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Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
CyberDan
Registered User
User ID: 192030
08-13-2018 03:46 AM

Posts: 2,157



Post: #1
beermug Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
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Very long video, almost 3 hours. This video explains what caused the 2008 financial crash and who caused it.

Its largely the BANKING SYSTEMS fault!



(This post was last modified: 08-13-2018 03:48 AM by CyberDan.) Quote this message in a reply
Danger Dan
I do it all for Rock n Roll
User ID: 446966
08-13-2018 04:02 AM

Posts: 716



Post: #2
horn RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
who the hell needs a 3 hour vid to know it was the damn bankers fault ?





Sorry bout the Noise
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LoP Guest
lop guest
User ID: 450243
08-13-2018 04:05 AM

 



Post: #3
RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
Yes the problems were created by lowering lending standards giving people who shouldn't have qualified loans for homes, that drove up the cost of housing to unsustainable levels.

That was an official policy, Bush helped lower the interest rates, and fannie mae and freddie mac guaranteed loans. They still have something like $6 trillion in loans that have become official government liabilities. So if they go bust the taxpayer has to pay off the loans, that's not counted in the official debt numbers either.

But in general it's the result of using funny money or currency created from debt instead of a hard money. With a hard money, banks have to lend secured, so they make sure that the people borrowing can pay off the loans. If the banks can sell off their loans via derivatives to pension funds they don't care if people can't really qualify for loans because they'll never take the loss, they get bailed out by treasury or the fed.

This all happened because Clinton abolished Glass Steagall lending standards that prevented banks from creating securities from loans to sell to 3rd party investors. Now, banks lend mostly non-secured.
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LoP Guest
lop guest
User ID: 450243
08-13-2018 04:06 AM

 



Post: #4
RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
And what is really funny is that in 2008 housing prices were considered a bubble, but now prices are even higher and it's not considered a bubble.

Scream1
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Archangel
Michael
User ID: 441975
08-13-2018 04:25 AM

Posts: 4,952



Post: #5
RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
Bankers made the biggest grab of assets since perhaps Joseph dispossessed the Egyptians in 2007 - 2008.
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LoP Guest
lop guest
User ID: 417519
08-13-2018 05:03 AM

 



Post: #6
RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
CyberDan  Wrote: (08-13-2018 03:46 AM)
Very long video, almost 3 hours. This video explains what caused the 2008 financial crash and who caused it.

Its largely the BANKING SYSTEMS fault!




Dont need a 3 hour video.

Banks sold mortgages to people who couldn't handle them. Those mortgages were bundled into securities by the same banks then given triple AAA ratings by ratings companies. These banks then sold those securities to hedge and pension funds globally. The same banks then bet against those securities that they would fail through companies like AIG.

All the banks and ratings agencies involved should have had their top management arrested and charged criminally as well as having all their I'll gotten gains seized and been broken up as the criminal enterprises they are.

Instead they were bailed out in tens of trillions stealing purchasing power from everyone holding dollars.
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LoP Guest
lop guest
User ID: 456407
08-13-2018 05:07 AM

 



Post: #7
RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
And you probably
Dont wanna hear that
The Fed saved the day
By printing

For who and for how long??

Well
The devil is in the details
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LoP Guest
lop guest
User ID: 450243
08-13-2018 05:51 AM

 



Post: #8
RE: Global Financial Meltdown - One Of The Best Financial Crisis Documentary Films
LoP Guest  Wrote: (08-13-2018 05:03 AM)
CyberDan  Wrote: (08-13-2018 03:46 AM)
Very long video, almost 3 hours. This video explains what caused the 2008 financial crash and who caused it.

Its largely the BANKING SYSTEMS fault!




Dont need a 3 hour video.

Banks sold mortgages to people who couldn't handle them. Those mortgages were bundled into securities by the same banks then given triple AAA ratings by ratings companies. These banks then sold those securities to hedge and pension funds globally. The same banks then bet against those securities that they would fail through companies like AIG.

All the banks and ratings agencies involved should have had their top management arrested and charged criminally as well as having all their I'll gotten gains seized and been broken up as the criminal enterprises they are.

Instead they were bailed out in tens of trillions stealing purchasing power from everyone holding dollars.

And now they are even more leveraged than they were in 2008, meaning they will need bigger bailouts in the next crisis.

Bailing firms out solves absolutely nothing but ensures the problem is only intensified during the next cycle.
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