We’ve just lived through the biggest financial crisis since the Great Depression, but what’s being done to prevent this situation from happening again and wreaking havoc on your financial future? In the season opener, Pam takes a walk down Wall Street to see how this epicenter of money has changed – and what that means for market investors.
Darnell, a MoneyTrack viewer in New York City, asks what will prevent small banks from getting large and failing, just like the big ones? In our Investing 101 segment, MIT economics professor Simon Johnson explains how proper reform and regulation could make a more stable financial system, with safety nets put in place for individual investors. Download Simon Johnson’s full interview transcript.
The Scam Alert features an Arizona con artist who practiced affinity fraud for more than a decade. Dennis Cope, a seminary teacher in the Mormon church, promised investors no-risk, high-yield returns of up to 120 percent a year, then immediately diverted their funds into his personal bank account. But one defrauded investor helped authorities put together the case that put Cope behind bars.0