It isn't really that bad. Here are the main things:
Eating fast means that the food does not always get chewed into small enough pieces. This could cause your stomach problems and it may not be able to digest the large pieces properly.
Eating fast leads to overeating because the brain does not register that you are full. It takes anywhere from 15-20 minutes for your brain to register this. Eating slow allows your brain and stomach to realize that it is full so you eat just enough.
Eating your food slowly will cause you to swallow less air which results in bloating, trapped wind and flatulence.
Swallowing quickly sends food down to the stomach without much saliva and the work in the body is greater and less efficient. Eating slowly will allow the taste buds to activate and generate Saliva.