Lessons from Lehman and the Coming Crash | VPRO Documentary (2018)
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- Опубликовано: 17 сен 2024
- Have we learned the lessons from Lehman and could we have predicted the coming crash? Ten years ago, the crash on Wall Street took us by surprise when Lehman Brothers' bank went bankrupt. The financial crisis that followed this crash on Wall Street was like a chain reaction; a pole dancer with her five mortgages turned out to be connected to the huge gap in the Greek national budget. Is it possible to predict the coming crash? What are the lessons learned from the collapse of Lehman Brothers? Can we predict the coming crash of Wall Street by looking back to the last 10 years and take a lesson from Lehman? A new investigative financial documentary by VPRO Backlight.
Original title: Silence before the cra$h
Sometimes, it is important to look back in order to predict what we might be heading for. Ten years ago, we were taken by surprise when Lehman Brothers' investment bank went bankrupt. In the followinf months, banks needed saving. Millions of tax payers money was used. Worldwide, banks, villages, cities, and even countries went bankrupt or were hanging by a thread. Few, if any, bankers were convicted. Crypto currencies like bitcoins thrived on the growing suspicion towards banks and governments. Finally, central banks around the world set up buying asset purchasing programmes in order to create cash out of nothing. A strategy to pump money into the financial system, hoping to keep it afloat. What have we learned from this crash and its consequences?
Over a period of ten years, VPRO Backlight reported on the snowballing financial crisis. It turned out that a journalist, a former banker and an economist had predicted the 2008 credit crash and are now warning against a new crash. We pay them another visit to find out what they had seen, where many others were blind. If we look hard enough, can we see why we are now in the calm before the next crash?
With: Nomi Prins (author & ex banker Goldman Sachs and Lehman Brothers), Ann Petifor (Economist) and Isabella Kaminska (journalist Financial Times) with cameo's by Jim Rogers (super investor), Roger Ver (bitcoin-evangelist), Joris Luyendijk (journalist) & Yanis Varoufakis (former minister of finance Greece).
With more than 2.2 million views on the VPRO Documentary RUclips channel only, Marije Meerman publishes a new financial documentary, looking back into Wall Street, and talks with financial analysts and specialists worldwide about predicting a potentially coming crash. Marije Meerman's previous financial documentaries are also available on this channel: Quants - The alchemists of Wall Street, The Wall Street code, and Flash Crash 2010.
Originally broadcasted by VPRO in 2018.
© VPRO Backlight September 2018
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Credits:
Director: Marije Meerman
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.
*Friends I'm not telling you to resign from Your Job or abandon Your business, I'm telling you to create another source of income.....BE wise*
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today
Most intelligent words I've heard.
Crypto is the new gold
I wanted to trade Crypto but got discouraged by the fluctuations in price
@prosper That won't bother you if you trade with a professional like Mr Barry Silbert
I love VPRO documentaries. Big fan of VPRO
Thanks GP! Do you know our other channel? You should check it out! It´s vpro world stories! ruclips.net/channel/UCqJ6GC0klkbFuQa-0ZePqkQ
Creating money out of nothing is the same as printing counterfeit money in the basement
I live in the US and our political officers have been bought and paid for by large corporations and the rich. These are people that think they can "survive" a crash and just go elsewhere if (when) this happens. I hear so much about US over consumption. Please believe me that the average person here can't afford to over consume. We are now just forced to overpay. There aren't enough jobs and the jobs that do exist don't pay enough. We are the only western nation with exhorbitant healthcare prices and no national medical plan. Our wages have been stagnant for 30+ years. In order to maximize profits and satisfy their greed, the manufacturers have moved production overseas to take unfair advantage of areas that have cheaper labor and few rules. The wealth disparity has been growing since 1980 (Reagan/Thatcher). We literally have entire cities and towns going broke while or congress gives tax breaks to the people who need them the least. We have a fractional banking system that's based on creating false money (10-1) but demands to be paid by people who are actually making goods and growing things at increasing rates. These same banks are asking for less regulations while they continue to rob the US public and the rest of the world. The big corporations have far too much influence because they literally pay off politicians to NOT fix these problems while the whole world suffers as they continue to steal from everyone. It's really bad but I have to say how much I appreciate VPRO Documentaries. Maybe presentations like this will help motivate people to make the changes necessary. Thanks for posting this.
Loving the way you are posting latest documentaries, keep it coming.
Thank you Arjun, we have some pretty exciting new ones coming including one about Boyan Slat and the big ocean cleanup! I keep asking it but if you want to support us, please subscribe to our channel, comment, share our documentaries on multiple platforms. We can use this!
i keep doing that already :)
Thank you so much. We REALLY appreciate it!
It's interesting, as we hit a ten year anniversary from the crash, it seems like we really haven't learned much. But that's to be expected; if we really learned anything, we'd realize that we need to separate ourselves from the entire system. For years, we really didn't have an alternative path. But with cryptocurrencies and P2P lending, things are getting more exciting.
And as we continue to repeat the same mistakes, these solutions are coming at the right time. With rampant mismanagement of monetary policy, ridiculous levels of stock buybacks, and a global economy still in shackles, it all seems like the perfect storm. It's a matter of when we get a big enough catalyst to push the tones of markets; then we'll see the dominoes fall very, very fast.
Did you invest in cryptocurrencies yourself?
Yeah, my channel is based around cryptocurrencies and financial markets. We had a huge meetup in the Netherlands back in January with well-over 60 people from our community (Amsterdam was lovely by the way)! It's awesome to see how it's grown as a space, but I feel it's just getting started. I loved your coverage of the space through the Bitcoin Gospel documentary, as always, your team is ahead of the curve on upcoming trends. But I highly recommend you cover the space again, much has changed since and there's a lot to talk about.
About that....Watch the interview with the director of this documentary: ruclips.net/video/hQyIgUm2i9E/видео.html
We're happy you're enjoying VPRO documentaries. You can support us by sharing with your friends. And glad you liked Amsterdam, it is a beautiful city.
any recommendations for investing? i want to be a part of this
lol datadouche cryptocurrencies are 10x worse
the bankers & politicians should all be in prison
Don't panic, all is well that ends well, that is my first thought. Next thought, enjoy our beautiful world while you can.
Ultimate irony: the CEO/chairman of the waterworks sips water as he’s telling the Greeks it’s going to be sold to 🇫🇷! WTF
great documentary, it's a pity people are more concerned about hollyweird ppl than about the system that literally shapes their lives.
Thank you Noel Garland, have you seen the other documentaries about the financial world? Might be of interest as you liked this one! ruclips.net/p/PLuECoz9_QThSQUiuXN3gxK7sWvvqkDJmJ
I love how they feature women economists/financiers. The unicorns have made an appearance. :)
superb documentary.
Meanwhile in France for the anniversary of the Lehman brothers collapse, activists painted the HSBC banks with black paint symbolising the bank's investment in fossil fuels.
Cool story
Thanks for this great video.
Thanks for your comment quest 77051!
Another great documentary by VPRO. If I understand the predictions correctly, are the three Cassandra's mostly worried about the upcoming period during which Quantitative Easing in various parts of the world (U.S., Europe, Japan) need to be reversed to a more normalised situation. They seem to fear that this will lead to a new crash, is the takeaway I get from the documentary.
Thank you windmill1965! Did you also check out the interview with the maker of the documentary? ruclips.net/video/hQyIgUm2i9E/видео.html
Agreed
QE and ZERO% interst are the only thing keeping banks and stocks going
20:20 sums it up.. Usually we think in any market euphoria its the retail investors that lead the tail end of the parabolic rise and institutional investors sell using that. In 2008 its the same institutions that multiplied it in a planned euphoric way shorting it all through knowing governments will bail out in the end to stop the crash and took profits from those shorts.. All we do meanwhile is watch this story unfold.. Sure we all know next big thing is coming but only these institutions know the timing of it that's the way this system is designed.
i don't understand why this lovely documentaries about 2 or 3 minutes local language which you can read the subtitles like English and more languages if you don't know how to choose the language the do not complain about these free service
Don't put the title in english if the narration isn't in english.
Turn on the subtitles.
great
Nederlandse ondertiteling is altijd welkom, beetje stom dat je engelse ondertiteling moet aanzetten om de andere talen te verstaan.
Hi Horus,
You can watch this episode with Dutch subtitles on vpro.nl.
NOW in 2022... you guys are ADMITTING TO THIS SOFTWARE AND ALGORITHMS?!?!?!?!....What the heck !!!!.....
I just realised what this is.... those "exchanges" are basically a form of "peer to peer" lending.... So it is... making the lending... to recruit back the lost debts. And this is how we .. as a generation now, is going to be forever living on loans... for a generation. Migrants. Oh god.... Aka "shadow banking" is basically P2P.... and also... basically... the current new form of "bitcoins"... lending...?!!
Why is the narration is Dutch with no subtitles?
Hi Vine Time, in cc, right in the video, you can turn on the subtitles!
Why the title is in English if the program is not?
So you can understand what the docu is about when browsing the channel?
Its like a reverse MMT, but the money going to the 1% rather than the many.
No its simple who owns the morgage. No one
Where can I find this in English?
You can use the English subtitle....
Please provide English subs for the hard hearing
Hello Miami Cosmo,
We apologize for the inconvenience. We wish we could do that, but we do not have the budget for this at the moment.
It is something that we wish to be able to do in the future.
@@vprodocumentary Thank you for your swift response. I hope you will get funding to be able to keep making insightful documentaries for everyone to enjoy.
We also hope for it, and again we are sincerely sorry for the inconvenience. (I am myself - Community manager - hearing impaired, I have been making a case about English titles for the hard hearing, but we simply cannot do it yet.)
next up housing crysis in australia (canada?)
pas de traduction en francais , c est dommage !
excellent!
Thank you serge. Please share it with your friends if you liked it. It will help our channel.
Dear VPRO. Please translate (Voice) in English... Please Please..
The English speaking is in English. The other languages are in subtitles.
The last comments on this video are more than proved by what has happened in 2020
Great doc congrats
Thank you so much Luis Fernando. Please share it with your friends to support us!
agree!
It saddens me that people (mainly Bitcoin evangelists) do not understand that Bitcoin is not decentralized in the way that we the people need decentralization, Bitcoin does not democratize the process. Bitcoin, instead of being controlled by central banks, it is controlled by huge mining pools or "whales" who basically have control of the biggest share of Bitcoins available in the supply. It is like switching money control from government to a few hands who have enough mining power to obtain Bitcoins. In addition, It is not a free service. On the other hand, there are other cryptos that actually are decentralized projects who have a stoic mission with benevolent intentions in mind, for the people. Get educated, do your research about new cryptos, because shit is about to get down
Is that language dutch?
Yes it is
Why ask a journalist the questions? She's not that educated to answer the questions your asking her.
QE needs to stop and they need to introduce universal basic income in order to make mainstreet as big as wallstreat
Who pays for 'universal basic income'?
Only English subtitles?
Yes, for now. We published this documentary at the same time that it was broadcasted on the Dutch television. For this reason, we haven't had the time to translate it in French and Spanish yet. Our apologies for the inconvenience, the subtitles will come soon.
Well, you're already speaking in English!
so waiting for the crash 2.0 december 2019/january 2020, of course no one could have seen this coming... again
why those dates?
2023 still waiting. See if they pull out another great disaster to distract from the robbery.
VPRO, Nederlander hier.
Fix je shit. Dit moet gewoon kijkbaar zijn in Nederland. Fuck de copyright-mafia, gewoon uploaden. Als er geklaagd wordt, publiek nieuws van maken.
Kijken hoe snel het opeens wel mag.
En ja, is vast beschikbaar op jullie website.
Is niet makkelijk. Niet zoekbaar (werkt helft van de tijd niet als je exacte naam van show invoert), en ook daar is niet alles beschikbaar.
Op RUclips wel.
TRIPLE REPLY!
Voorbeeld: DW kan het wel. Deutsche Welle.
Just use a VPN
Yanis Varoufakis at 24.43. Watch him in "Goldman Sachs and the decline of Greece": ruclips.net/video/Q9xyIBjwGl8/видео.html
5:28 where she is working these days?
Nomi Prins is now an author. You can Google her and you will find her website.
vpro documentary Thanks, you guys have some real good documentaries, I specially liked the one which explains about HFT.
Thank you! It is also made by the same documentary maker Marije Meerman. Have you seen her interview? She explains some "behind the scenes" it is really interesting:
ruclips.net/video/hQyIgUm2i9E/видео.html
What the heck did you put English titles and have people speak on other language 👎🏻👎🏻👎🏻
choose one language
You just need to take a look of economy of Yugoslavia from 1970 up to 1991 , to find out what will be the future of the world if you try to create money from nothing ..... and the answer is powerty, hate, nationalism, racism and finally war.
All these people pretending they know shit,they don’t know shit and haven’t learn anything.cash is king.ex traders going public,jail them.
Funny I always thought bit coin was a bad joke
Welcome to VPRO Documentary. This episode of VPRO Backlight is a follow-up for the 10 years anniversary of the Lehman Brothers collapse.
Now looking back on 10 years of investigative journalism covering the 2010 crash on Wall Street, Marije Meerman asks the question: What have we learned? Where are we headed to? Please share your reactions in the comments, we would like to hear your opinion.
Great content!! I loved it!!
Yup😊
still without spanish subtitules...
Hi Javi Jackson, thanks for bringing it up, we are working on it!
@@vprodocumentary still not
@@javijackson Honestly, I don´t know when they are coming!
still without spanish subtitules 😓
Yes, it will still take a while. Maybe a few weeks.
No habla español
What do you speak then?
@@vprodocumentary i hope it does not take long
@@alfredhitchcock45 si que hablo español, es por si no me entienden
I say this with the benefit of some hindsight, but frankly the inclusion of Bitcoin into this documentary does much to discredit the message... It's like watching a stupid person ranting and raving about how their cable TV bill is too high in the city council meeting. Or watching a stupid politician like Ron Paul ranting and raving about "auditing the Fed" because he doesn't understand how central banking works. I wish more journalists would consult PhD economists (rather than mere former iBankers) before making a video that exposes a sensationalist ignorance of how the world works. It's really no wonder the US banks took the Europeans for a ride during the run up to the '08 crisis; a sucker is born every minute, and clearly you Europeans don't have the sophistication to understand very much about these things... That said, I feel pity for the average Greek citizen who got fleeced by the banks, but frankly that story is as much about the internal structural shortcomings of the EU as much as it is about the depredations of the derivative-peddling Anglo Saxon bankers in Armani suits who sold a pile of **** to the victims...
I love this old guy the chief economist of ABN Amro scorning Draghi for his stimulus plan... He forgot to mention that his bank was bailed out by the Dutch government, i.e. taxpayers in 2009...
nothing yet
But it gives nothing to anybody. Better to througha deflationary depression than to hide in digital currency
it is not in spanish
Hello Javi Jackson,
You are right, the subtitles in French and Spanish are still in production. We are exceptionally publishing this documentary at the same time as it id broadcasted on the Dutch television. That is the reason why we did not have the time to get the Spanish and French subtitles. We apologize for the inconvenience. What you could do would be to save this video to your playlist, and watch it later, once we have the subtitles.
@@vprodocumentary Thanks for the quick answer, even so you do a good job. Regards
Thank you so much. Hopefully you still can enjoy the documentary.
spanish is not yet xd
Thanks Javi Jackson, working on it!
👍👌👏
The end of human an all life is on the horizon. And what are the sheeple doing? Having more kids.
"The end is near!" People have been saying that for over 100 years.
Why is half of this documentary attempt is some disgusting language?
she doesn't want political ideology when she's paying for her coffee! LOL aren't fiat currencies under political ideology??
BTC❤️