downsizing while they were Iraq or Afghanistan.
A small Missouri town's newest Sheriff, Sgt Bill Jakob, was cleaning up the streets like no one else. Arresting drug dealers and other criminals, the mayor thought he was the best thing that happened to his town. Unfortunately, he wasn't really a cop at all.
Finally, Scott Pelley reports on how the future is now. Technology connected directly to the human brain, enabling communication with people otherwise trapped in a paralyzed body. What's next is even more remarkable.
More episodes from this season
Episode 3: Made by the Mob, High Tech War, The Oldest Family Business
CBS News correspondent Armen Keteyian interviews Joaquin (Jack) Garcia, a fascinating undercover agent who infiltrated the Gambino crime family and was instrumental in bringing down the mob. A Cuban-American, Garcia was adept enough at pretending to be Italian that he was integrated into the deepest levels of the most dangerous mobster family.
Lesley Stahl explores the most advanced weaponry being developed and used in the war in Iraq. You won't believe how high tech it gets.
Finally, Morley Safer with the Antinoris, the family with what is believed to be the oldest family business in the world, Italian wine-making.
Episode 7: The Inner Circle, The Wasteland, Ted Turner
Behind the scenes and a part of the "inner circle" with Steve Kroft on election night with Obama. You really haven't seen this anywhere else and it's both warm and fascinating.
Then we go to China, a land of secrets and lies. Scott Pelley follows the trashed technology we think is being recycled and safely disposed of as it ends up in China where it's anything but safe.
Finally, Morley Safer going toe to toe with mogul Ted Turner in one of the most candid interviews he's given.
Episode 2: Wall Street's Shadow Market, Kill bin Laden, 0 to 60 on a battery?
In tonight's first story, Steve Kroft with the details you might not have heard about the unraveling of the economy. What are 'credit default swaps' and how did they play a role in the downward spiral? The complex degradation of our economy is explained.
Scott Pelley re-visits the first weeks after 9/11 when the appropriate focus was on the instigator of the massive, tragic terrorist attacks, bin Laden. A former Delta Force Officer recounts the secret missions in the Tora Bora Mountains near Pakistan and never before seen video will shed new light on what really was (and is) going on.
Finally, Lesley Stahl with a story from Silicon Valley in California. While cars running on batteries isn't really news, one that can go from 0 to 60 in four seconds is the stuff fantasy is made of. The newest cars are being developed to run on Lithium-ion batteries, just like the one in your laptop. We're not that far away. All this and Andy Rooney's financial advice tonight on 60 Minutes.
Episode 8: Obama's First Interview, Musical Savant
Steve Kroft with President elect Obama's first post election interview. This is expected to be one of the most watched shows of the season as Barack Obama talks about his plans for the next four years. He also discusses his cabinet choices. Wife Michelle is also interviewed.
In the second story, Lesley Stahl re visits one of the most amazing musical savants known. Rex Lewis-Clack's life was changed when his parents found that their son, born blind and mentally impaired, was extraordinarily gifted. Now, at 13, see how far music and his gift has taken him.
Episode 1: The Bailout/General O/The Collider
"The Bailout" interviews Henry Paulson about government action on the economy. "General O" interviews General Ray Odierno the replacement for General David Petraeus. "The Collider" looks at the Large Hadron Collider and what scientists seek to learn from it. "Andy Rooney" discusses the Vice Presidency.
Episode 9: Easy Nukes, For Better or Worse
Imagine the size of a 6-pack of soda able to cause a nuclear explosion. That's about all the HEU (highly enriched uranium) it would take and it's not so difficult to get.
Scott Pelley explores how easy it is to get a hold of the materials necessary to make a nuclear bomb. Matthew Bunn, security expert at Harvard's Kennedy School of Government, concurs that access to HEU is not as difficult as it should be.
Episode 10: The Cheaters, The Silver Star, Michael Phelps
Online gambling is illegal in the U.S., but it's a nearly impossible law to enforce. In this story, a group of men turn a dishonest cyber-poker game around and cheat to the tune of $20 million. In the second story tonight, Lara Logan reports on the second woman to ever win the Silver Star (the first being in World War II). Monica Brown wasn't even supposed to be there when she ended up saving two wounded men in battle.
Also tonight, Michael Phelps talks with CNN's Anderson Cooper. This 23 year old Olympic record breaker, now a marketing millionaire and still remarkably personable.
Episode 11: The Oil Kingdom, Schnabel
Lesley Stahl visits Saudi Arabia and tours the oil producing facilities while interviewing Saudi officials. Though prices have plummeted in recent months, they're not worried. What's in store for us, and them.
In our second story, Morley Safer with Julian Schnabel, a powerhouse in art and film who made his initial mark in the 1980's and has never looked back.
Episode 12: Barney Frank, Where's the Bottom? And Win Forever
Lesley Stahl speaks with House Financial Services Committee Chairman Rep. Barney Frank (D.-Mass.)
Scott Pelley investigates the deepening mortgage crisis; Byron Pitts profiles USC football coach Pete Carroll; And Andy Rooney checks his mail.
Episode 13: Governor Schwarzenegger, Airport Security, Elephant Orphans
Scott Pelley with Arnold Schwarzenegger and the sad state of the State of California. The man who once topped box office charts, now a political leading man despite facing some huge challenges with California's economical spiral.
Also tonight, Lesley Stahl and the latest on airport security measures. Where weaknesses remain, where new tools are being tried and how Kip Hawley (outgoing head of TSA) feels poor reports are unjust.
Finally, Bob Simon follows up on the orphaned elephants of Kenya. Why their numbers are still significant.