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Best Documentary of the Housing Market Crash (of 2019?) | Inside the Meltdown | Behind the Big Short

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MELTDOWN - The Men Who Crashed The World - 2019 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. Trading Strategies Live Trade Coaching Binary Options CFD's Futures Equities Commodities FX
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Text Comments (977)
william fitzpatrick (11 hours ago)
Most annoying background music I ever heard.
Roger B (4 days ago)
Think it was bad then? Look at the world right now. It is at critical mass and everyone just pushes their heads deeper and deeper into the sand out of fear of seeing reality. It is already here and everybody just keeps buying, buying and buying. When it goes down now there is no government in this universe that is going to be able to bail the greedy bastards out and it's not coming. IT IS HERE!!!!!
Jan fromOz (6 days ago)
With big managers come big incentives & big wages and bonuses.. so to equalise the game, there should be life jail time for all CEOs who preside over the next crash. They stand warned . . Prison for high to middle managers who share in obscene bonus schemes that incentivize fraud.. JAIL TIME!
Zzyzx Zee (8 days ago)
Alan jewspan...fkr!
Olaf (10 days ago)
Two men didn't cause the crash, unregulated capitalism and a speculation bubble caused the crash.
Adolf Hitler (11 days ago)
((( hank palsen))) ((( Goldman Sachs )))
Adolf Hitler (11 days ago)
J ewish world control through usury
Anonymous Hippopotamus (13 days ago)
Get the title right! 2008.... not 2018.
N Hinton (16 days ago)
I hate rich people.
Lora Scelsi (10 days ago)
A greedy person will sell out even their own family.
It is political, combined with banks policy to insist re--payment of created fiat on a banks ledger at the rate they insist upon! It is this decision to insist that the rate be kept high, and in particular never allowed to sleep, as in the non acceptance of the fact that people could not pay for the period of time. The fault is with regulation, not with the issuing. Fairly obvious who profited to the tune of trillions, and that is those that could buy the property foreclosed at fire-sale rates! It was an old fashioned hold up on the highway using sophisticated ruses.
raz ram (18 days ago)
It was engineered by the elite to transfer wealth and its going to happen again
Not Used (19 days ago)
Fakey as it's 2019 now! Lol!
robert roberts (20 days ago)
why is a 17 year old on fixed income
thefreediealone (23 days ago)
maxine waters??? im outta here!!
Mr. Bont 00420 (24 days ago)
Whoever made this your a scumbag. I couldn't make it through the intro to know bullshit when its plan as day. It doesn't take much research to be clear who was the creator of this unfortunate situation. BILL FUCKING CLINTON. In 1995, using the powers of the presidency, Bill Clinton turned the 1977 Community Reinvestment Act into an aggressive program that basically forced banks to lend money to "underserved" communities. That meant those with low incomes who couldn't necessarily repay a loan. Meanwhile, his Department of Housing and Urban Development got involved in a big way. Jack Cashill, writing for the American Thinker, notes: "HUD, which Congress had made the regulator of Fannie Mae and Freddie Mac in 1992, began to pressure these agencies to set numerical goals for affordable housing, even if that meant buying subprime mortgages. The media cheered the agencies on." Those people in the intro are wrong as well, but blame the president who made the housing market into the wild wild west.
Big Kahuna Burger (25 days ago)
Irresponsible use of debt is usually what causes problems; whether it is individuals, corporations, or small countries. What happens when the debt of the United States becomes a problem? 21 trillion and we are about to spend billions more on a wall and infrastructure projects and the costs of entitlement programs are rising every year? There is no easy answer, but our elected officials really need to start getting more serious about our budget.
Frank Heuvelman (27 days ago)
04:54 >> Even the chairman of the public investigation calling the Federal Reserve Bank an agency kinda says it all. Nothing ever changes.
WAKE UP TV (27 days ago)
Good video, Thanks for sharing!
Raghavendran T B (27 days ago)
Will there be another one in 2020?
It's a private debt crisis! That is government territory and it should be the money creating rights of banks via government that can always without fail manage a fiat currency! BUT they can't be bothered because the tax payer (whilst we still have one!) can be fleeced every time. None of the "poor" people needed to lose those homes, not in a fiat currency managed by AI algorithm.
謬聊 (1 month ago)
The worse effect, housing price driven up by federal reserve bank. And, the long term capital gain. Who,s responsible ?
Matt Beeman (1 month ago)
When people are not taught to save. That everyone should be able to possess the American Dream this is the kind of shit that happens. No money down interest only loans. What can go wrong?! In the mean time I had to come up with $80,000 for a downpayment on my home. You can bet your ass I'm gonna bust my ass to keep from losing it. When you actually have your life savings invested you will do what it takes to not let it go back to the bank.
N (1 month ago)
These rich cunts deserve a gaol call for life
tucan sam (1 month ago)
So mathematically speaking, from a first layer look so to speak,- investing in anything of this nature, is like going to the casino right? The way I would say every single game played in the casino, has a probability to benefit the house, there must be a probability in the favor of wall street. Correct? No matter what, they win type of thing going on right?
THE BIG BULL (1 month ago)
https://youtu.be/Wa_NFNbcxGQ
Frozen Fire (1 month ago)
why 2018?
84Actionjack (1 month ago)
Government rules, incentives and disincentives were at the root of the meltdown; not greed, an excuse for lazy thinking and a cop out.
JesusMySavior (1 month ago)
If I hear one more person in real life say "real estate is a worthwhile and safe investment"...LOL.
Matt Meier (1 month ago)
It wouldn’t be pretty
Matt Meier (1 month ago)
I wish the American people could get a hold of just one of em
Matt Meier (1 month ago)
Everyone of them cocksukers should be in prison EVERY FUCKING ONE!!!!
Diane Richards (1 month ago)
Greedy Criminals People should wake up to all the lawlessness going on in America, it’s all a set up.
scren99 (1 month ago)
What I find so perverted in the whole thing is how the banks took the bailouts and the houses. Should have used the bailout money to save the homeowners , and lock the bankers up.
Thermal Chill (1 month ago)
Bend over America : Big Red White and Blue Dick is about to be inserted up in your ass . I wish I was Joking !!!!!!!!!
bestrealtor intheworld (1 month ago)
I’ve been a broker / agent over 25 years. Yes you could buy a house easy. In 2007 keep in mind that somebody turned the money faucet off, even I was freaking out. People these things are planned by the rich for the rich and another crash is on its way so try to prepared. No matter how much you save you won't survive the next crash without making better decisions. I manage tenant that make close 10K a month with a stay at home wife and 2 kids and the guys away broke. It will be interesting to see what the public does this time as no jobs, no credit; nothing else to lose the government must have a plan to control the people. Another big lie is that people were trick into stupid loans, they could have walked out of the closing and do better, but they didn’t which was based on their I want my toy so they signed. I saw this this a lot. People get out of debt, stop smoking and drinking, stop eat out instead eat at home. It sounds like no fun but I tell you its very fun not to be scared of the mail box. You can live cheap. Soon you will go the jail for not paying debt and that means you’re a slave in a labor camp. God sat out the holocaust and everything else so I respect God for not helping when we get on a bus, train whatever without a fight. Why do we let greedy evil little scumbags called our government to do all these things to us? Do you think you’re under their radar? Throw the governments out and the corporations that gave are jobs away and lets start fresh it can’t be any worse that eating dog food that might be coming too. You end timers are just sad. All the death and killing and you think you’re so special that the invisible man in the sky is going to beam you up to safety before the world eats you for lunch or dinner. This on us. Fight. Stop voting see what happens? Make them put you in jail for a broken taillight they wouldn’t be able to pay for everyone in jail so this would all change.
Armenias Thunk (1 month ago)
You write like a Russian troll, but some of your advice is not bad even if the economy doesn't crash.  In fact, the more you save (that is, don't spend), the better your finances and the nation's wealth become.  Your notion that God sat out the Holocaust, etc. seems misplaced, though.  God granted man freewill when He made man in His image, as such interfering would be to take our freewill away.  Like any good parent, He loves us no matter how stupidly we treat each other.  The question isn't whether things must change, the question is whether we're going to handle things like adults and good parents, or just keep acting like spoiled, petulant teenagers.  Try to remember, friends, we're always on the brink of Armageddon.  It's not something God wants to happen or something that has to happen.  It was a warning, and if it does happen, WE ALL HAVE TO ANSWER FOR IT.
Robert Folkner (1 month ago)
It’s all gambling. Nothing more.
Anthony Sparapani (1 month ago)
This is a Canadian documentary from CBC
Lairdriver (1 month ago)
Pot smoking? lol. Cayne's biggest problem wasn't pot. That didn't make him do what he did. He was bad and greedy. He probably smoked weed to calm his guilty nerves.
Lairdriver (1 month ago)
The sad thing is that the Sub Prime Mortgage products are still being sold. The name has changed. Greenspan didn't listen and he is partially responsible for not stepping in and listening to whistle blowers. The next major financial crisis might be our last one.
Deborah AIchele (1 month ago)
and coming again.Lord help us.
Dwayne West (1 month ago)
Wow a chinese guy says "you drink the kool aid"Im done.
T Johnson (1 month ago)
We should kill them . . Basically.
MS Expert Witness (1 month ago)
All Bull shit The household was the investor where the demand for payoff was divested into a fictitious note and the multiple to net assets were short selling by Y2K calender defect. Sound bizarre Its not I was there
Black Ice (1 month ago)
SCAM !! THE BANKERS HAVE BEEN SELLING LAND THAT DOES NOT BELONG TO THEM! SEND ALL THEM BASTARDS TO MAXIMUM SECURITY PRISON ON RIKERS ISLAND.
Wombat Lover (1 month ago)
And how many of these Swindling CUNTS are in jail??? No set of laws for the Luciferian fucken rich and a complete set of ENSLAVEMENT LAWS for the common man. Wake up Sheeple, wake up!!! WWG1WGA - WORLD WIDE
Gary Wee (1 month ago)
Buy $XRP, there will be a crypto revolution in 2019
Sat Sang (1 month ago)
Don’t you get it? The world is ultimately run by psychopaths. Snakes in suits is a good book to start the process of understanding.
Derek Angus (1 month ago)
...of 2008.
Joe Pierre (1 month ago)
Hello Maxine Waters said about the subprime reset did you know how many millions of dollars her husband made from all this they were deep in this shit making money hand-over-fist because of poor people taking out mortgages they couldn't afford check out her husband the banker and her own Investments of loan to fail so we can foreclose after you paid for 25% of the house and make a huge profit on the fact that it's only going to go up yeah she's somebody who really represented our interests God bless President Donald J Trump and blue lives matter and you're a snake Maxine Waters
Matt Langstraaat (1 month ago)
Why people are listening to Maxine waters? She is, and has always been part of the problem...
Matt Langstraaat (1 month ago)
Pathetic! Not one went to jail ... California led it.. what's that tell you? Lost the moral high ground
Walt Blackadar (1 month ago)
It's going to be an unpopular opinion, but the British did "fuck" the US and then got it back in spades. Barclays was getting the solid parts of Lehman Bros and the American banks were taking on most of the risk. Instead the Brit regulators decided to stay out of it and didn't realize how interconnected the banking system was. Watch them on the video and they think they did the right thing but a month later - October 13th - Lloyds, Royal Bank of Scotland and HBOS failed followed by a few others over the next couple of weeks. Had they agreed to the purchase of Lehman it is quite possible that the worldwide cascade of banking failures would not have happened. Remember that all of those shit mortgages were still backed by a house. What was need was time. Time to get those loans modified. Time for the overstretched rubber band of a housing market to bounce back into shape. Time for the foreclosures to happen and to find new buyers. This isn't an opinion, it's a fact proven by TARP's success. Instead, Lehman's bankruptcy created a panic in the system that almost collapsed it. Maybe the banking crash still would have happened but there's a chance it may have a much gentler correction. So those British regulators aren't harmless in this - in fact they may be some of the more foolish actors in this tale.
Mike Wells (1 month ago)
Funny no matter how many trades they make, they get a profit. The public trusts them & the public always gets screwed. Make them sign a document stating that they are acting as your fiduciary that way you can sue them for loses if they don't act in your best interest
Anees (1 month ago)
At 10:05 that government official was talking about the"toxic products" and counting the different individuals and sectors as to be blamed, but my question to him is: what about the government?! Why? Was the government in an "intoxicated at that time as well"! He was reluctant to include the government because he was representing that government!
Marc Roche (1 month ago)
No mention of how Brokers drove oil prices to $140 a barrel In 2006-2007. Gas $4.50 a gallon. Everyone's budget distroyed, Then credit defaults followed. It was a planned perfect storm. Damn Money Junkies.
Peter Quibell (1 month ago)
The real crime is how it was handled. If they had kept people in their homes with an affordable pay-off plan. The recession would of not been so bad or last as long.Once things came right, people would of had wealth to grow on. Now things are better, people are starting again on starting from nothing.
Danny Mullins (1 month ago)
Wall st. is always responsible for deep depressions. Main St. should string up their denizens
dresdenkiller (1 month ago)
Poor Americans. Warms my heart to think of all those innocent people given home loans at gun point by greedy bankers.
S T (1 month ago)
So anyone that want Amrerica to go bankrupt and have an economic crash, know this; it will effect every country in the world worst than America itself. 600 billion took down a few countries and millions of people around the world were broke over night. If 20 trillion is taken out all countries in the world would fall into chaos.
S T (1 month ago)
They should not have bailed these banks out.
Peter Gurba (1 month ago)
giving fake money to illegals insure the house collect 100 fold and kill all over again. rat race no were to run or live. terrorist shepard
christos karagianis (1 month ago)
and no one of rotten people went jail f thifs
Richard Galli (1 month ago)
It was government pressure on the lending industry to make loans available to people who had a very weak monetary profile. If you think a subprime loan is a good idea or a adjustable rate loan is a good idea or borrowing 125% the value of a home is a good idea you may be too stupid to own a home. Obama's cash for clunkers put people in car loans they couldn't afford and damaged the used car industry. Any time the government decides to control a product they damage that industry.
Shawn Sitaras (1 month ago)
You want to know what this was about greed a bunch of people with too much money too much power and too much stupidity trying to get rich off on the backs of others that's all its about they gave credit to do with the didn't deserve credit they were trading with emotion not logic emotion in any situation except love is never a good idea especially in the workplace these idiots forgot that there's this little thing called logic which usually overtakes the motion
Joe Michaels (2 months ago)
Maxine Waters? Really? Multimillion dollar home that's NOT in her district? Oh, yeah...real bastion of honor there...
dog guy (11 days ago)
Its al Jazeera, a Qatar based and funded news organization
gary rich (2 months ago)
Throughout time Financial crisis occur. But. What no one asked or investigated were the Politicians who were Lobbied, Wrote, Passed these laws/regulations which All Firms took the ball and ran with it. You or I didn't pass these laws/regulations to speculate till the "cows come home". Too bad not all the cows came back home. Just asking Questions? Not hating.
TREX LEX (2 months ago)
The thing is that theses fat cats make money when there is a market crash. They set it up so they do.
TREX LEX (2 months ago)
REBUPLICANS PLAYED A HUGE PART IN THIS SO CALLED MARKET CRASH.
kinglearisdead (2 months ago)
The Prince of Darkness learned some of his skills from Alan Greenspan.
christopher spada (2 months ago)
Wonderful documentary. The solutions to many of the concerns here are addressed and solutions provided to make the world a better world for the average people. In "America! Fight Back! The Foundation For A Better Country!" (found on Amazon or Barnes&Nobles websites) the solutions are here for the implementation.
Financial Freedom (2 months ago)
As a self made millionaire/Investor, recessions/inequality are normal parts of capitalism. The economic cycle of boom and bust are normal. When inflation is high due to low interest rates, the rates are leveled out otherwise bubble will bust causing economic meltdown/recession. But even still, it can still happen. Second, inequality is due to lack of financial education + broken homes, drug abuse, crime, mental health, alcoholism, aka individual/personal problems. Not the fault of the overall system: Free Market and Capitalism. Your with it or against it, its a zero sum game.
Carl Johnson (2 months ago)
Made bad loans, then sold them, then bet against them, and made money 3 times on the same loan.
Carl Johnson (2 months ago)
Countrywide was shutting down their offices in 2005
D. Angelo Ferri (2 months ago)
Same story different day. These guys are thieves and they are policed by themselves. Take a look at what Charles Lindberg Sr. hand to say about the Fed.The Aldrich Plan (History of central banking in the United States) was a forerunner to that which spawned the Federal Reserve. "To cause high prices, all the Federal Reserve Board will do will be to lower the rediscount rate..., producing an expansion of credit and a rising stock market; then when ... business men are adjusted to these conditions, it can check ... prosperity in mid career by arbitrarily raising the rate of interest. It can cause the pendulum of a rising and falling market to swing gently back and forth by slight changes in the discount rate, or cause violent fluctuations by a greater rate variation and in either case it will possess inside information as to financial conditions and advance knowledge of the coming change, either up or down. This is the strangest, most dangerous advantage ever placed in the hands of a special privilege class by any Government that ever existed. The system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. They know in advance when to create panics to their advantage, They also know when to stop panic. Inflation and deflation work equally well for them when they control finance.
deez nutz (2 months ago)
Good old Hank P called his wife and told her to call his broker and pull his investments out. not to ask for a prayer, money was his GOD Till this day he still kept all his money.
Slyguy threeonetwonine (2 months ago)
Still wondering who the guy holding the gun to all these people's heads. Why aren't the people who signed for the loans held responsible?
Gitfiddle 7766 (2 months ago)
Does Maxine Waters not realize that it was the legislature that passed the laws the allowed the banks to lend to poor people? The laws not only incentivize the banks to loan to poor people, it makes it unlawful NOT to lend to poor people. Never trust a politician. “Hooray!!!! Wow what a wonderful thing we’ve done for the American people. Now everyone can get a loan!!! Wait....oh shit. Now everyone can get a loan. ..... let’s blame everyone but ourselves.” You piece of garbage Maxine Waters. You pile of subhuman filth. Note to the viewers: this video is misleading and does not tell the whole story. Take every word you hear in this video with a grain of salt. Do you own research if you’re truly interested.
Susanne Sund (2 months ago)
Did he say United Stains<=lol😄
TheDeathwalker86 (2 months ago)
Maxine waters is a multimillionaire and professional race hustler
Armenias Thunk (1 month ago)
So's your mother.
Jeffsframe (2 months ago)
Haha lol. Nobody NOBODY has been held to account !
Mike Fedele (2 months ago)
Easy money and govt promoting and backstopping mortgages caused this. And the first MBS was created by a federal agency. In the end the as usual politicians buying votes caused this.
michela derry (2 months ago)
financial crimes like these should be punished. Delinquenti!!!
Eric Bedenbaugh (2 months ago)
Dr. Michael Burry figured it out two years in advance. Only a few people listened to him.
Hector Lalalala (2 months ago)
It’s almost 2019...we’re still doing really good in Las Vegas
kevin roberts (2 months ago)
All created by Clinton
My Damn Channel (2 months ago)
2008 wasn't a drop in the bucket like the crash of 1929.
Lester Diamond (2 months ago)
Obama has been described as "The Black Mascot for Wall Street". Since not a single one of these guys was indicted, that seems pretty accurate.
Peter Michalski (1 month ago)
I'm at the start and I bet Barney Frank will not get even a mention. funny how one of the main players in this crises is never mentioned. I can't stand either one of these 2 politicians, but 2x George Bush proposed legislation to reform the banking system before the crash and Barney shot it down 2x because it "discriminated against the poor" I would like to see a documentary on the congressional players in this mess (both the ones who tried to head it off and those who thwarted them)
Life of Shay TV (2 months ago)
All these white racists on this thread talking crap about Maxine Waters but have nothing to say about the crooks who took advantage of a majority of Americans. You are all so obviously dense you can't see your ass from your face. Maxine Waters has more knowledge, intellect, and expertise than all of you combined. Haters who don't have any relevance will always hate on someone they think they are better than simply because the color of their skin.
Peter Michalski (2 months ago)
aw can't get away from the leftist NPC memes no matter were you go. Someone can't have an honest disagreement with Mad Maxies point of view. No immediately you start playing the racist card since you can not back up you point of view. I regret to inform you that that card is so worn out that most people these days just roll their eyes and say here we go again. The true racist is yourself, you start right in with the racial judgement within 4 words, pretty close to a record got to give you that. Maybe you go deeper into this crises and learn how the demonrat party were the ones who opposed reforming the mortgage industry when Bush (can not stand that Rino) proposed it hint research Barney Frank (that pervert)
doremidoredo doremifasol (2 months ago)
a bunch of nicely package bullshit- thanks as always Aljazeera, very credible
doremidoredo doremifasol (2 months ago)
" I swear he handed me a joint" Joint? That was the most innocent off the drugs wall street banksters posses in their daily drug of choice inventories
Peter Michalski (2 months ago)
Yah I knew a guy who came from the wall he said everyday was a blizzard
Walter Blyzniuk (2 months ago)
Fuck you Brits you know nothing inbred MF's
Peter Michalski (2 months ago)
Walter i really hope you're not American because you show the true failure of what nation's school system you are a product of.
mrabrasive51 (2 months ago)
the government as usual was responsible for the crash,and then has the gall to launch an investigation to find out who was to blame!!..they should all be rotting in prison!
David McNamara (2 months ago)
Hey Pal apparently your sanctimonious attitude makes you think it’s possible not to be involved in any risk and still gain financial betterment.
Peter Michalski (2 months ago)
Dave research the hand Barney Frank had in congress opposing mortgage and financial reform because it "discriminated against the poor" Yes the American demonrats had a big hand in it (I by no means am excusing the republican'ts)
Etienne Scarbinski (2 months ago)
Maxine Waters lol
Ictpilot Ictpilot (2 months ago)
The investigations were a sham! No one went to jail.
Lora Scelsi (11 days ago)
Very amoral values on Wall Street.
Peter Michalski (1 month ago)
+Abel Bekele how was I stating otherwise? my brother in law basically took responsibility for not thinking about the rates going up later and took responsibility. He just looked on the bright side after words.
Abel Bekele (1 month ago)
+Peter Michalski Don't you think it's the responsibility of the home buyer to diligently seek to understand what they are getting themselves into when it's a home loan that will be a debt for a life time?
Peter Michalski (2 months ago)
​+joaquim Rodriguez My sister and brother in law had the same thing happen. He says well I would have through money away on rent anyway, at least thins way I had a nice place to live for a few years,
xman666soad (2 months ago)
30:37 “I said Jimmy “stop it, stop it...who cares?” Not like he broke the L-... who cares?! Lol everything about that guy tells me he knew more than he leads on in the interview and he’s trying to minimize his own role. Remember this guy knew almost for a fact that one of the most powerful heads of banking was a pot head. While the global financial system was collapsing... But who cares!? It wasn’t like it was Illega- Oh it was....
Timakaceh Man (2 months ago)
I feel good but I would felt better if some people were lined up against the WALL and shot.
Shibli Ziadeh (2 months ago)
If we hang few of these fucking bankers every year, I will fucking guarantee you, non of this shit would ever happened.
Peter Michalski (2 months ago)
got to include their enablers the politicians and bureaucratic. I think a good round number would be 1 per million so like a 110 bankers a major bank ceo few mid-level offices some accountants just a nice rounded portfolio as they would put it.
Randy B (2 months ago)
The next crash coming will make the 2008 housing disaster look like a day at Disneyland! The bankers are getting ready to crash the US Dollar so they can go to their new currency control with Bitcoin and Blockchain. DON'T SAY I DIDN'T WARN YOU!
Peter Michalski (2 months ago)
No agreement from me i think it will be delayed a little while because of Trump but when this goes down it will make the great depression look like a Church social.

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