Meltdown The men who crashed the world. Aljazeera PART 3

In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.

The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong?

Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.

Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.

All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.

• Category

  News & Politics

[D0W666]

Jews? No.

Rothschild Zionists? Yes.

There is a big difference. The Jews have been used as cover by these Khazar motherfuckaz for over 300 years. The Elite are relying on the people blaming 'the Jews', they will be loving it when they read remarks like yours.

'Rothschild Zionism' = blight on the planet

'Rothschild Zionism' check it out.

[cruisersism]

WHERE IS THE PROMISES OF THE GREAT OBAMA??????

[Truthman120]

I watch all these older collapse videos and nothing has changed since. Everything is still the same.

[DJJuhahaj]

Please US, start hanging bankers NOW!

[Daniel Miller]

Great, another Alex Jones watching conspiracy theorist. That theory has been debunked time and time again.... I'm surprised to see you morons on a video as legitimate as this.

[synapse131]

Republicans want serf workers; that's why they bust unions.

[synapse131]

Obama should have pushed for really high taxes on the wealthy and bargained down from there instead of only trying to get small tax increases and then having to bargain to nothing. He's obviously a terrible poker player.

[synapse131]

We used to buy products in the 1950s and it wasn't like this. But what was different was the tax rate for the wealthiest incomes at 70-91%. This kept the wealthy from taking large salaries out of their companies & that money went to worker salaries & company infrastructure instead. The wealthy made their money by investing (lower capital gains taxes encouraged investment and acknowledged inherent risk in investing) and this helped fuel growth. These high taxes helped keep balance to the system.

[Tim Dy]

banks are now bigger than ever. and the bonuses in 2012 were the biggest ever. no one has gone to prison.

[Aegis Shifted]

Big Banks and Wall Street are a bunch of greedy vicious people who will do anything to get a bigger bonus check. But it's our own fault for playing into their hands. It's our own consumerism that pushes us to spend money we don't have that gave them their little game to play. Throw a stake into a lion's den and they will eat it. If only people would not overextend their pockets, there would be no steak to throw.

[TheRatboy679]

Anybody notice the vampire at 35:38

[043justdoit]

they spit into sandwiches ? the French really do know how to show their disapproval and anger don't they? haha