September 2014
S M T W T F S
« Aug    
 123456
78910111213
14151617181920
21222324252627
282930  
News for Norther Colorado and the world

Friday, September 19, 2014

Meltdown

A four-part investigation into a world of greed and recklessness that led to financial collapse.

By

aljazeera logo small Meltdown

 

 

 

Part one

 The men who crashed the world. (Video)

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. View Here

Print This Post Print This Post