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Showing posts with label 2008. Show all posts
Showing posts with label 2008. Show all posts
October 15, 2011
After the fall
In the final episode of Meltdown, we hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism.
The financial crash of September 2008 brought the largest bankruptcies in world history, pushing over 30 million people into unemployment and bringing many countries to the brink of insolvency.
October 5, 2011
Paying the price
The third episode of Meltdown looks at how the victims of
the 2008 financial crash fight back. A protesting singer in Iceland
brings down the government; in France a union leader oversees the
kidnapping of his bosses; and thousands of families are made homeless in
California.
September 30, 2011
The men who crashed the world
The new series on Al Jazeera explores in 4 episodes how greed and recklessness led to financial collapse.
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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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