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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These Wall Street guys were pathetic. Smartest best paid people in America. Begging Barclays for a bailout. Begging the Gov. for a bailout. Greedily filling their pockets. The bankers must have seen the crash coming
A little inaccurate depiction of the Bear Stearns collapse mid March was way to early the subprime crisis didn't really hit U.S. shores until September "I believe that sudden and massive losses and margin calls of more than $2.5 billion on tens of thousands of short COMEX gold and silver contracts were the specific triggers that killed Bear Stearns." -quote Theodore Butler of GoldSilverWorlds http://goldsilverworlds.com/category-technicals/gold-and-silver-shorts-were-the-real-demise-for-bear-stearns/
The stock markets are all casinos. J.P. Morgan said "investing in the stock market is like taking a cold shower, once in, you want to get out". Stock markets are like musical chairs. As people start to cash out of a good stock by selling, the price will fall rapidly. The last to sell will not do well. Invest in yourself. School, certifications, etc., pay better than stocks will ever do as an investment.
oof they forgot that obama came after and blew another bubble that is going to crash under trump REALLY fucking hard the US is like a house of cards equilibrated by monei printing when the printing stops that is going to fall
No, not another 42 minutes of suspense, drama, tear jerking music, and photo-shopped pictures designed to cause an internal dialogue of good vs. evil.
Just explain what happened in a paragraph. It shouldn't take more than a minute or two. Skip the drama.
Why did the government keep dropping interest rates Why were mortgage interest rates so low? People saw others buying a home, and 6 years later, it doubles in value. They were building so fast, nobody could keep up. So why did they want to keep mortgages so low? What's wrong with 7%?
We are told that 2019 is the start of the worst economic collapse in the history of this country and the world. People are still continuing to live above their means, instead of downsizing and paying off debt. We are now beginning to see the housing bubble starting, the stock market recently crashing, stores closing, layoffs ie Ford motors, etc., gas increasing, floods, hurricanes, floods, wildfires totaling billions, major goverment cuts , WAKE UP PEOPLE....WE WILL NOT BE SAVED BY THE GOVERMENT. THE NEW DEBT IS 21 TRILLION AND COUNTING, THIS COUNTRY OWES EVERYONE....
I recall in 2007, I had a mortgage with Countrywide, one of their reps called and attempted, for over an hour and a half, to convince me to refinance, and borrow more on my home that had a 15 year mortgage and make change to a 30 year mortgage. I could not understand why at the time but now I am glad I refused to comply and my home has since been been paid off several years ago.
9:34 to 10:11... I'm done...used to be a musician, and had to check contracts real quick, that how I knew crooks were across from me; the middlemen should have gone to jail, and everyone who got swindled should have gotten a FREE home as reparations, care of the gov't , and those financial people should have been in handcuffs/paying for the free homes.
Greenspan is married to Andrea Mitchell who, on the morning of 911, went on tv and announced to the world, without a shred of evidence, that Bin Laden did it. We now know Israel did it and that Bin Laden had nothing to do with it.
The Stockmarkets of London and Wall Street are nothing more than casinos, allowing people to buy shares “ on market “ ie 10% down the stockbroker avdvances the other 90% , as long as the value of the shares increase, its “ Happy Days “ but when the bubble bursts as they all do, it triggers a panic, which develops in to a slump.
The Rich are almost never affected. The public will always be taken in by “easy money “ it’s called GREED.
I did a Fire Prevention Course in the Army,they gave an example of conditions for a fire to exist, Fuel, O2, Heat.
Take any one away, and you don’t have a fire.
In my opinion it’s the same with Banks, Greed, Confidence, and Fear. Once one is in the Assendent the Triangle collapses, when Northern Rock went tits up in 2008, we entered the Worlds biggest Resession, unlike 1929 no Banks were recapitalised only by prompt action by the the British Prime Minister, to massively inject Billions of pounds of tax payers money, the ATMS would have run dry the next day. The first run on a British Bank in 140 years.
Under FDR after the 1929 crash, he regulated the hell out of the Banks, but now no regulation, leads to all the thieves , carpetbagging bastards in the world trying to make quick money, and it GREED always leads to disaster. We will be paying for 2008 for the next twenty years at least.
I'd think we, as a nation and people, would be getting better and better, learning from our mistakes and refining our direction. But we are heading in the exact opposite direction, and not only fast but gaining speed exponentially. 'Exciting times are indeed coming our way.
The purpose of this "documentary" is to blame some few crazy people in the financial system ... The reality: It's all controlled by the most powerful people and crashes are done BY PURPOSE to steal from the people.
Um have u been in the market long, bitcoin is down 68% and all the shitcoins are down 90%+ so ur statement is kind of idiotic, bitcoin is in a league of its own, i mean 115$ billion market cap > then all the shitcoins combined
Not mentioned in this entire tirade was the governments forcing banks to loan to people, who the banks knew for certain, could not pay the loan back.
Today, substitute college and auto loans for housing loans and you have the same exact formula for another perfectly avoidable market crash.
Now observe what happened to all those foreclosed houses... that's right, the banks swooped in, gobbled them all up at fire sale prices and made a killing.
Do you really think all of this just happened by chance?
There is an adage that there is no fraud without an appraisal. I was an independent appraiser at that time and I lost a lot of business. I refused to appraise any properties at a predetermined value. I got even after the crash when I was asked to review questionable appraisals. The results got some of my competition who accepted the jobs I refused in prison.
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Wall St is actively aided and abetted by Washington, and if you think that has changed under Trump you're deluding yourself. He doesnt want to drain the Swamp - he wants to wade through it for the rest of his life.
Greed is a terrible thing. How much is enough. I found myself cringing alot during this documentary. I work in finance and put myself in my client's shoes. You have a fiduciary responsibility in this industry to assist and protect these good hardworking people. I am grateful to them because they enable me to earn and take care of my family. You are supposed to be your brother's keeper. Wish all these corrupt greedy pricks had followed suit. They give us honest proffesionals a bad name and not only is it wrong , it's unforgivable. Bastards.
Saying "Shame "...all you stupid idiots lost all your money, pensions, 410k money and all you do and say is " shame on you "....you people can do stronger than that. These bankers and investment institutions are all natural born thieves and crooks who got away with murder. These people will sell their own mothers for a price.
FED = Fraud Experts of Domestic banking system. @4:44 the jude Alan Greenspan could have stopped it - he didn´t. Jewish Rothschild did a lot of insider trading to make a fortune. Jude George Soros destroyed the ECS (European Currency System) in 1992 - just to make money. One thing to remember. The FED is NOT government controlled (what it should be) - it´s a laughable "self-control" of about 16 private banks who are steering our money system - and it sucks. www.fedupusa.org for better days. AND never trust any bank - never!!!!!!!!!
Only american's are will collapse that why half american's are on drug's so the government started to legalise marijuarna to stop the epedimic of drugs spreading and I don't think the world will be affeccted because china's are rich as fuk and that's only the beginning andtheir population is so large it will save the world.
Soooooo one sided!!! Yes, Maxine, your constituents are totally stupid (this is EXACTLY what this idiot is saying). It's everyone's fault but theirs for going into massive debt. But guess what? They had no skin in the game, stopped paying their mortgage and lived for 1-3 years in a home they simply trashed then walked away from. That is a FACT!!!
The greedy sheep always playing victim. Where are these sheep after corrections? THAT is the time to buy. Small time investors and masses using their homes as ATMs were just as much to blame as "evil" Wall Street - pathetic losers always blaming everyone else ...
Maxine Waters and her husband partly owned a bank that went bust as a result of this scam. She spent her time in Congress begging the Fed to bail the bank and save them. She is a lying whore when she complains about the crash. She was partly responsible for it.
The financial crisis was not the banks fault entirely or even 50% in my opinion. America has a accountability problem. Example: A grown adults making $25k- $30k a year willfully going to a bank/lender and getting a mortgage for $200k or around $1,500 monthly. Basic math and common sense says they cannot afford that. It is not the banks fault that ppl are stupid and want a loan they can’t repay. Guess what? I would love to have $200k house and drive a $60k car but I know I can’t afford it. So, I suck it up and I buy a $125k house and drive a $20k car and realize it’s not the banks fault that A) I don’t make enough to buy what I want and B) If I go get a loan that I can’t pay back-it’s my own fault. Every adult in this country knows if you get a mortgage and you do not pay it-you will be foreclosed upon. That is not the banks fault. Sure, some bad lending went on. But if you only make $2,000 a month. How can you afford a $1,500 a month mortgage plus all other living expenses? Stupidity, unfortunately, is a human trait as well as the lack of responsibility.
Maxine waters can suck a white you know what. The first thing she says is mortgages were given to 17 yr olds on fixed incomes that will not increase. My question would be why in the hell would a 17 yr old be on a fixed income? Most 17 yr olds grow and get better jobs. But the ppl she is speaking of live off the government. They need to realize it’s not ok to live off free handouts.
Stopped washing this rubbish at 3:40.."the key to the meltdown was easy lending"...that worn out diatribe that didn't hold up then.
Your video starts to talk about the real problem at 5:40 but unless your video points out the the true underlying problem that still plagues the entire housing market today then your video is public consumption junk. How come you don't talk about the securitization fraud?
28:00 Typical French - cant speak any other language than her own, feels that she is the centre of the world, yet she got played by the US, just like everyone else ... you lost every war is history you engaged in, so go eat a frog and stay out of documentaries.
Global Communist = DEM Socialist & Communists = destroy Global economic = wealthy is more wealth = Poor is more Poor = such like China Communists labor s black money control all over the Worlds ~~ Why America & Canada suffering Housing price expensive s ?? Who brought & trouble maker Housing Market Crash ~~ all about ?? Who is control ~~ secret society ??
Maxine Waters ~~ JUST hahaha ~~~ Double standings & Double minds = America socialists & Communists against company & wealth = destroy America Free makets & Middle class s = nonsense ~~~ Truth is who is exactly enemy of American ??
This was a huge disaster that could have been avoided if so-called wars were not started and precious resources in trillion of dollars were not wasted. In the aftermath of full blown wars and while keeping the economy running and even keeping it artificially vibrant unprofessional and even unethical lending (sub-prime mortgage) was promoted thus creating a real estate bubble while making millions of people indebted and hoping to foreclose and sell their assets at higher prices while exporting the toxic liabilities around the world not realizing that this unethical lending could destroy all these institutions in the event of unprecedented default. Unfortunately the tremors not only shook few institutions but the economy of entire world. And worst part is that the down-fall still continues as political elite is not only unprepared but arrogant and irresponsible.
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