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Financial Meltdown Documentary – Could it all happen again? financial history documentary



This finance documentary begins with the largest bankruptcy filing in US history. Investment bank Lehman Brothers filed for bankruptcy on September 15, 2008 citing bank debt of $691.063 billion.

The collapse of Lehman Brothers, once the oldest investment bank in Wall Street, sent shockwaves that rippled through the financial systems of the world economy.

Banks continued to trade mortgage bonds, and a vicious demand for additional subprime lending was fueled. The real estate bubble led to subprime lending, and banks underwrote risky mortgage products and packaged them to investment banks.

These high-risk bonds were deemed effectively risk-free but when mortgagors/homeowners defaulted, the bonds lost value which aggrandized the crisis and astronomical losses in the financial crisis.

September 2008 launched an extraordinary chain of events:

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– General Motors, the world’s largest company, went bust.

– Lehman Brothers became the world’s largest bankruptcy ever.

– Washington Mutual became the world’s largest bank failure.

Some speculate that an economic collapse of post-2018 is eminent. Others say we can expect a correction and not a crash.

Meltdown’s cast of characters includes:

Geraint Anderson, aka “City Boy” – This hippie-turned-stockbroker in England reveals the dirty secrets of high finance. He says lying and cheating were all part of the high-stakes game.

Dick Fuld – A true Wall Street predator. As CEO of Lehman Brothers, Fuld boasted he’d rip out and eat his enemies’ hearts. Instead, he watched his own empire collapse beneath his feet.

Hank Paulson –As US Treasury Secretary, he lurched from crisis to crisis during the meltdown. On his watch, the U.S. spent trillions to bail out Wall Street companies, including Paulson’s old firm, Goldman Sachs.

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Sheikh Mohammed bin Rashid al-Maktoum – The self-styled CEO of Dubai, Inc built an astonishing real estate empire. Bigger was always better, until it turned out to be largely a mirage.

Marcy Kaptur – This Congresswoman from Ohio is an outspoken voice for the families decimated by the Great Recession. She’s demanding that the bankers responsible pay up.

Investigators begin to sift through the meltdown’s rubble. Shaken world leaders question the very foundations of modern capitalism while asking: ?

This video is for educational purposes only. Credit: CBC Documentary Films

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