PANIC! The Untold Story of the 2008 Financial Crisis
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- Опубликовано: 26 сен 2024
- Panic： The Untold Story of the 2008 Financial Crisis ｜ Full VICE Special Report ｜ HBO
#documentary #stockmarket #inflation #economics #stockmarketcrash #documentaries
Panic: The Untold Story of the 2008 Financial Crisis examines the major players and various factors leading to the 2008 US financial crisis and the ultimate prevention of devastating economic collapse.
The documentary takes a political and economic microscope to the atmosphere just before, during, and after the end of the 2008 market decline. With exclusive interviews from politicians, entrepreneurs, and leaders of the big banks such as Lehman Brothers, the story unfolds itself into gritty layers of a complex socioeconomic mashup.
US Presidents George Bush and Barack Obama give their account of the crisis that occurred during their delicate transition of power. Members of Congress Nancy Pelosi and Judd Gregg discuss their efforts to stabilize the economy and support an American people on the brink of destitution. Included are perspectives from the likes of investment guru Warren Buffet and the former head of Goldman Sachs Lloyd Blankfein.
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Copyright Policy : Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. _______________________________________________________________
Really where are investors putting their cash? Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports, but the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening.
from my study, prices of great assets like real estate, dividend paying stocks, and gold never come down, so I buy what I can afford today. ideally, seeking financial advice in a crucial economy is necessary for everyone
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There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ''Colleen Rose Mccaffery''
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Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
if you lack knowledge about market investing tactics, get advice from a financial counselor.
Agreed! this is why I work with one. My $520k portfolio is well-matched for every market season yielding 85% rise from early last year to date. I and my advsor are working on more figures for this year. IMO, financial advisors are the most sought-after professionals after doctors.
Please who guides you on the process of it all?
She's known as a 'Jessica Lee Horst'. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with and set up an appointment.
Thank you for sharing. I just scheduled a phone call with her. She seems proficient considering her résumé.
They're not confessing, They're bragging...
@JHartless 1488 They really are. So sad
Of course they are, they played the game, and had the rare chance to be the dealer, and even tho the government knew they were at a disadvantage, they played it.
A+ Big Short reference
Lol of course they are. They really believe they act in the public’s best interest and deserve to be compensated appropriately for their service. It’s the definition of absurdity.
@@sirrealistoftheparanoiacsh9182 definition of corruption actually
It's shocking disparity in how rich institutions see their behavior as "risky" while any normal person would see it as "stupidity".
That's what makes them rich institutions and us normal people. Our society and system rewards stupid risks. Playing it safe is what's stupid and risky.
Kinda like giving Ukraine hundreds of billions of dollars. All the money in the world is backed and by its citizens through treasury and bond.
@@subcitizen2012 they didn't die , alot of us did because of them
@@subcitizen2012 Define "playing it safe"
Ironically most of the people that were interviewed for this film were the ones that refused to speak in “Inside Job”.
its funny when you watch these two docs back to back, they tell the same story, just completely different perspectives.
I noticed that......
@@Fluganflogen Ooo inside job? What Doc is this ??? Can't seem to find it...
So true
So true
I remember this crap. I was laid off. Couldn't find work. Lost my apartment and my car. Had to live with my grandmother while my step mom just called me lazy and that I didn't want to work. No one was friggen hiring and every company was cutting costs and laying off or firing the moment they could.
I was in highschool at the time but would always help my pops with his business which I eventually took over. At the time he had over 300 condo units being renovated to be put on the market everything derailed and came to a complete stop in just one week end. I graduated highschool that year and we got into welding literally the only thing that kept us fed and alive it got quite lucrative in the end.
You eventually found another job and recovered…yes?
@@f430ferrari5 Yeah. Took a lot of time though, and I mean literal years. Job took a couple of years. Then the place closed down. Moved with a friend and got a job near by. Eventually, years later, finally found a deal on a place of my own and settled in. Took about 7 years in total.
so what happen when did u get back on your feet? or did u curious
@@CT-yc4gd ah diddums.
Hank Paulson sold $485 million dollars worth of Goldman stocks and paid no tax on it. It was a great deal form him to become Sec of Treasury.
He saved $50 million
The tax on the stock sale was deferred, it wasn't forgiven...
So eventually he will pay what he owes
So that's not how that works. He got a certificate which allowed him to sell the assets to avoid conflicts of interest and then he had to place the money in permitted property (treasuries). The tax is deferred to the sale of the permitted property, not forgiven entirely.
@@looneyburgmusic Has he paid up yet?
@@100perdido no idea...
It’s hard to watch these people celebrate and be honored in this video when we’re still dealing with the after effects. “Accountability Zero” would be a better title.
Were you surprised when Mr. Bernanke was awarded the Nobel Peace Prize for Economics?
Is had to watch this video, do to so lady background music 🎶 🎵
@@yengsabio5315 for a paper he had done years before
Everyone wants someone to blame. The companies that made the mistakes- went bankrupt.
Absolutely
Good movie interviewing those (of many) who privatized profits and socialized debts. 2008 left them with no damage and (what this movie is not clearly showing) they were exactly the people who created instruments that crumbled 2008 crisis.
120 percent right...
Blacksmith theo
Harlingen holland the
People bleed...they
Drink champagne....
On their yachts ...
Give Inside job a watch instead of this sensationalized shit
Facts
@@Sam_Hue watched that as well, doesn't make it any better though
It’s hard. And sad it feels like history is about to repeat itself again. This year or very soon.
You are very correct. The biggest financial collapse the world will ever know is on its way. And the same people behind 08 are behind this orchestrated collapse.
You're god damn right! (with Bryan Cranston voice)
Ain't no lie, I hear people talking about it's booming........... it's more like a castle built on quicksand. I think something is coming again, I can't shake the feeling. Nobody learned their lesson last time
Absolutely
Interesting how they don’t cover that many of these people years before lobbied for deregulating banks - which caused this.
Power of hindsight is all that is. St the time those were good ideas based on free market fundamentalism. We're still basically on they wagon and never got off. Which is why they're regarded as heroes for pretending to save us from what they caused. But hey, critiques of laissez faire isn't allowed.
Bill Clinton was paid off to repeal the glass steagal act so Wall Street could run unchecked
Vice and HBO carrying water for the people that caused this. That's like someone take a dump of all over your house, wiping up a little bit of it and then saying "ah, that seems good enough, bye"
Gold. Right to the point
For real. "Look what good guys we were!" Makes me pretty ill. And Dodd-Frank was a joke. We are going to reap the disasters of that act very soon.
Yep This "documentary" is a joke.
It's so sweat of Paulson that he helped out the economy by dumping public money into dumpster fire that he helped create as CEO of Goldman.
The regulators let them do it. They had legislation in place long ago that would've prevented it from happening, but they got rid of it (red tape as it's often called). They all let it happen.
@@MrBCorp Bill Clinton
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Working with a financial advisor who has worked in a solid financial firm for a long time, such as John Desmond Heppolette, will actually set you up for success in life. I'm delighted I was able to reach out to him earlier this year because while others were grumbling about the downturn in the markets due to the state of the economy, I was busy learning from him and eventually made over seven figures in the first quarter alone, which is why it's always good to join the correct community.
It is amazing to think about this moment in time’s impact on the culture in the USA. We like to think that we’ve “recovered.” Financially and economically, sure. Culturally…this is something that will impact our decisions for generations to come.
And, if course it's been going on forever, but the social, racial, etc discourse and aggression really started popping with economic crisis, Republicans (Palin) truly starting Tea Party and racial discourse and Obama coming into the Presidency. These 3 points and lack of manners beginning in Congress (You Lie comes to mind) lit the fire for tDump and 'the forgotten ones ' to not start a class war (super rich against 95% of us) but a social war. What a Shame! AND Wall Street is Back at it with little or no regulations.
Exactly this! Wallstreet is still manipulated by the 1% and what has the fed changed? we are on the cusp of the biggest destruction of the economy and yet no one is willing to look at the facts. Wallstreet is no longer a free market it's manipulated and ran with corruption. Welcome to 2023 the beginning of the greatest depression@@andred3299
Why is that amazing?
We've recovered??
Impact ? you mean Scarred ?
no wonder there all so happy. they're all retired millionaires who didn't have to suffer the consequences of the crisis
These folks weren’t heroes. They failed everyone. They let this go on until the brink.
True that's what happens when you don't have the good men running your system. There is so much bad people in power that they basically corrupt even the moral and good ones eventually.
These "Master's of the Universe" wickedly and WILFULLY constructed the 2008 financial crisis
They didn’t exactly willfully create the crisis….they willfully created the circumstances that birthed the crisis
Imagine thinking your handyman is calling you and it’s actually Warren Buffet
He said that for effect.
Greed is the underlying problem. None of this would have happened if a small group of people with no morals had behaved responsibly and most importantly thought about the average taxpayer.
Please remember that America was founded on business long before its government was established.
I think the whole Occupy Wall St/Tea Party fallout could have been avoided if some of the big players were sentenced to jail. As Rahm Emmanuel said, there had to be some Old Testament justice and if they weren’t going to loose their bonuses then there had to be an alternative.
It’s astounding how similar the Occupy Wall St and Tea Party movements are without even realizing it. Two sides of the same coin - Americans harmed by the GFC and not being clued in, TRULY clued in, as to why the decisions being made were being made.
Occupy was a lot broader than just 2008, it also didn't exactly amount to anything in the end. It's not like it actually elected officials or changed anything. It still exists in progressive sentiments but there's about it. Tea party was less about the recipients as it was about the bail outs in principle. Bunch of hot air. But then again, that is its legacy, still with us, just hot air and bluster as they happily continue to shovel money out to the usual suspects. That movement got subsumed very very quickly, while occupy in the other hand got dispersed.
I was living in New Zealand in 2008. I went over after my gf's contract expired. A Canuck in Kiwi Land. The jobs quickly dried up, my gf latched herself onto a rich friend and i was heartbroken and homeless inside of a week. I spent 6mos working on a variety of farms then was forced to come back to Canada after room & board was toouch to ask. There I was on welfare for a solid year until I could find a job flipping burgers. I was a university grad and It was brutal trying to find a min wage job. Took me until 2010 to get back into my field.
INSIDE JOB / THE BIG SHORT are excellent movies on this.
It is funny how the market guys somehow wanted the gvt to step in to support banks. But, Regs since the Great Depression protected investment banks from themselves to avoid unfettered greed. Quantitative Easing is another example of enabling more greed
Print more money, issue more debt, inflate your way out of financial mismanagement. Kick the can down the road. It doesn’t matter until it matters and the whole situation has no resolution. That collapse can be delayed, however the day will arrive.
The effects from 2008 are still here. America never recovered from it. And not a single CEO was ever charged with any wrong doing. Obama was paid off in hush money by Wall Street. He made millions of dollars
Banks advertised no money down, no proof of income ,no problem.
Then, they try to blame the buyers claiming their loan applications were false.
Poor people don't make the decisions.
Places like Canada took advantage of the US situation to make sure, finally, nobody can afford a house and nobody can get a loan for a house.
I think the series by Frontline "money, power, Wall Street " is the the best perspective on this crisis.
I agree. That was extremely well done and thorough. This just seems like propaganda
What an amazing crime story.
I look forward to watching the follow up entitled `Panic: The Untold Story of the 2023 Financial Crisis.`
How wrong you were, maybe get off Faux news.
*2024-2025 it’s coming.
The only thing I can remember about 2008 is driving around my town, being in high school, and blasting The Recession by Young Jeezy.
Man, those were the good days for me as a kid. My Dad’s company was hit hard but my mom was able to get us through. My dad fully recovered about 4/5 or so years ago, and now HE IS BALLING!!!! 💪🏾🔥❤️ Shoutout to both of my parents for never quitting.
I remember having to walk through a gauntlet of hippies every day to get to my office. I'm in Australia. They were occupy wall street people. It was pretty entertaining. I would go and chat to them and eat their food in my lunch hour lol
I have like 5-6 corporate/financial catastrophe documentaries i like to watch 1-2 times a year. This is one of them, alongside inside job. I love watching both back to back.
What strikes me about this one is just how many times the big players in this (paulson, bernanke, bush, geitner, the bankers) all contradict themselves, sometimes within 2-3 sentences lol.
"I have always been a free market guy, the government should never intervene. But when the market needs almost 2 trillion dollars in bailouts, we need to give the government unspecified and wide ranging powers to save the markets"
The whole metaphor of the squirt gun and bazooka is also such a massive contradiction. "We need these powers but will never use them. But if we dont get these powers, the economy will fail. But dont worry, we wont use the bazooka, we'll just need it to scare people who are scared." And these people used the bazooka as soon as they got it to federalize fannie mae and freddie mac. Like come on...
Fannie and freddie are also part of the contradictions bc of the "implicit guarantee" or whatever they called it. "It diesnt exist in paper, it was just assumed. But no where was it stated that the government would guarantee the loans. So thats why we needed wide ranging government powers to federalize them". I felt like when paulson was explaining the implicit guarantee or whatever he was acting as if this would never ever happen.
They make statements similar to this one time and time and time and time again.
And i think thats what bothers me the most about this specific documentary. The people who created this mess 30 years ago are trynna come off as the heroes because they "fixed" the mess and prevented societal collapse. Its like mass shooters who kill themselves after killing 10 people in a mall and saying "hey at least i killed myself too so i know i was doing something wrong".
Please
The Morgan Stanley dude using his southern aristocrat accent he picked up at cotillion class to act like he had no idea how this happened lmfao "all of a sudden we were looking at all this data" uhhhhhhhhh isnt that the entire basis for investment banking? How the hell did you get to be CEO of one of the largest banks ever and have such a derisive tone towards "data". Makes you wonder what wouldve happened and how bad this wouldve been if Fuld, Paulson, Dimon and all these other clowns actually knew what they were doing. What would the bailouts have been like then? 5 trillion? 10 trillion? I mean jesus christ the fact no one was hung in the middle of times square for this is such a shame
I’d love to know what other ones you watch if you have time to share.
Please share
Good comments. Frankly this particular documentary feels more like an ass covering exercise for Paulson, Bernanke, Geithner and the establishment. "We didn't know", "when the music's playing you gotta dance" and all the other noxious bs is just an excuse for staggering levels corruption on Wall Street and complicity at the highest levels of our government. They knew damn well what was going on and let it happen because they knew the American taxpayer would bail them out.
you have to be a blogger dude
What are the other ones you watch?
I’ve seen this before, and even have family that personally dealt with some of these ‘characters’… many of them were viewing this whole thing as a board game. Many of them didn’t take a hit worth mentioning.
Seriously, ‘rushes on money-making schemes equal ‘bubble’’ and bubbles pop.
Best advice I was ever told, if you see ‘make money quick’ schemes on late night TV… don’t do it, party’s over, and the sharks are circling to eat what chum is left
You see it on RUclips all the time now. I lived through 2008 as a 20 year old. Watching regional banks collapse and the Fed rushing in to help seems all too familiar.
Yup,They competing against each other.The working class are nothing but consumers.
One thing is clear. These people think they’re smarter than us and know what’s best for us.
They definitely are in it for themselves and have no concern whatsoever for our interests.
Hello everybody from China. We are fxxx up as well here. Take care, bye!
😆
Your more fucked up as at least in the west we have a illusion of freedom.
Sincerely, I'm not sure if investing at this time is a good option. Pay attention to how often things fall apart. Despite reading charts and predictions from renowned investors from the past and present, I'm still seeking for a better way to invest my money because I still have some time before retiring. I want to create a strong and trustworthy portfolio in order to produce passive income.
Without a doubt, the Fed is to blame for the exceptional catch-up measures currently in place since they were initially too slow to control inflation. The outbreak, supply-chain issues, and the state of Ukraine are all contributing reasons to the impending inflation perfect storm. Not to mention the steep rise in housing costs, another aspect that makes it difficult for the Fed to keep inflation under control. In conclusion, if you have the money, remove it quickly away to take advantage of the high savings rate.
This is the problem! People who have little to no stock market knowledge frequently try to acquire on their own. I had the idea before acting responsibly and contacting financial advisor Sharon Lee Casey in the US, but now everything is different. I started getting amazing returns on my investment.
@James Cooper Do a check on Sharon; she received a lot of coverage in 2020. Okay, I'm not sure if I have clearance to mention anything. She oversees my portfolio and works as a mentor for me.
S C A M
SCAM SCAM SCAM SCAM!!!!!!!!!
Most people venture into crypto to be a millionaire meanwhile I just want to be debt free
That's very practical and smart goal a wise man once said do everything in your power to get out of debt one of his tips on getting rich
Starting early is the best way to getting ahead of build wealth, investing remains the priority
I advice everyone to start investing and never rely on just salary. No billionaire made it through salary
Having a job doesn't mean security rather having different investments is the real deal
I'm looking for something to venture into on a short term basis, I have about few hundreds sitting in my savings
Moral of the story is not "banks bad" but rather, don't buy houses you can't afford
Don't sell 'em either.
And once they bought it, don't sell them as AAA assets... Houndreads of times and get bonuses for it. Especulation is a cancer
@@gevdarg Just because someone is selling something doesn't mean you have to sign on the dotted line. Do your own research.
@@gdobie1west988 Agreed. And when you sell something that blows up in your face and ruins your business, you should go out of business. Suffer your own consequences.
@@gevdarg Agree, unfortunately if the banks were to fail as they showed in this video, the whole world would have been affected. If the banks paid everything back with interest, that's about as good as you can expect considering the circumstances.
A lesson for the average person to not invest in something you do not understand. NFT's, bitcoin are just other manifestations of this idiocy and greed.
Dont be average
I've been in technology my entire career and agree with this. People are far too enamored with tech such that it robs them of basic common sense. NFTs are a bust and a joke at this point. Bitcoin is basically a ponzi scheme. Perhaps when they wake up and find their life savings has disappeared into the ether and they've been replaced on their jobs by AI or robots they will finally understand where we are now.
The average person or even most intellectual people don't actually know what money is and were it comes from.
Absolutely wrong. Bitcoin is a true hedge against inflation and completely bulletproof vs the dollar. Next time understand what you're even talking about
This "documentary" is an unbelievable piece of propaganda. Good Lord.
It is
Another re-upload?
I'm curious to know if the day will ever come when an administration will leave the country in better shape than when they took office. Not one has lowered our national debt. Not one.
They increase it like that's the way it's supposed to be.
It seems that every administration spends more money than the last administration before them. The national deficit is going to bankrupt America. And the pension fund debt
There really is no way to decrease the debt anymore. There is no hope in that and I’m not sure we have the ability to grow our way out of it. Obama added more to the debt than all 43 presidents before him combined. Trump and Biden admins are continuing the trend
@@Grande79 Obama case was clear Kenyian economics. You dont raise taxes or lower spending when economy is in a meltdown.
Bush "war" spending or Trump tax cuts are 2 totally different things to Obama. Only presidents who have reduced deficits have been democrats.
@@woldemyr5234 The House reduces deficits, not the President. Both cases you cite were Republicans controlled House. Try again
But not a word about the deregulation caused by Gramm-Leach-Bliley Act, and significantly, though the repeal of that legislation could have been an integral part of the deals, it was never even considered.
You're telling me that an UNCONDITIONAL $700 BILLION BAILOUT WAS PUSHED BECAUSE A DUDE HAD A BIT OF ANXIETY?!?! Like are you freaking kidding me, this is the DAILY LIFE of the people that the money they were given came from! What in the mother fuck is that. Wow.
The amount of fraud and criminal activity that took place during this engineered financial crisis is astounding and they got away with it. And left thousands tens of thousands of people homeless. Unbelievable
And here they are on video with all their friends saying they saved the country. The next generation will never be educated on what really happened. They will be fed propaganda until it happens a couple times to them. American public is no more than sheep
America never recovered from 2008. Wall Street won and not a single CEO was ever charged with any wrong doing. I can guarantee that Barrack Obama was paid off by Wall Street. He made millions
It’s really sad to watch and even crazier to think something much worse could happen… imagine the government didn’t have the money to save our economy? Even though we got robbed the world kept running. If this happens again I fear we won’t be able to “fix” this and majority of people have no idea what could happen.
Typically American to blame someone else for their mess, or not helping them get out of their mess
Great film.
The best line in the move, "This is a slippery slope to socialism" and here we are in July 2023 with a FED NOW digital currency on the way.. When you look back in time nothing changed, they just kicked the can further down the road, and provided tons of liquidity to the opps.
What they didn't realize and what you aren't realizing is it's describing capitalism. Capitalism requires capital, which requires loans and debt, and the fastest possible transactions so that sanctioned business can be conducted. Welcome to America brother. It's way worse than you will ever realize.
That mad man had no idea what he was talking about.
I want one of these for the Pandemic
people who should b behind bars....
r in front of cameras.
American Incompetence has continued at all time highs since this crisis
Unwatchable. Who mixes these films??? The underlying music is way too loud and distracting. Why does there have to be music when people are talking and you want to listen? Are such documentaries nowadays made for 15 year old kids that need music everywhere to stay interested? Maybe focus on information instead of cutting a music video.
Wow, just , wow. I expect that those deeply involved in creating the crisis should find humility, deference, and vow to create a better tomorrow. I was given a great gift at this time to work for a growing company, thriving, an incredible shining city on the hill during this crisis which my family did not have to experience the depths of this problem.
I'm keeping with me Paulson's quote: they were too big to fail... and he did nothing about it, and nobody has done it ever since... to me it was the beginning of the deterioration of the capitalism as we knew before 2008.
Great video! I liked the phrase 'the UK was not going to import the US cancer'😂. But looks like the Brits eventually did, not vis-a-vis Lehman Bros, but the rest of the banking crisis!
The documentary titled "Inside Job" is much better and more truthful than this one.
@1:13:50 "my mom has a handyman named Warren, why is he calling 📞 me?" 😂
I never saw HBO as the wall street propaganda arm. Until today.
Andrew Ross Sorkin is exactly the type of people in power who benefited from his Wall Street connections and promoted the exact finance guys who caused the 2008 crisis. And yet, he is treated like an impartial observer. 😅
I understand how the average Joe would suffer if the banking crisis would have become a depression, so I can see that the bailouts were in the best interest of the tax payer. But what I don't understand is how the system has this ludicrous design flaw, that a banking crisis could trigger a depression in the first place. The Glass-Steagall Act should never have been repealed.
In the telling of the greedy tale that almost destroyed all of us globally 😢”not only were they bailed out, they were ungrateful”😂😂 just summed it all up.
The first scene reminds me of the famous line, "It's a big club and you ain't in it."
Hard to believe people still believe the bailout helped the rich. In fact if this wasn't done the entire economy would have collapsed across the world. I wonder what you would be thinking if you went to the bank and couldn't withdraw money.
Hard to believe people still believe the system that's set up this way doesn't NEED to actually crash and burn for a complete overhaul.
It's the economic setup of this debt based money system.Its backwards as hell.If they didn't bailout we will be eating out the garage.
hard to believe people keep twisting the truth and defending the financial abusers. the, hey it could have been worse argument. it never should have happened in the first place.
Even if the market and economy crashed the value of the dollar would still be the same as it is today. Worthless
@@pherhymeswithamc6399 What a great solution. Do you have a time machine then to put that into action? When shit hits the fan you need to actually sort it out and not throw your hands in the air and say "it shouldn't have happened in the first place", well quess what? It did, so they had to sort it out.
There it is. The long-term problem was there admittedly in the program. That lopsided attitude that has been dominating since the 1980s. Bernanke initially believed the free market would solve everything. Paulson believed in a gov't hands-off economy. And Bush believed it as well. He even proposed privatizing Social Security. Knowing these guys, assumingly giving it to Wall Street without much oversight. In light of what happened in 2007-8, imagine what would have happened to the world's largest pension fund under those conditions.
That is what all got us into trouble. And that lopsided BS continues.
Social Security (SSI) is NOT a pension... It is INSURANCE... THAT'S WHAT THE "I" stands for. It's purpose is to a bare minimum to buy ramen noodles and a tent should a person be irresponsible enough to have not planned for a secure retirement on their own.
Hank told the public that Fannie Mae would be allowed to fail but behind closed doors he told the hedge fund boys that a bailout was coming. Small investors dumped their Fannie Mae Bonds at a loss and the hedgies bought them up at a discount.
"If you got bajucka and people know it you have, then you don't have to take it out" - It made my day.
That’s what she said 😆
you don't have a bajucka and the one there is is pointed at our aggregate a$$ that includes yours too. So what made your day exactly?
Bajucka?
Just out of interest, what happened to all the people who got forclosed and lost their savings, or doesn't anyone care about them?
While US and international banks received 7.7 TRILLION $$$$, no regulations have been made, and again, we will soon be in a GFC situation. Craaazy
I think regular people understand the problem of being interconnected with corrupt financial companies that if they fail it affects everyone else. Kinda like being held for ransom. It’s unacceptable and being too big isn’t an excuse for the unethical practices of Wall Street.
I wish the government would come to this comments section. So many experts here who can tell them how they would have done it better
Ahh yes, all hail those in government. They never do wrong, and should never be questioned by the stupid unwashed masses
TARP was the master-stroke that saved the US economy and global markets. And the US made money on the deal through the repayment.
These guys are all talking like they are Reacting to a pot of water that boiled over in their kitchen... when in fact they are the ones that turned up the heat in a frenzy of Greed...
The music covers what people are saying, as if done on purpose.
It’s the middle man, those fees are killing the economy. Everybody wants to sell, and everybody wants to buy.
Banks should be government run and nationalized businesses, ya wanna gamble and pull shit like this, do it with your own money, not public finances >
58:33 ...and I've thought I have problems ... This meeting OMG 😅😅😅
Almost 20yrs later, because they put a billion dollar bandaid on it, here we are, yet again. Different characters, same play 😂😂😮💨
Except how nobody can ever own a house.
And the pillars of power shall crumble under their own greed and indifference.
It reminds me of things that some developing countries doing business look like
@-TradingCoachUK
Hello my friend
That was a chance for the U.S. to take over all banks. We lost that chance. We bailed out the rich and left the poor in the dirt.
Same in Britain. They bailed out the RBS royal bank of Scotland, then handed all the shares right back to them after the storm abated. The UK government had the chance to keep the banks under the peoples control, but the politicians passed on that golden opportunity.
@@den264 it's hard to find a president with a backbone. The last good president was Franklin D Roosevelt. The rest who followed after have all been spineless.
1:30 “not a black man in sight. Ima change all of that” ~ ZAPRESHCHENO
Would have been interesting to ask all the speakers in this video, some questions
@42:25 ... just as well. in a few months the UK will be bailing out RBS ... so Lehman would have been too much for the UK
Insightful video. I just want to know best how people split their pay, how much of it goes into savings, spendings or investments. I'm 27, and earn nothing less $150k per year, but nothing to show for it yet.
When people have money, they spend it. And some people spend more money when they have more of it. If you want to improve your financial management, you should consult with a financial advisor.
@@devereauxjnr That's right, you can avoid the traps of lifestyle inflation by consulting an expert advisor to help you plan for your short- and long-term goals; it all comes down to proper guidance. Over the past two years and six months, I have seen my income build wealth and now have a fully paid off house and at least $650,000 in stocks. All this is the result of subsequent investments with my savings and the application of expert advice.
@@user-3456rtu Nice, who is the Financial Advisor aiding you if this is not much i'm asking? my retirement plans are going down the drain with my 401k particularly losing everything it gained ever since 2021.
@@Scylla-456t credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up
@@user-3456rtu I looked up NICOLE online using her fullname and researched her accreditation. She seem very proficient, I wrote her detailing my Financial market current position, goals and scheduled an appointment. Thanks
What a JOKE!!! They caused it all from their greed and they got bailed out to continue to do it!!!
Honestly at this rate I wondered what it would have been like if they did absolutely nothing and see if the people be kicking themselves rn for thinking in such a close-minded manner
And at the end of the day, nothing has really changed.
The title claims thus to be an untold story. That, of course, is utter nonsense and misleading. People who falsly advertise videos should be banned.
i worked for Triplex in Ireland . A sub of Pilkington UK. It did not take long to realise that managment were responsible for the decline
Looks like the producer of this video doesnt quite understand. Its not that people didnt understand the response, its that they were angry(rightfully) that the system is set up like that. That was the problem.....and it still is! We are putted against eachother and slaves to the stock market because the only hope for retirement is that they or at least the companies in one's portfolio. The stock market isn't the economy. Often when the stock market is doing well the REAL economy is terrible. Whats the point of keeping them in business for the sake of an IRA or 401K when people can't afford to live now?! I did everything "right" if not more. I contributed a matched 5% of each check for almost 2 decades into a "low risk" IRA. It was wiped out in 2008. In fact it went to negative because I was still being charged "management" fees! I spent the next 12± years doing it again and adding any kind of "extra" money to help make up for it.....and the pandemic wiped that all out. I wpuld have been better off buying Nintendo games! They went up hundreds of percent in that same time. Wealth addicts are ripping the copper out of our society and we call them the "people of the year"....and make films trying to rehabilitate the same types of people that did that their whole lives. The same kinds of people who apparently not only didnt think that home prices would go down, but bet everything that they would keep going up as they had been. The people that caused it, went on to do it again(with bonuses) while those who had nothing to do with it still suffer today. The system is literally obscene!! My only hope is that I die before I reach retirement age and that my life insurance will pay my kids school loans or maybe get them a car. We didn't defuse the "bomb" we just added more fuse. Yes it "recovered" , but recovering means getting back to how something was. How it was, and still is, is the "bomb". We need to change things before it goes bad, not while it is.Rant. rant.
Same here. It's brutal
Heavy Lies The Crown...👑
They trotted out all the thieves for this
I don’t want to be nice but the moderators say I have to be. I’ll leave it with, “Greedy SOB’s”
They saved their rich friends at the cost of real people. That strengthened the rich vs poor to the dumpster fire we live in now
You don't understand it do you.... You think the poor have it bad now? If those banks failed, millions of people would have died. Farms would be shut down, hospitals closed, over 50% unemployed, etc. Without those banks, your life would be in the stone age- and you're not able to live that way
@SmithCommaBenjamin Wow. You certainly have drank the kool-aid they have poured for the masses.
So, you think the rich guys giving our tax money to their rich friends to get even more rich was the ONLY thing they could have done? Fool
Maybe put that money in the hands of the people to spend?
You come off like those gullible idiots that spend money on get rich quick schemes thinking youll make it one day
@@cobeer1768 What would the masses have sent it on? More junk that fills the rich people's pockets.
If banks collapse, your society goes with it. Giving money to people to blow on junk wasn't going to solve the problem.
Yes, they saved their rich associates, had they not done that - as the movie states - ATM's were on the verge of not having a 20 dollar bill in them. Think on that for a moment. These guys did the best they could at the time. Could they have done better? You GDamn right they could have but in the final analysis.. You were still able too buy bread weren't you?
@Shawn Renaud People like you let the rich put us in debt to help the rich. They said what sounded good enough to get the money flowing to untaxed bank accounts.
Sure, I got a slice of bread. They got the bakery, delivery trucks and the grocery store for free with US tax dollars while not paying a penny of taxes themselves
All these people are criminals! How many went to jail for their crimes? The bad thing is that they are not done. We’re in a worse spot and this will be insanely worse. They will try to get away with this again but what is coming next no one will be able to escape
Short the market and become rich if its so obvious, genius.
Nobody went to jail because Obama was paid off by Wall Street. He made millions
Back in 1776 Adam Smith advised that the motivations of capital amount only to extortion. The etymology of the word capital refers to barbarian tribute when cattle were wealth. The word for war has the same foundation. This crisis was the jolt of the dark financial world becoming a major player in the entire global finance structure.
I would say few good men live to somewhat acknowledge all there greed and darkness inside their heart.
It's like watching drunk driver patting them self on the back for saving life of their passenger in their car ... right after driving through a bus stop full of children killing them all.
Essentially those 3 guys and the banks CEOs are heroes thats the sense i ve got. They meaning the CEOs didnt want to take the 25b dollars but were like ok if its in public interest we will do it😅
dont forget the part where they were bailed out with our tax dollars. diamon said he would only take the deal if the government pitched in. well, that us. we fund the government
We twisted their arms to accept it.
when banking system abuse the government... they will have control ... and will still ask the government for a bail.out
government policy must be strict ... because money is reciprocal to life
So every participant in their own words was just an innocent onlooker? No agengy at all.
Their!
@@oliviatomlinson5743 Fixed. Your welcome:)
The fact is real story is still untold ! Who really were actually responsible. What was actual magnitude of the crisis. Who gained without losing anything. Who lost everything without getting anything. How was each penny of 700 billion- gosh what a random figure, because people would not mind if it's 500 or 700-was spent. Whether the crisis was buried deep down or averted or actually solved. Can anyone enlighten?
Watch 2008 an inside job on this channel. It’s sickening.