September 2008. A 158-year-old investment bank falls down overnight.
What complies with is the most awful monetary crisis considering that the Great Depression–$ 19 trillion in home wealth gotten rid of and greater than 8 million jobs shed.
In this video clip, we pull back the curtain on just how cheap money, sub-prime mortgages, and Wall Street alchemy transformed the American Dream right into a global nightmare– and why the shockwaves still shape your wallet today.
Timestamps
0:00 The Housing Hype Machine
3:03 The Bubble Inflates– Greed, Leverage, and the Point of No Return
When the Music Stopped, 6:56 The Collapse–
9:47 The Rescue– Bailouts, Billions, and a Bucket of Rage
Watch till the end for the takeaways every financier– and homeowner– requires to bear in mind.
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This video clip is for educational and enjoyment purposes only. Some information may be simplified or contain errors. Constantly conduct your very own study to gain a deeper understanding of the subject.
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