The financial brain of the London City - Docu - 2013
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- Опубликовано: 19 авг 2017
- Joris Luyendijk is a journalist and a publicist with a banker’s blog on The Guardian. For this episode of VPRO backlight, he dives into the financial brain of the London City, and descends into the minds of the master bankers. A study of adrenaline, testosterone, addiction, and the magic of big money.
Original title: Inside the banker's brain
Five years after the breakout of the financial crisis, we still do not have a good picture of the damage. The credit crunch was followed by economic recessions, the EURO crisis, and vexatious political indecision. Meanwhile, analyses, reports, books, and films have been made on how the financial system has pushed us over the edge of the abyss, and we have become familiar with terms like junk mortgage, derivatives, and bonus culture.
But oddly enough, we know very little about the players in the system: the bankers, the traders, the inventors of poisonous financial products, the Masters of the Universe. They were vital to the image of the financial boom when it was rampant, but largely stayed out of sight when the blows fell.
What do we even know about this new, self-proclaimed elite, the French sociologist Michel Wieviorka asked himself in an earlier Backlight episode on the Metamorphosis of a Crisis. What are their goals, their dreams, their fears, what is their taste, and how do they work?
Originally broadcasted by VPRO in 2013.
© VPRO Backlight January 2013
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Credits:
Director: Jos de Putter
Research: Gerko Wessel
Producer: Helen Goossens
Editors: Henneke Hagen and Frank Wiering
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.
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Hello everyone, We hope you are enjoying tonight’s documentary and that you make good use of the subtitles (click on the captions button for the subtitles to show).
We are curious what your thoughts are about these masters of the financial world: tell us everything!
Next Sunday, we will publish a documentary called: The objectivity of the Arab media. What is the role of Al Jazeera and Al Arabiya news broadcasters in recent revolutions in the Arab world? And how independent is their coverage actually, given their funders?
Hope to see you Sunday for more VPRO Backlight
why notification not working on this channel?
Hello Vipro,I love this documentary as per usual.The one carded for next week is eagerly awaited.But I am quite sure that it will not surprise me at all that the Media there is going to be found wanting by a mile.To me,media is like a sort of food-it can either be cooked to be healthy or the very opposite.The bench mark for terrible media was the radio station in 1994 Rwanda that feed the populace the terrible food that soured their minds and turned humans into monsters.But let's see what is in store for the next documentary.
Maybe you do have to activate it in your own personal RUclips settings?
@Winston maraj, we will see this Sunday! We are curious to read your opinion after you will have seen the documentary.
I think you have to press the little bell icon next to the subscribe button. I remember a lot of youtubers being annoyed by the introduction of this, because RUclips was able to keep certain notifications away from you.
So glad I found this channel, I've watched 3 of your docs so far and they are FANTASTIC! Please keep 'em coming.
Thank you for watching and for your comment! Somehow it got lost in the flow and I see it just now. :)
Another excellent documentary by VPRO. Love these financial documentaries.
Thank you!
Another one is coming next Sunday: a Backlight investigation about the role of Goldman Sachs in Greece's near bankruptcy.
:)
We hope to see you in the comments section Sunday! :)
Gorgeous documentary.
My favourite theme of content from VPRO loved it. like always your works are the best in this category as far as I know in comparison to others.
In the earlier series we got to understand and got a rare peek into the technology which comprises and influence our financial system and got to know it's architects (quants the alchemist of wall street, money and speed) and now we get a rare glimpse into the minds of actual decision makers in the financial markets. This just complets the whole series and concludes it along with the earlier one which discussed the aftermath of the crisis caused. It's time humanity restructure or reorganize finance to bring stability and reduce inequality in today's economies which are suffering from having huge wealth disparity amongst people and creating divisions in our society.
Hello again Mriganka,
It is really nice to see that you know our content so well.
Indeed we get to see finance from various point of views in our documentaries.
Here is the finance playlist, for all the other viewers that are not familiar with what we do:
ruclips.net/p/PLuECoz9_QThSQUiuXN3gxK7sWvvqkDJmJ
do you ever do co-productions? I'd love to work with you!
Wow, what a great insight into this strange world. What surprises me even more is how in the end apparently everyone is so affected by this, except for one - Terri Duhon, who seems to be the most oblivious person in the world. Truly incredible and sad. It's insane how we allow people who function in this nontransparent, closed off world to make such important decisions about the financial world. The end people to be blame is of course the lawmakers, since people will always go to the extent where the law allows it and if there is no supervision they will of course abuse that fact. Having watched all of the banking documentaries that you guys produced, this is a great addition! It also shows the difference between these strict mathematicians who create the financial instruments and everyone else who uses them and how oblivious to their effects the end clients are. Excellent work again, vpro!
Watching the Terri Duhon clip in the end again, it seems as if she's scared of saying some stuff, with a strange, sort of fake smile on her face. Trying to say what she regrets or her views on it 3 times and never seems to finish the sentence...
Its the high one gets when doing things that are known to be wrong.I feel it a lot;a kinda Hyde(from Dr Jekyl and Hyde) feeling I guess.One can actually get addicted to this like drugs I guess.
such a gooddocuemntary keep it up
my like and comment just to support this brilliant video
Thank you!
Por qué no conocia este canal antes. Son ejemplos de investigación. No las basuras que se ven en mi pais. Saludos desde Ecuador.
4 years later nothing has changed.
10 years after the GFC...and "emergency" Quantitative easing is still driving market
Thank you.
Talking like a Dutch Uncle is becoming "salon fahig?". Yes, very nicely done. What about the spiritual aspects behind the madness? The personal stories of why any person can turn into a "number crunching madman, destroying years of hard work in the real world by simply pushing a few buttons", and how we can help those "successful bankers" back into a sustainable and responsible human society and loving and caring human interaction.
Such a good doco, There is a bunch of interesting ideas here, The derivatives crisis being predated by asburgers (like the women who worked at j.p morgan and has no regrets) who could only see variables and not that the people who were sold these products wouldn't pay there mortgages because it's "irrational".
That traders have a hard time psychologically changing when the move from a bull to a bear market happens and that these bankers aren't really living great lives, that there identity has some foundation in the envy we feel(and probably the superficial relationships that grow because of that money).
I have to watch it again sometime to fully take it in but these are the people who water the garden of the economy, and they're a mess! but then again who isn't.
Is it just me, or does the author of "Cityboy" himself seem a bit crazy?
He seems to love his own writing, that's for sure.
It's just you.
He went crazy, like butterfly who flew to close to sun& burnt his wings when you sell your soul only fiat remains, sad existence
We need a sane,kind world , not fiat,greedy traders or markets. Modern an sucks, needs to disappear.
Excellent. The biological and neurological explanations of irrational risk-taking make sense. The addictive qualities of greed, like any other sin, lead to a lot of pain for the individual and those they harm . So much of this socially destructive behavior is because the players risk other people's money...lots of private profits if they win, big social losses on others if they lose. Their minor consequence is to lose their job. Very thorough and well-done. My suggestion to editors: lose the buzzing sound when interviewees' names come up with the orange rectangle. It's annoying. Otherwise, very well done.
The financial brain of the city of London you say and than who is the financial brain of Washington DC and the financial brain of the Vatican and than who is the financial brain of the international BANK of SETTLEMENTS
A very long time ago I resorted to changing the word bankers to wankers. Thanks for a thought provoking documentary
Thanks for the tip! :) And thank you for watching.
Please expand who is stealing from pension funds and how are they doing it? That part was interesting. The part of the documentary where a math nerd and a trading programmer are basking in their greatness made the doc boring and didn't show us anything new.
Get into what caused the flash crash. Was it a deliberate attack?
Een kat in het nauw maakt rare sprongen... The last tremors of the finally collapsing Holy Roman empire? Or are we missing the bigger picture?
It is monopoly money- printed by them, for them& we are in the way
What seems obvious to me, is how so many of these banking types seem so utterly fake on camera.
Like their whole character is fake; a deceptive façade. Also some bankers(and it is an occurring theme from a multitude of banking documentaries) seem utterly devoid of love.
Do many bankers "chase" financial success as a substitute for emotional empathy ?
Like your documentaries, but how will you garner a global audience if you don't put English subtitles?
Hi ankit moorjani, thanks for your comment! In the right corner of the video in the settings, you can turn on the subtitles, hope it is working!
@@vprodocumentary I felt the need to compliment you on your ability in responding to the huge amount of comments on subtitles without losing your patience.....Also love this channel xx
after brexit, whats the future of london as financial hub?
iIve been wondering that too... I figured The City won't let Brexit happen unless it's on their terms. We shall see.
One problem with all this talk of one sided disaster , you forget to mention WHO MADE ALL THE MONEY , OR TOOK THE MONEY OTHER PEOPLE LOST. It's simply transferred into different pockets. That's the idea. Get it ?
No. I don't. I mean if money represents wealth, a real thing, yeah. Maybe I get it. But when money represents debt, a promise of a future performance, wtf do you mean? I don't get it... just keep pushing the promise further and further into the future, derivatives on top of promises, and nothing is ever performed. No. I don't get it.
Some of these people need a kick right in the bollocks Really hard kick their balls right back up inside and then kick their fucking heads in.
English subtitles would be great
You can put them on in CC (Closed Captions)
16:45
What did the philosopher say to the banker?
Read more
love this one... so funny...
LOL, nicely done.
Anyone want to form a new private bank?
Patrician Cloud I do
5:30 into the documentary. This guy doesn't understan shit... only emotions based on the lack of understanding of finacial systems of the modern economies.
Pity the subtitles didn't work. I Gave up after 12 mins.
Amara, what do you mean the subtitles do not work?
Did you use the captions?
@@vprodocumentary Mine works. When the person speaks English, there is no sub. Some people are used to 'closed captioning' where everything spoken is sub'd.
👏👌👍
Everythink is brilliant, despite that excerpts in german or whatever language i don't know
vpro is from the Netherlands. Toggle the captions and you'll get subtitles. Note that all our documentaries are published with English, French and Spanish subtitles in the closed captions. :)
Who else a bunch of pissed up city boys?
One of my mates who worked in the city, never took drugs, but inhaled girls farts directly from there bum hole...............He got addicted and killed himself. NO JOKE.
Sounds like the newest straight to DVD movie.
Nothing has changed
The captain should be tied to the mast.
some of this is in languages other than English
Yes, we keep our documentaries non dubbed on purpose. And all our documentaries have English, French and Spanish subtitles, in the closed captions.
I see!, thank you very much, I will watch it again as i was very good even though i could only understand part of it.
lol
well crap, im aspergers
Really....not everyone speaks German☺
It’s Dutch :)
It's all a matter of perception. Being a psychopath isn't a crime.
That's dumb. By saying that you're killing any hope of having an honest dialog, because you're removing any notion of morality. Since we're rational animals, those people are also making moral statements every day, and I'm sure they use them to convince other people. If you're a psychopath or pseudo-psychopath, you don't build your moral system in a rational way, because your greed forces you to make special rules to protect specifically your interest in power. Those psychopaths really believe in the fairytales they tell to the world, which illustrates how their greed is leading them to have irrational beliefs and to behave based on superficial perceptions. That's pathological.
Take the expample of Norman Finkelstein. Finkelstein is a moral individual, and his commitment to the principles in which he believes lead him to do things like reading the books of his opponents more times than them and to elaborate responses in a very detailed, obsessive and rational fashion. No psychopath is going to go that far, because the principles in which they believe are just irrational. I think this is a good example, because Finkelstein had an ideological affair with Alan Dershowitz, which probably is born psychopath. It seems to me that, in a deeper sense, those psychopaths are behaving as if they were the most sentimental ones in society. Which is ironic because they like to be proud of their lack of emotions.
THE RICH GET RICHER AND THE REST OF US GET FUCKED
After watching this, I realize why my clever-dick ex-husband was a nightmare to live with !
Omggg...translation for the dutch guy
Despite the lack of TRANSLATION!!
Still a great documentary
Hi! All our documentaries are subtitled in English, French and Spanish. All you have to do is turn on the closed captions.
That woman has some serious problem accepting her responsibility for selling banking trash; should visit a shrink before she gets more loony, I'll say....
Alejandra Silva she is a really bitch, that need to be hang. instead, they got rewarded for all the suffering they caused. nothing changed in tha last 10 years, only got worse.
Who decided to put subtitles in white on a white background? Another drone that doesn't want the public educated?
The subtitles are white on a black background.
Sold out souls stepping on others for personal wealth in a psychopathic nwo
I switched off when it said "the financial heart of ghe world economy, based in London" yeah right Britts keep dreaming