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Here's Who Really Caused the Great Recession
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Here's Who Really Caused the Great Recession
financial crisis 2008 explained
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History repeats 2021 ever Grande in china
Everyone in Congress should be in jail.
Why did you leave out the government regulations that allowed this?
Govt conspired with the big banks to fleece the American taxpayers.
That was a veeery simplistic explanation 😐
Didn't the government force banks to make risky mortgages?
Ultimately, it was a lack of personal responsibility that caused the crisis.
Why would anyone take out a mortgage that they can't afford?
Too many idiot's caused the crisis.
Exactly 13 years before, today, AIG ran out of money
The government thru Fannie Mae and Freddie Mac forced lenders to give mortgages to unqualified people. Calling them before Congress and accusing them of systemic racism, these lenders bundled these loans to partition them away from their normally bonded loans. They began to hide them in other bundled products and pass them around like a hot potato. It was predictable and preventable and initiated by the US government, period.
In a real capitalist society nothing is too big to fail. In monopoly nobody is too big to fail.
The rich got richer, the politicians got re-elected and you (I) lost my job.
Democrats always having to clean up Republican messes.
Republicans are a f’ing trip man. They have such shitty values! It never about your political opinions it’s all about your shitty values!
The FED and congress are principally responsible for the crash. AIG deserves some blame as well.
This great recession started when Bill Clinton forced banks to lower lending standards.
We made good Money with this.
Your assertion that an insurer should back each underwriting with full collateral is utter nonsense.
The entire idea of insurance is to use statistics to predict damage and thus NOT having to collateralize in full. Because if you had to then our modern world would not work.
Or how do you think people would be able to collateralize the potential liability of running over a pedestrian in their car? No-one would be able to afford running a car. And the same applies to any other insurance you can imagine, including insurance against house-owners not paying their mortgage.
SJW's ….leftist filth. Absolutely the culprit!!!
Politicians who are so good at getting their own snouts in the trough should be held personally liable for such obvious neglect.
Gordon Brown, a bigot, with an inflated opinion of his ability should never have been allowed to walk away from the mess his policies created.
The term "to big to fail" started when the banks bank's heavily invested on the Penn Central RR and convinced the government to buy it and it became Amtrack and Conrail.
To blame the 2008 recession on sharp traders, broke home buyers, or anyone else, is too simplistic. The culprit in everything is us, period. All the mind-boggling benefits we get (ask anyone in Europe or the rest of the world) is far more than we can afford. Yet, no one except people derided as 'kooks' have objected to this chronic over-promising. If you demand Congress 'get real', our problems end, but only if our over-spending does. And, yes, I am a retired CPA…
I got recommended this video bc amc and gme are about squeeze and the market will crash. Its all the hedge funds and banks fault
My American ex-mother-in-law
once told me:
"We'll go 'stated', 'no doc',
this is the USA, it's 'OPM' "
… glad I never went for it.
There was a lot going on in the crisis, and this added an important piece. Until now, while I knew about MBS's and CDO's and the crooked 'Masters of the Universe' at the Ratings Agencies, I had not fully understood AIG's nor CDS role in the collapse, and the linkage to Lehman's fall … which was in turn the most visible consequence at the time, and the apparent (but not) trigger for the downturn.
Thankyou for the video.