I'm going to a Oh, Welcome my friends. Welcome to this special emergency broadcast of the Corbett Report. I am your host James Corbett broadcasting to you on this 21st day of September 2008. Given the

gravity of the topics discussed in today's episode, we will dispense with the usual formalities.

Suffice it to say that all of the documents cited in today's episode can be garnered from Corbett report.com under today's

episode in the documentation list. And now without further ado it is time for today's real news. Today's first story comes from the Corbett Report, 17th of September 2008, Black Monday 2008, Financial Armageddon highlights fraud of

monetary system. First we laughed about it, then we blew up about it, then we became delusional about it, and now it's here.

Financial Armageddon has arrived in the past two weeks. First, the U.S. Treasury Department

nationalized Fannie Mae and Freddie Mac, agreeing to throw the weight of the entire U.S. Treasury

behind the faltering duo that guarantees a five trillion dollar share of the U.S. mortgage market. the After last-ditch efforts to arrange a shotgun wedding for the Ailing Investment Bank fell through,

Lehman Brothers filed for bankruptcy on Monday morning, becoming the largest bankruptcy in U.S. history.

This triggered the biggest drop on U.S. markets since 9-11,

and was quickly followed by comparisons to the Great Depression

by billionaire financial wizards.

Oh, and did we mention the Federal Reserve just took over the largest insurance company in the U.S. to prevent the worst financial collapse in history?

For those who wondered what the beginning of a depression collapse in history.

For those who wondered what the beginning of a depression looks like, you now know.

As a result, Joe Six Pack and Sally Soccer Mom are suddenly interested in learning the financial jargon

that is starting to affect their lives. New words to Google, or better yet

scrugal, include collateralized debt obligations, credit default swaps, and of course

derivatives. But there's one more exotic invention of the financial wizards behind

the curtain that it would benefit us to learn more about.

Money.

It's a question that even children know enough to ask and adults don't know enough to answer.

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