MELTDOWN - The Men Who Crashed The World - 2018
The first of a four-part investigation into a world of greed and recklessness that led to financial collapse.
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.
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Demasiado grande para fallar y demasiado pequeño para admitir el fracaso. Los poderes oscuros no tienen que robar tu dinero. Simplemente tienen que evitar que use su propio dinero. Luego cabalgan en la ola de bancarrota.
All of you ignorant blind shitheads who are mentioning da it was on da borrowers fault as well "F-CK YOU" look and c who's names of this freaking banks are j. p morgan,goldmansacks,Lehman bro,and da worst one of them all treasury department,and many more. Now all of you imbeciles go and find out da history and agenda of this freaking banks and maybe if you have any common sense u might understand who's plan this was and what intentionally was created for, You dumbf-cks.
I can see by most of these comments that people still do not have a clue
about how millions of homeowners, investors, and taxpayers were SWINDLED
out of TRILLIONS, not billions of dollars in the biggest scam of the century.
The "beauty," if one were use that adjective, of the swindle is that most of the
victims, plus the lawyers and the especially the COURTS, do not even know that
it happened. It is as if someone stole your pants while you were in one of the
busiest and most crowded malls in the country, and you went about your
business like nothing has happenedl.
The government knew what was going on, but they protected their masters
like good little lap dogs. Despite all the illegalities and billions of dollars in
fines levied against the major banks, they are still doing the same thing.
Nothing has changed as the major players with the complicity of the
government just sweep all of the crimes under the rug. Stay tuned for Meltdown
Two coming to your local town.
MARKETS ARE ABOUT TO CRASH. Right now we are sitting on a huge bubble and a big correction is coming. We will be talkin about it with Mr Billion, who is a billionaire trader (M.L.Billion) that cashed millions in the last market crash, also predicted by him. We will be in atlanta next weekend, and you DO need to atend in order to position yourself and protect your assets.
THE MARKET CRASH. W/ M.L.BILLION
TIME 1:30:00 - 2:50:00 watch it all.
Blah ,blah ,blah ,
In the old days there were some guys who called themselves anarchists,(1900) and it was because of them that things like the social state were created, but now people are sleeping with drugs, television, football, sex, news, etc. . And it's all simpler and easier, it's like taking a candy to a child!
I saw the bubble-burst coming in the housing market. I convinced my friend, who was considering selling, to sell her condo ASAP before the market crash. She did. It turned out to be the last time someone got that much money for a condo since then. Within months of the sell, the bottom fell out of housing prices; the price bubble had burst. My friend was very happy to have sold while she could and make a profit.
I really need help and support, I would like my very short video clip to go viral It’s just a small clip of the me telling my side of the way catalyst housing treated me after my mum died of cancer. Catalyst housing have no morals or integrity they took advantage of my sister that mental health issues. Then a made a single mother with multiple sclerosis intentionally homeless. https://youtu.be/8DOljEOjk14
The only people to blame for the housing market crash is GEORGE BUSH and BILL CLINTON !
The banks only did what these to presidents told them to do. If you people would learn to read you would already know this. Or maybe you can read and it's just CLASS ENVY ! Either way the blame is the same !
If you notice it starts off saying buyers could not afford the loans, but then it goes on to explain how they brought them in with teaser rates but allowed those rates to balloon to who knows what. so what really happened is banks and mortgage companies tried to rob lower income Americans with adjustable rate mortgages and balloon payments but in the end put themselves out of a job and then tried to use the excuse of these people got loans they couldn't afford, well guess what not too many people could afford a mortgage with 12% interest rates and gas prices @ $4/ gallon, and energy prices were also through the roof.
As a child I was almost always the banker in the Monopoly game growing up. And guess what I cheated and always won! I thank God for getting hold of me, so such ways of selfish intentions left for things like love, truth and justice. Greed is a cancer, and the power and influence of such who love money is evident and though spreading out like a cancerous bay tree, such are prepping their lives for the company of the wealthy man that pleaded for a drop of water from Lazarus...and well, God has no need of your money/wealth, so enjoy your ways here. God has no use for your schemes nor riches, and your plausible deniability....laughable and scarily pathetic
I'd give this a thumbs up if only the title was honest. This is an old documentary, pertaining to the 2008 crash.'Trading coachUK' has not only failed to post who produced this (Al Jazeera) or when (~2011??), but has inserted '2018' into the title - a misleading extrapolation.
I suspect that Dick Fuld was not ZionistJew enough for the club. Paulson "The British screwed us". Be prepared for round 2. The coup de gras. They never forgave the Revolution. They Will take down the US before anything happens to them. What is the US going to do.? Attack the UK.? Hardly. The citizens would go berzerk. Now you know who is in control.
Two top factors that started and fueled the recession in my opinion were: #1 The private foreign bank, known as The Federal Reserve, was no longer required to declare how many physical dollars were in circulation turning a currency into a commodity that they monopolized. #2 The governing laws that prevented public news broadcasters from the ethics of proper journalism was removed and they started presenting "for profit" news that influenced public behavior allowing a constant flow of propaganda to fuel the fear of financial collapse.
this is what happens when the government tells banks to reduce their loan qualification rules so folks who have bad credit, no jobs, no responsibilities and are just plain stupid are allowed to buy into the American dream of home ownership- you create foo foo home loans that are guaranteed to fail- everyone banks on them and it all fails- then banks bundle them up and lie about how great they are and kick it down the road to another bank who buys them....
everyone gets greedy- banks, home sellers, appraisers, etc..etc... and it is greed, stupidity and lies that create failures such as this.....negative amortization...you will never pay off the the actual price of the home- you'll pay high interest forever....
30 to 40 years ago houses went for anywhere from 10k to 50k, go 30 years ahead and houses are going for half a million to 3 million dollars that didn't happen by accident that is the outcome of government and corporate greed
From my prospective as a working class individual paying my taxes and doing everything needed to continue on, it is obvious the working class get shit on constantly as positions are stagnant longer than they should be with no hope for promotion, taxes and fees continue to rise yet salary doesn't seem to and we'll to break it down it is corporate greed and government imposed taxes that do not go back into the nation instead go into the bank accounts of the wealthy and as for government, our billions of dollars in taxes go to fund illegal immigrants and provide everything from Healthcare to welfare and it needs to end immediately. Our nation can grow and we the working class can be living comfortable without all this unnecessary bullshit taxes we work for to give others a better way of life. All will rot in hell where they belong
The best part of this story is when United States rhetoric almost caused all of Britain’s pension funds to collapse during the Deepwater Horizon disaster a couple years after Britain tried to destroy the whole world’s economy by cancelling the Barclays deal.
I emailed all hundred Senators and more than half of the 470 Congressmen every week during the BP crisis to remind them of what Britain tried to do in 2008.
I was approached by one of those sucker-mortgage scams and the smarmy look on the office worker's face told me everything, and the restricted ashamed tone of his voice told me everything again when he explained about ballooning interest rates But if I were another color and in another part of the state I guarantee NOBODY would have let on in any way. I am sure that was the ONLY training those office-monsters had. PERSONAL AWARENESS, my color and my neighborhood saved my life that day. Ashamed to have to say that though.
Plenty of talks about irresponsible bankers but not enough on irresponsible subprime borrowers. Don't borrow something you can't repay. Just because a restaurant offers you free refill drinks, you can't blame them for becoming diabetes. Personal responsibilities.
At what point does the people who took the loans get blamed for this? They take loans that they know they cant pay back, the real reason for the housing crisis was that very stupid people took loans from banks.
this is all government propaganda bullshit
the banks in california didn't decide to lend money to people without a back up; they were forced to do so by the government, otherwise they'd be convicted for discrimination
it was the fucking government, you idiots
You said it yourself in the film, 'Countrywide' and other mortgage lenders allowed people to get mortgages who could never hope to pay them back again further compounded by knowingly trading in worthless shares, it was the selling off of those triple A rated toxic shares that seemed to be behind it all.
So why did the Federal reserve, the SEC and Alan Greenspan do nothing? The SEC also allowed Bernie Maddoff to continue ripping people off with his own private scam.
The de-regulation of the banks and derivatives were also behind the cause of the problems and when it all started Iceland hired
an American prosecutor and jailed ALL their bankers so why didn't the US and the UK do the same?
One of Icelands banks survived this, and that bank was run by women.
If women had been running all the financial institutions perhaps this would not have happened, women are generally a lot more careful with money than men are as the crash clearly showed us.
George Soros had a great comparison, he equated de-regulation as being like an oil tanker filled with oil, all the different compartments filled with oil were kept stable by the compartment walls.
Take those walls away and it could become very unstable in a storm at sea, and thats what happened to the money markets,
it all became unstable because of de-regulation which was helped by selling the worthless toxic shares.
I guess that:
Paulson, Applegarth, Cayne, Fuld, Diamond, Blankfein, Thane , Greenspan and all other CEO's and golden boys managed
to get out with their fortunes intact, I know that Richard Fuld started up another company so how was this allowed to happen? Shouldn't they, just like millions of other investors, forfeit that money, why should they be rewarded for completely fucking up
the system, how could they get away with it?
'The Big Short' and 'Inside Job' are two more films to watch if you want further entertainment and when you see 'Inside Job'
it's the professors at the various economic universities like Columbia who made money by advising that should also be brought to book and held culpable, people like the Fed chairman Alan Greenspan, but they wouldn't talk to Charles Ferguson the director/producer/writer of 'Inside Job', and that speaks volumes.
An especially salient video as we're on the cusp of an extremely violent downturn of Canada's economy and our housing market. Unfortunately for your average Canadian the correction in housing will be amplified by the coming recession that we are overdue for.. The fact interest rates are still at rock bottom means the central bank won't be able to pull a rabbit out of their hat like they did in 2008, and we're just going to have to take our bitter medicine this time. We can expect housing to correct below intrinsic value before the recovery. That means in some urban centers we won't see price stability until house prices are just under 3.5X average income.
The Crash did not happen in 2018 but rather in 2008 with the junk mortgage with the first six (6) month at 2.25 % while the lender forget to mention that the rate will jump, in six month at 7.5 % to 8.75 % and the payment will go from 675.00$ / month, the same price and sometime it cost you less than when your were paying a rent to a stranger or a company. Don't forget to mention that the payment will increase at up to 1250.00$ in six (6) month time. Poor people which used to pay 650.00$ for a 3 1/2 plus the bills around 250.00$ Hydro, cable, phone and internet, it comes to 900.00$ per month for lodging. With the food, cleaners and living expense, entertainment with the kids when it's the case. Basically you need a minimum of 1750.00$ of expandable money to live in acceptable condition for safety and lodging, at this level you live pay check to paycheck and there's no place for saving whatsoever. Those numbers are 2008 numbers and average price for a two bedroom apartment in low income and subsidised rental for low income people. Most, almost all were sold very shady construction house, very cheap and substandard where they suffers severe storms with 2x3 stick for exterior wall structure covered with a cardboard finished with a vinyl stock to the compressed fiber of recycled cardboard. They flipped the only thing about the cost of owning a paper house, the mortgage will cost you sometime less every month or a bit more from 35.00$ to 70.00$ a month, but now you pay for yourself to be the owners of your living space. They never mention the mandatory insurances the maintenance cost to keep the house falling on your head, to bring it to standard code for high wind and minimum safety for penetration of projectile, you have to reconstruct the house beside the 16"center by sticking a real 2x4 along the 2x3 which is actually 1.75" x 2.75" in real life, after this you have to attach the base of the exterior wall to the foundation and do the same with the roof, you attach the roof beam to the exterior wall with forms of galvanised steel, the same as the base of the wall. Most of those house were reclaimed the month following the end of the six (6) month teaser, suckers ! A large part of those substandard house were acquired for the land, pennies on a dollar for 10 % to 40% of the lowest listing when the house was served, seized and the name of the mortgage is the name of the bank or the institution who does the transaction. Right after one to three (3) month the mortgage were packaged, mixed with blue chips, government bond and different income found, large companies and conglomerate to be sold on the international market to income found, union investment found, banks and insurance companies. After a crazy year and a half, from the middle of 2006 to the beginning of, the first two or three month of 2008, than bang ! Le chat est sorti du sac ! The banks were not trusting each others, no one new exactly how much they were exposed, how many of these toxic bound they have in their portfolio ? The cabal have scammed the American and the world, those investment package are sold on the open market, if you know where to go or what to do, you can invest from your computer or your smart phone on all kind of placement financier, worldwide 24/7 for very cheap fees per transaction. They scammed 700,000,000,000.00$ seven (7) hundred Billions to bail out the banks, they're to big to fail, Polson put the gun on the president, if you're not socialist with us we will destroy the economy, print seven hundred billions and distribute it in the banks and the major corporations, GM, Chrysler, Ford were forced to take it, the only one who have paid back the guarantied lone is TESLA, GM did not give back a penny , Ford Kept it and did not refund, nether Chrysler/Fiat. FREEDOM PEACE and LOVE to HUMANITY !
Hang them all!!!!!!!!! Unless they repent calling on the name of the Lord who alone is God. But who will ask us for the joy and hope that is in us? And who has believed our report? Who ? Those who are called and choosen. PEACE ✌
You don't give it. Smh... The financial collapse wasn't really collapse at all, it was the greatest stealing of worth by institutions from citizens. It took me awhile to figure this out, but I had to look at what China was doing, and why they were doing it. China currency just like America is backed by nothing but it's word. China know there will come a day when their currency will collapse so what is China doing with the 4 trillion dollars in American T Bond debt they're buying property and resources all over the world. You think Russia took Kamiah because they were concerned about the citizens, they took Kamiah for its resources and natural gas, and the only reason why Russia is in the Middle East is because they're concerned about the oil. Because if the money system collapse what physical asset will they have other than property and resources. In America the greatest theft happened right before our eyes.
My mother taught me there is nothing in this world for free. These Banks new that the American dollar is not backed by anything and they had trillions a trillions of dollars sitting in their bank accounts. So someone thought how do we turn these trillions of dollars that could one day be work nothing it's a real assets. Well let's give subprime lenders loans and have them qualify for real property. So they gave people with subprime credit loans in exchange for real property so when the banks were closed on these properties the banks now have physical asset so if the money system ever did collapse due to the mounting debt the banks would have physical asset. Represented in land homes cars jewelry and gold. And what would America have its wealth stolen from under them. On your property you can grow great amounts of resources. What money that has no value you can only burn it to keep warm.
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I had customers that I had to finance $2000 car. They asked me (illegal immigrants) for letters, stating that they have paid the $2000 car. Out of curiosity, I asked what the letter was for in 2006, they said to buy homes. They are taking mortgage of $270k with stated income and my mortgage is $75k. That is when, I knew the housing market is going to collapse. It is happening again, in cars ( new car with people with 550 credit score) and housing mortgage with no down. Used commonsense, when people does not have their hard earned money tied to anything, they just walk away without paying.
I used to belong to crying snowflakes blaming bankers and corrupt politicians for the housing buble in 2008. When in fact, the rest of us people are the one to blame ONLY! Bankers cares about profit and that is so legitimate stand. If they're selling some shit securities it's government's (translate people's) responsibilitie to prevent it from happening. And the corrupt politicians goes on our soul, not banker's. We elect them, right :-)
*HEAR ME NOW & KNOW THIS........France, the British monarchy, the Vatican, Washington D.C. and those jackals causing ALL the trouble over in the Middle East are all equally responsible for every bit of what ails the world!!*
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