The Causes and Effects of the 2008 Financial Crisis

Economy | Information | History | Online | Facts | World | Global | Money

1. beautiful
2. Wow.. Just watched Big Short movie on Netflix and came here to learn more about the 2008 collapse. This video is excellent in its narration and ease of understanding. Thank you very much. Subscribed :)
3. amazing video.
4. amazing
5. I know bankers/investors were/are scheming greedy bastards but the 2008 crisis is also a reflection of wider society. Everyone wanted everything cheaply, big houses, nice cars, nice holidays ect that many were living far beyond their means so in a way were all to blame..
6. The educational and easy to understand. Thank you.
7. must watch nice explanation #THANKS
8. I think that it was better watching this after "The Big Short" but wow! Scuzzy finance people.
9. This is genous
10. People just don't understand how better it is to pay cash for a house no mortgage no life crippling debt, if you have a house in your name alone a stable roof over your head you will know peace of mind like no other.
11. this is fucking scary man..
12. Anyone watching this video, PLEASE do not let right wing economists and neoliberal ayn rand retards rewrite the history of this event just like they did for decades with the great depression. There already are plenty of libertarian cultists who try to spread propaganda and misinformation that the CRA was wholly responsible for the 2008 crash(it wasn't). Don't let them get away with it.
    
    The CRA had nothing to do with the 2008 crash and subprime mortgage crisis. The CRA had been around since the 70's and the housing bubble didn't start until the 2000's.
    
    What caused the subprime mortgage crisis was an increase in demand from investors for more mortgage backed CDO's. Once the banks ran out of good mortgages to use, they started lowering their standards to the point where they almost never denied anyone a mortgage.
    
    The CRA didn't force banks to give mortgages to dead people, or people who had no fixed income, etc, which is exactly what was happening. But, for the sake of our libertarian colleagues, lets assume they did. Even if the CRA was fully responsible for the subprime mortgage crisis(it wasn't at all), who was forcing banks to package these garbage mortgages(which they knew were garbage) and sell them off to investors telling them they were good investments? Oh right, nobody, they did it by their own volition because they are snakes. Those same banks were simultaneously betting against the failure of those same garbage CDO's they sold off to investors. They knew exactly what they were doing.
    
    The only reason neoliberals try to push this bullshit is because they are so attached to the principle of no government involvement in the economy. They don't approach this situation objectively. They start with "it has to be the fault of the government" and force themselves to find a way to end there.
13. LOVED IT!
14. Very well done! This is a very good Video to really understand how it works.
15. buy wisely, invest greatly. These are our options.
16. awesome video. i keep coming back to it every now and then
17. Obessesed with The Big Short.
18. So does anyone know what ultimately happens to wealth in a default? (At the government level). I think the big banks are still at it with the CDOs, just a different name. 
19. 7:24,so the message here is,if you are fat and smoke cigarettes you will produce children devoid of crotches.
20. This is an accurate video of what happened. However, Bernie Sander and Elizabeth Warren want to "break up the banks" often citing "too big to fail" and I fail to see how this would be a solution. One investment bank or one hundred, if everyone is doing this (and they all copy each other), then it would happen. "Break up the banks" isn't based on reality, it's Occupy Wall Street simplistic way of punishing bankers, that's it. Doesn't make us any safer and surely doesn't address the problem of risky investments