Meltdown The men who crashed the world. Aljazeera PART 4

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

Tags:

• World

[shepardalbertson]

most comprehensive documentary i've seen on this topic, by far.

[natefeez2]

4 years later...Things sure don't seem to have changed much. The U.S. still doesn't regulate derivatives, the poor still are paying the rich and interestingly...the rich are the only ones saying the economy has gotten better.

[avzeolla]

goldman's like 5 steps ahead of this congresswoman.

they might be able to after their yachts, but those guys have their money hidden all over the place. they're not stupid.

[AHFlynn]

thanks for posting this up, it seems its no longer on aljazeeras website anymore.

[sanriver12]

this needs spanish subtitles

[JonathanSeagullUtube]

from 25:49 to 26:30 in the video is truth ! Canadians "owe" $160,000,000. a day in interest. Debt slaves, we all are, for generations. "Statism" is crime business. Money is stolen from you (tax). Less than 5% of this stolen money gets 'paid back' to the 99.% of the population. Do you have a say where or what your money is spent on? Would you vote to spend your money (stolen tax) on invading Libya? Direct/Participatory Democracy: everyone votes on important issues! Ongoing direction Zeitgeist.