This is really a top notch documentary. I binge watched the 4 parts in a row and that was great ! Watching this 10 years after makes you realise that sadly, nothing has changed. I had to pause many time and take deep breaths to calm down especially when banks got the money with NO STRINGS ATTACHED, while at the same time so many people/municipalities etc. lost everything... Greed in its ugliest face.
Sadly, we are in a much weaker position now, if something like this blows up again now, it could realistically lead the world into a 2nd great depression because the government doesn't have the same intervention power that they had back then. They do that now and they may end up collapsing the currency.
My favorite is where in 2018 there was a significant reduction in the Dodd-Frank act... and then Biden takes over and totally ignores the changes even though he was the VP when it was formed... and SVB fails and who gets blamed? Trump. ALL of these politicians have been playing dangerous games with our lives.
i think you're right---along with the fact that everything changed and not for the better. "we" sucked it up----"we" adapted----"we" became the underdogs to the richer and powerful and----look at "us" now....i've never lived in so much uncertainty in all my life! peace.
You are 100% correct. What I found shocking to add to that fact, is that bankers still have their snouts in the trough with over $80bn in bonuses between 2008 and 2021. They have learned nothing, yet we are all still picking up the pieces while they are busy creating the next crash!
Hey that’s the American way! Oh wait, I meant to say Hey that’s the Goldman Sach’s way! I’ve decided to quit my diet and stop exercising in the hope that I will be declared to big to fail. That way everyone else in America will pay my bills and I’ll be given big bonuses as well. Seems like a good plan to me. In reality if I screw up my finances I have to file for bankruptcy and lose all the nice stuff I bought on credit including my house and car. Then I have to make monthly payments until I pay back an agreed upon amount including the lawyers fees for setting it up for me. Then my credit is supposedly ruined for ten years except at about the 3 year mark I started getting offers for credit cards and car loans all sorts of stuff. Interestingly none of the offers would last past the last day of my bankruptcy lol. Seems they know I can’t file a second time within that ten year span. Ain’t life grand! Only in America! Lol
Ouch! You obviously watch the mainstream media where they do not show what is happening today around theft. In California, thieves can steal up to $900.0 worth of goods and not be arrested or prosecuted. There are videos showing such thefts in progress, as store personnel and shoppers stand by and watch. There are videos of gangs of thugs entering stores and escaping with bags of goods, everyone looking on. Major stores are leaving jurisdictions that don't prosecute thieves to the detriment of the people and the area. We have just been through a protracted period of street burning, smashing, burning and looting - picking large stores clean - with no consequences for the culprits. The mindset of Biden Regime supporters is that poor people have a right to steal, because they are unable to purchase the goods themselves. There are many issues surrounding the banks; however, who are the banks? They are public corporations with thousands of shareholders. If you have a pension, or a mutual fund, or any other kind of savings, you are likely to be one of the owners.
@@normamimosa5991 Heard about the news in CALIFORNIA lately. Honestly speaking, California looting incident news happened in late 1980s was the only one I could remember and the world there calmed down till Biden grandpa. All kinds of canadrum all raised after Biden administration. Even Trump time wasn't that bad at all with few old discrimination issues. Now California has changed even worse than the time I visited in 90s. The song-- California Dream reflects it's just a dream not feasible for anyone to live with EVEN WORSE high tax rate. No fun to live in that sunshine coast anymore. Guess only the people there understand this state.
@@normamimosa5991 Heard about the news in CALIFORNIA lately. Honestly speaking, California looting incident news happened in late 1980s was the only one I could remember and the world there calmed down till Biden grandpa. All kinds of canadrum all raised after Biden administration. Even Trump time wasn't that bad at all with few old discrimination issues. Now California has changed even worse than the time I visited in 90s. The song-- California Dream reflects it's just a dream not feasible for anyone to live with EVEN WORSE high tax rate. No fun to live in that sunshine coast anymore. Guess only the people there understand this state.
Lobbying is something I think should really be banned. Every time I watch a documentary of something in politics had gone wrong, I hear one fucking word that seems to be behind all the bad decisions that legislators and executive brunch had done that led to catastrophy. That word is: "Lobbyist/Lobbying/Lobby !!!"
IF people really understood 401K is really just another bank product thats not to you advantage and benefits them, the fees rob you of potential wealth.
A little research and work will easily let average joe understand these products. I called a very reputable financial company about a futures contract trading spread i wanted to do and to see if they could support it. They had to transfer me to their “futures expert” and once I asked him, he had no idea. I literally had to explain to him over the phone, how the futures investment would work out and when it clicked he said “ooohhh.. hey.. that’s a REALLY good idea!” which was the point when i realized, oh ‘these big finance people have no clue what they are doing.. I literally know more than they do.’ Since then I NEVER trusted ANY financial advisor or contrived product plan they offered.. I do all my own money management and I trust myself to make more than them. This is all available as a side hobby to anyone with a busy full time job.. but nobody wants to put in the boring work and research. Too bad, the only other alternative is to be taken advantage of
People debating left and right wing politics in America remind me of Baghdad in 1258, where Arabs were debating whether crow meat was permissible to eat or not while the Mongol hordes stood at the gates of the city.
When it comes to cultural, racial, and social justice - there still is a left and right approach to attempting OR NOT ATTEMPTING TO SOLVE OUR NATION'S PROBLEMS.
You know the general population is completely lost in consumerism and capitalist indoctrination when what they see in documentaries like this is suddenly a shock to learn about the system they live in.
I must say this is the type of journalism I appreciate and would gladly sit down to watch I already watched all 3 parts leading up to this and then I realized Hey I think today they're gonna release the final part and little did I know u guys was on Q
So far the documentary has done nothing but protect the bankers and the politicians ask they haven't been truthful with you and told you to hold them story
These are excellent documentaries and are easy to understand by working middle - lower class people like me who have limited understanding of financial/economic terminology yet care for what happens in this country.
It is dumbed down actually, but that’s ok, it’s easily digestible for the public and still a good documentary with good information, just not super in depth
Watched the whole documentary. Even after a decade it is an amazing testimonial to greed and incompetence in government, public policy, and Wall Street recklessness. President Obama and Treasury Secretary Geitner effectively engaged in the American version of the Battle of the Somme. They saved the banks, the bankers, and Wall Street at the cost of millions of homes, jobs, savings, and foregone opportunity. Nothing has changed except it is getting harder for ordinary people. Cost has been transferred to the public sector. The next bankruptcies could be the governments.
You're one of those people who just want to find any reason to justify your hatred of Barack Obama. @9:50 Listen to what is being said, not what you want to hear. Bill Clinton removed the last of the Wall Street depression era reforms, and before him, the reigns were steadily loosening. President Obama had a LOT of messes to clean up so that the economy would not fall completely apart.
The problem is also that many of these people, who are in Government Finance positions, who control policy, ARE from Wall Street. So they just look out for Wall Street.
Nothing evil about greed lol. You can be greedy and fair. You can just work harder bcs of greed. If someone has a lot of money and still works 16hours a day, he is greedy, doesn’t mean he is evil lol.
This a facinating series of documentory on Finacial crisis of 08, it attracted like a magnet makes me sit down and watched whole 4 espisodes for 4 hours, thank you PBS
It’s September 2021 and I just finished watching all 4 episodes. I would love to see an updated version of this series. Have we learned anything since these were made? Did anyone else get prosecuted or lose their job things like that.
@@davidelmsly5130 : Watch the video again and again until you hear a fraction of the truth and hopefully a fraction of the "lies by omission" from PBS. Can you name the people that this video reveals are in prison.
Great job that was done here great journalism as well having the ability to find the only 3 people in Wall Street that had a conscious and getting them interviewed
A very illuminating documentary which cuts through very deeply into complex world of wall street and then assembles the various facts to bring a very interesting anatomy of the crisis. It should be a requirement for students of banking and financial markets
Typical banker: There's a lot of risk involved with my clients money Typical banker: It's not my money so what do I care if I lose it all Client: Please be careful with my money it's my life savings
@@squirrellyboe7421 So we accept a capitalist welfare state instead? The whole "communist" line is designed to end conversations vs open up dialog about better ways to operate.
@@squirrellyboe7421 maybe it would surprise you to find out that progressive liberals also do not want a communist state. Name a single one who has suggested it would be a good idea. You can’t because none have. The republicans have been trying to scare you with this sh!t since McCarthy, and never stopped. Listen to Reagan - that was his whole spiel. Grow up, and let’s try to have a proper discussion, about facts.
Actually that is not reflective of the investment industry. Financial advisors who deal with ordinary customers (versus large institutional clients) are bound by one hard and fast rule, with serious consequences if they deviate from it. The rule is "Know Your Client." In other words know your client's financial situation and risk tolerance and invest his/her money accordingly. Financial advisors also care if they lose a customer's money, as they will lose that client if they do lose money for the client.
Michael Burry now tells us in 2021 we are in a bubble 'orders of magnitude' larger than 2007, so I look forward to Frontline explaining it to us in 10 years or so after the coming crash, since no one in media seems to be paying attention to it now.
Where is the great DR Burry ? I have followed his advise, I purchased land with water on it and no one in the foreseeable area to drink it out from under me. I would like to hear what he has to say !! For the record, I too, am socially awkward.
You can be assured that front line won't be telling you the whole story because they are part of the media and the media is the big problem they are the ones that don'there are the ones that don't keep us informed what really is going on
I did not know the definition of a package of bull sh*t is called "a product". Almost gives it a sense of substance, clever fellows these modern thieves.
5-10 million a year? Are you kidding? Compare it to the likes of me who make 18.0$/hr. Compare that to an over worked underpaid teacher or a nurse. This is a crime against humanity
The crazy thing is you’re doing better than a lot of people. I’m fortunate to have a great career but… we shouldn’t have people starving in the wealthiest nation on earth.
Honestly this is to me is core problem with banking, investment and financial world. That sector is supposed to be there to facilitate transactions, loans and investments for other industries and people. But really it's just bubble where people play with money to make money and take absurd slices out of it. It's just pretty absurd that majority of world's money is used to play game of numbers and to pay those players. And to make no mistake, it's a game, and they are turning ever more things to playthings to trade with. Now financial sector is *much* bigger than what you would call real economy. Aka. business of goods, services between other companies and people.
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
@@gavinjameslux it’s interesting at the time I was fixated on the fed and Ron Paul, then Bitcoin came and now it’s going full circle. It was the biggest transfer of wealth in history and now these banks are starting to jump in.
5:15 "Concentration of wealth and power has been built on other people's money, other people's business, other people's labor. Under this concentration, independent business was allowed to exist only on sufferance. It has been a menace to American democracy. - Franklin D. Roosevelt (32nd U.S. president).
"How much are you making?" "I'd really rather not say....but it's more than you would make at most first time jobs." Guiltily takes a sip of water. Yeah, I don't think I made a million dollars at my first job!!
This was such an excellent series. It helped me understand a lot of the issues that I didn’t quite get back in 2008/09 since I was still in high school. I thoroughly enjoyed this. Thank you Frontline!
@@samreynolds3789 NOT with that attitude! It COULD happen if millions and millions of Americans joined arm in arm and marched against WallStreet AND the government to say we wont take this shit anymore from people who are SUPPOSED to represent and work FOR us! Civil disobedience, mass boycotting on a colossal level. NOTHING votes in this country quite like money, and the US people are too lazy and divided, most catastrophically, to realize that we could make a difference if we banded together as we should be doing. Its all fucking depressing.
It's incredible because there are even less safeguards and sound regulations today than prior to the crash. Now The Fed isn't just pumping the banks but corporations too - insane. I used to think just the execs needed to be held accountable, but now I think everyone involved in the machinations of these schemes should be.
I was studying business and international relations. I changed to horticulture and have been working as a professional gardener in botanic gardens for over a decade. I should have stayed in business. Doing the right thing is like taking a vow of poverty. America and capitalism is fundamentally broken.
In city sewer systems, there are blockages that form called "fat bergs." Cooking oil dumped down drains by restaurants and homes solidifies and combines with baby wipes and condoms and human waste to form a solid fatty blockage. I've always felt bad for the city workers that go down there with shovels and remove them. It's a perfect way for corrupt bankers to make restitution.
Investing early can greatly increase the potential for long-term growth. According to a recent study by Vanguard, if an individual invests just $3,000 at age 25, they could have over $500,000 by age 65.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "HEATHER ANN CHRISTENSEN", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
@@AlexanderTurke I was listening to a podcast when I heard a line about taking calculated risks while remaining within your risk threshold that really stuck with me. How can I get in touch with the financial advisor you use?
Thank you so much for these four documentaries. I had a glance from your lense to a broaden world than the one I live in. May this work of yours be for education to the younger generations that will undoubtedly come after us.
"Financialization is the end stage of capitalism." When the majority of the private financial businesses do not contribute to anything actually productive or socially worthwhile. Taxing speculation and high frequency trading would be a good start.
With these 4 parts Michael Kirk and his team created a very fine, understandable, very informative, never boring „diary“ of the Banking crises. Only thing missing: the private character of the Federal Reserve system, which is not Federal nor has it any reserves nor a real system, except keeping the Banksters and their pals afloat at all costs.
From a Truthdig article: Japan has been canceling its debt at the rate of $720 billion (¥80tn) per year. How? By selling the debt to its own central bank, which returns the interest to the government. While most central banks have ended their quantitative easing programs and are planning to sell their federal securities, the Bank of Japan continues to aggressively buy its government’s debt. An interest-free debt owed to oneself that is rolled over from year to year is effectively void. I don't understand finance very well, but this seems a good alternative to what the Federal Reserve is doing to your nation.
In the end, "greed" will take its toll. The most prolific conman in existence can never run a con on a person that is not greedy; what's more that prolific con man will tell you the same thing. Guaranteed.
Wow, so derivatives have no meaningful contribution to society other than to make bankers rich. At least with stocks, the companies benefit with more capital and the investors benefit as part owners of the company. Bonds benefits both the company and the investors as a loan to that company, which helps the company invest and grow itself. Derivatives seem real shady to me.
They mentioned it in episode 1. Farmers have used derivatives for hundreds of years, to lock in a favourable price for their future harvest. If the price of their product rises significantly, they will have missed out on a larger profit. However, if the price of their product falls, they are guaranteed to receive the price they locked in with their derivative.
"Of all the forms of tyranny, the least attractive and most vulgar is the tyranny of mere wealth, the tyranny of plutocracy." - J.P. Morgan (19th Century and early 20th century American financier).
@Denis Bajic The definition of blessing is not something that requires a religious affiliation. Websters Definition of blessing 1: b: APPROVAL, ENCOURAGEMENT
My father is from Cassino and this is the first time I have heard of this and what I interpret here is the naive and inexperienced Cassino public officials with no knowledge whatsoever were like a swimmer bleeding and surrounded by white sharks. To be honest I blame Cassinos public officials. Greetings from Italy
Maybe there will come a time after an even more dramatic and painful crisis, where public opinion and public will, will be enough to overcome the powerful financial lobby. I get the sense that there are real and effective solutions - ones proposed by those that know the inner workings of finance and yet still have the ethics and vision to lead change.
Watched this after the 2008 crash years ago. Now I'm even more infuriated. Both parties are Grifters for Wall Street. Fire them all, and reinstate the Glass Steigle Act. Put Volcker in charge.
@@donthomason8409 government =dishonesty i enjoy truth and always look at both sides and use critical thought to form my own view.....but thank you for your feedback and much love to you and yours.
As good as this series is, and we now have more information and greater understanding of the inner workings, we the consumers will not see any change or improvement from it. It in fact can leave one very frustrated. Sad to see how the values and ethics in America have gone by the wayside. I have absolutely no trust in our politicians, government entities, big corporations etc. Watching this just adds to the frustration I have already have with America. And like our justice system, will do nothing to correct it or improve upon it. Just protect those that have money.
Frontlines is the best! Always thorough and detail oriented. Nowadays, it's sold to Netflix and Hulu or Google for paid documentary series. Frontline should have a field day to docu series this present corrupt administration, starting with 'rotten' congressional days. Keep up the good job!!
The lesson of this video is this: when you write the rules, you can get away with anything. And when you have a complacent, distracted, divided, and docile population that is taxed and fleeced at every opportunity, even better. The recent events aren't any better, either.
Damn... absolutely right. We need a fucking revolution in the US. A joining of forces by the American people, realizing that all those dicks at the top are two sides of the same coin... party politics being the placating, distracting sham that it is. We need mass civil disobedience, boycotts, whatever it takes at an unprecedented level and demand change, not ask for it, demand it.
I love your video at large but i will advice everyone who is into crypto to stick with ETH and BTC as much as you can guys. If everyone sells when it starts to fall, which at one point it will, the dream may be lost because of it being too volatile for companies to get behind.
Imagine being rich, being too lazy and ignorant to come to even the slightest agreement. Let's petition to fire the government or take from their pocket Money is good for only three things : fun, investing, and giving.
Bitcoin trading is great, unlike the stock market and other financial markets, bitcoin has no centralized location, since it operates 24hours a day in different parts of the world.
@@newtonfabregas4389 You are right Bitcoin trading might make you rich if you are hedge fund with deep pockets or an unusual skilled currency trader After a successful investment you have nothing to worry about, whether the rise and fall of economy won't affect you. Make's your future brighter, by making good investment
i would rather be as poor as a church mouse than to look around at "all i had" and know that i had it all by screwing someone else! the term "de-regulation' comes to mind thru out this, which in turn has become a giant free for all for those chosen few. i wonder how "free' they would be if they were using their OWN monies!!!
If you remember nothing else from this part of the documentary, remember this: *The deregulation of Wall Street by Willie J. Clinton paved the way for 2008 and the headaches that the corporate financial industry continues to be today.*
The City of London is there to ensure that banksters are not prosecuted as they would be if they were doing the same things in business in a non-bankster-controlled place like Istambul or Greece or Sicily.
this is journalism at its finest. Thank you Frontline PBS.
Since this doc was made in 2012, NOTHING HAS CHANGED.
A lot has changed. And for the worse. You were not quite right on that.
This is really a top notch documentary. I binge watched the 4 parts in a row and that was great ! Watching this 10 years after makes you realise that sadly, nothing has changed. I had to pause many time and take deep breaths to calm down especially when banks got the money with NO STRINGS ATTACHED, while at the same time so many people/municipalities etc. lost everything... Greed in its ugliest face.
Sadly, we are in a much weaker position now, if something like this blows up again now, it could realistically lead the world into a 2nd great depression because the government doesn't have the same intervention power that they had back then. They do that now and they may end up collapsing the currency.
U mean garbage documentary with a communist agenda. Every verb or adjective they use is dripping with sustain, immorality, guilt. Fake narrative.
My favorite is where in 2018 there was a significant reduction in the Dodd-Frank act... and then Biden takes over and totally ignores the changes even though he was the VP when it was formed... and SVB fails and who gets blamed? Trump.
ALL of these politicians have been playing dangerous games with our lives.
Don't you know America was built on greed?
Nothing has changed in 2023
We are literally still feeling the effects from the economy collapse back then today
i think you're right---along with the fact that everything changed and not for the better. "we" sucked it up----"we" adapted----"we" became the underdogs to the richer and powerful and----look at "us" now....i've never lived in so much uncertainty in all my life! peace.
Keep kicking the can down the road
You are 100% correct. What I found shocking to add to that fact, is that bankers still have their snouts in the trough with over $80bn in bonuses between 2008 and 2021. They have learned nothing, yet we are all still picking up the pieces while they are busy creating the next crash!
Add the expense of Covid to the country. To all countries!
Today we are feeling the effects of creeping totalitarian fascism under the Biden Regime. If you live in the US, did you vote for him?
we need more documentaries like this one. instead of politics, what about economics! LOVE THIS
This is politics lmao. Did you watch the documentary. No regulations for these guys, because they bought the politicians.
When a poor person steals money they go to jail. When a rich person steals money, they're given more money.
Hey that’s the American way!
Oh wait, I meant to say
Hey that’s the Goldman Sach’s way!
I’ve decided to quit my diet and stop exercising in the hope that I will be declared to big to fail. That way everyone else in America will pay my bills and I’ll be given big bonuses as well. Seems like a good plan to me.
In reality if I screw up my finances I have to file for bankruptcy and lose all the nice stuff I bought on credit including my house and car. Then I have to make monthly payments until I pay back an agreed upon amount including the lawyers fees for setting it up for me. Then my credit is supposedly ruined for ten years except at about the 3 year mark I started getting offers for credit cards and car loans all sorts of stuff. Interestingly none of the offers would last past the last day of my bankruptcy lol. Seems they know I can’t file a second time within that ten year span.
Ain’t life grand! Only in America! Lol
Ouch! You obviously watch the mainstream media where they do not show what is happening today around theft. In California, thieves can steal up to $900.0 worth of goods and not be arrested or prosecuted. There are videos showing such thefts in progress, as store personnel and shoppers stand by and watch. There are videos of gangs of thugs entering stores and escaping with bags of goods, everyone looking on. Major stores are leaving jurisdictions that don't prosecute thieves to the detriment of the people and the area. We have just been through a protracted period of street burning, smashing, burning and looting - picking large stores clean - with no consequences for the culprits.
The mindset of Biden Regime supporters is that poor people have a right to steal, because they are unable to purchase the goods themselves.
There are many issues surrounding the banks; however, who are the banks? They are public corporations with thousands of shareholders. If you have a pension, or a mutual fund, or any other kind of savings, you are likely to be one of the owners.
Like the Democrats
@@normamimosa5991 Heard about the news in CALIFORNIA lately.
Honestly speaking, California looting incident news happened in late 1980s was the only one I could remember and the world there calmed down till Biden grandpa. All kinds of canadrum all raised after Biden administration. Even Trump time wasn't that bad at all with few old discrimination issues.
Now California has changed even worse than the time I visited in 90s. The song-- California Dream reflects it's just a dream not feasible for anyone to live with EVEN WORSE high tax rate.
No fun to live in that sunshine coast anymore. Guess only the people there understand this state.
@@normamimosa5991 Heard about the news in CALIFORNIA lately.
Honestly speaking, California looting incident news happened in late 1980s was the only one I could remember and the world there calmed down till Biden grandpa. All kinds of canadrum all raised after Biden administration. Even Trump time wasn't that bad at all with few old discrimination issues.
Now California has changed even worse than the time I visited in 90s. The song-- California Dream reflects it's just a dream not feasible for anyone to live with EVEN WORSE high tax rate.
No fun to live in that sunshine coast anymore. Guess only the people there understand this state.
Frontline is a top notch series all the time. Great programming.
“Lobbyist” was referenced dozens of times throughout the series. Seems a valid investigation topic of its own.
you mean bribery
You mean the root of the problem
I agree, without reservation. Let's have a closer look at these "back room" dealers, shall we? Come on Frontline; if anyone can do it, you can.
THIS
Lobbying is something I think should really be banned. Every time I watch a documentary of something in politics had gone wrong, I hear one fucking word that seems to be behind all the bad decisions that legislators and executive brunch had done that led to catastrophy. That word is: "Lobbyist/Lobbying/Lobby !!!"
19:52 This one sentence, including the laugh at the end, is the perfect summary of this whole serie
IF people really understood 401K is really just another bank product thats not to you advantage and benefits them, the fees rob you of potential wealth.
A little research and work will easily let average joe understand these products. I called a very reputable financial company about a futures contract trading spread i wanted to do and to see if they could support it. They had to transfer me to their “futures expert” and once I asked him, he had no idea. I literally had to explain to him over the phone, how the futures investment would work out and when it clicked he said “ooohhh.. hey.. that’s a REALLY good idea!” which was the point when i realized, oh ‘these big finance people have no clue what they are doing.. I literally know more than they do.’ Since then I NEVER trusted ANY financial advisor or contrived product plan they offered.. I do all my own money management and I trust myself to make more than them. This is all available as a side hobby to anyone with a busy full time job.. but nobody wants to put in the boring work and research. Too bad, the only other alternative is to be taken advantage of
And people are still debating "leftists" vs "right wingers" when the real issue is hidden in plain sight, right at their faces
Now it's AMC and GameStop.
Nancy Pelosi makes $115 million a year!
Now it's the FED versus everybody else.
People debating left and right wing politics in America remind me of Baghdad in 1258, where Arabs were debating whether crow meat was permissible to eat or not while the Mongol hordes stood at the gates of the city.
When it comes to cultural, racial, and social justice - there still is a left and right approach to attempting OR NOT ATTEMPTING TO SOLVE OUR NATION'S PROBLEMS.
"your whole first summer is taken up with... golf lessons and wine tasting - so, you know how to behave in a business environment"
You know a documentary’s good when you have to pause several times to exclaim “Oh my God.”
Or 'what the fuck!'
Brenda took the words out of my mouth. Unbelievable greed.
multiple pauses just to say Wow
You know the general population is completely lost in consumerism and capitalist indoctrination when what they see in documentaries like this is suddenly a shock to learn about the system they live in.
Shocking.. I’m stunned , appalled and shocked. I hate to say, but we aren’t going to learn our lesson until another full blown depression.
I must say this is the type of journalism I appreciate and would gladly sit down to watch I already watched all 3 parts leading up to this and then I realized Hey I think today they're gonna release the final part and little did I know u guys was on Q
So far the documentary has done nothing but protect the bankers and the politicians ask they haven't been truthful with you and told you to hold them story
These are excellent documentaries and are easy to understand by working middle - lower class people like me who have limited understanding of financial/economic terminology yet care for what happens in this country.
This was a top notch documentary. Frontline does some amazing journalism. We need more of this today. People need to learn!
incredible depth, incredible journalism, nothing dumbed down. PBS this 4 part series is a wonderful piece of work.
It is dumbed down actually, but that’s ok, it’s easily digestible for the public and still a good documentary with good information, just not super in depth
12 years later....here we go again
Watched the whole documentary. Even after a decade it is an amazing testimonial to greed and incompetence in government, public policy, and Wall Street recklessness. President Obama and Treasury Secretary Geitner effectively engaged in the American version of the Battle of the Somme. They saved the banks, the bankers, and Wall Street at the cost of millions of homes, jobs, savings, and foregone opportunity. Nothing has changed except it is getting harder for ordinary people. Cost has been transferred to the public sector. The next bankruptcies could be the governments.
All going according to plan.
You're one of those people who just want to find any reason to justify your hatred of Barack Obama. @9:50 Listen to what is being said, not what you want to hear. Bill Clinton removed the last of the Wall Street depression era reforms, and before him, the reigns were steadily loosening. President Obama had a LOT of messes to clean up so that the economy would not fall completely apart.
True unfortunately, nothing has changed
The outcome was Trump.
The problem is also that many of these people, who are in Government Finance positions, who control policy, ARE from Wall Street. So they just look out for Wall Street.
Money is not the root of all evil. It’s the love of money that is the true evil (Greed)💯
Something people always misquote. Great you corrected it.
Nothing evil about greed lol. You can be greedy and fair. You can just work harder bcs of greed. If someone has a lot of money and still works 16hours a day, he is greedy, doesn’t mean he is evil lol.
@@SaraSara-kr6spit's the love of money that is the root of all evil.
This a facinating series of documentory on Finacial crisis of 08, it attracted like a magnet makes me sit down and watched whole 4 espisodes for 4 hours, thank you PBS
It’s September 2021 and I just finished watching all 4 episodes. I would love to see an updated version of this series. Have we learned anything since these were made? Did anyone else get prosecuted or lose their job things like that.
NO ONE!
Check out the movie The Inside Job
THE SATANIC BANKERS NEVER GO TO PRISON
@@davidelmsly5130 : Watch the video again and again until you hear a fraction of the truth and hopefully a fraction of the "lies by omission" from PBS. Can you name the people that this video reveals are in prison.
Nope because shortly after this series GoldmanSachs was caught up in the 1MDB scandal that cost Malaysia billions.
"If you slit our wrists, corporate logos would jump out" hilarious
@15:18 Lol!😄
I love these documentaries
SO MUCH of this problem was LARGELY enabled by dismantling Glass Steagall. I REMEMBER CLEARLY being shocked and appalled at the time. Bill Clinton.
A bank run exposes it all
Clinton did this so Republicans would vote/allow HMO ( which Clinton's next term went away).
Clinton - a pawn of wall street. was worth several hundred million dollars, following his presidency. hahha
Dont forget NAFTA welfare "reform" and vast expansion of the drug war. Oh and bjs from interns in the white house. Total scum.
Clinton 1992 ~ 1996 started the Deregulations, FHA $500 Billion guaranteed loans - Wall Street etc etc! 😁
Glad this was uploaded...nothing has changed.
Great job that was done here great journalism as well having the ability to find the only 3 people in Wall Street that had a conscious and getting them interviewed
A very illuminating documentary which cuts through very deeply into complex world of wall street and then assembles the various facts to bring a very interesting anatomy of the crisis. It should be a requirement for students of banking and financial markets
Typical banker: There's a lot of risk involved with my clients money
Typical banker: It's not my money so what do I care if I lose it all
Client: Please be careful with my money it's my life savings
and conservatives cant figure out why everyone hates them for defending the bankers
@@fkujakedmyname and progressive liberals can't figure out why people don't want a communist welfare state
@@squirrellyboe7421 So we accept a capitalist welfare state instead? The whole "communist" line is designed to end conversations vs open up dialog about better ways to operate.
@@squirrellyboe7421 maybe it would surprise you to find out that progressive liberals also do not want a communist state. Name a single one who has suggested it would be a good idea. You can’t because none have. The republicans have been trying to scare you with this sh!t since McCarthy, and never stopped. Listen to Reagan - that was his whole spiel. Grow up, and let’s try to have a proper discussion, about facts.
Actually that is not reflective of the investment industry. Financial advisors who deal with ordinary customers (versus large institutional clients) are bound by one hard and fast rule, with serious consequences if they deviate from it. The rule is "Know Your Client." In other words know your client's financial situation and risk tolerance and invest his/her money accordingly. Financial advisors also care if they lose a customer's money, as they will lose that client if they do lose money for the client.
It's crazy, the modern world is built on a house of cards. This whole thing can go under at anytime.
Wonderful series. I would love if you could update it. What has happened to the banking system since?
BINGO!
The banking industry has gotten more powerful thanks to the ever growing number of paid-off politicians.
THE BANKING SYSTEM IS SATANIC IT WILL NEVER CHANGE UNTIL THE WORLD END
👍
Episode 5 The banks go under, cryptocurrency takes over
This was a great special it was very hard to put it down and break it up. I couldn’t stop at 3 had to finish it. Stay strong America 🇺🇸🇺🇸
TOO LATE! The 1% and V.Putin , put Trump IN POWER to FINISH USA🇺🇸 OFF ! The WEALTHY can RE-SET & NOT SKIP a Beat !
The thing that burns is that for all this crime no one goes to jail
"Derivatives... Its where the Really BIG Money is made"...... that really stuck with me
This entire series of 4 parts is amazing. It explains the crisis like no one else could.
Michael Burry now tells us in 2021 we are in a bubble 'orders of magnitude' larger than 2007, so I look forward to Frontline explaining it to us in 10 years or so after the coming crash, since no one in media seems to be paying attention to it now.
Where is the great DR Burry ? I have followed his advise, I purchased land with water on it and no one in the foreseeable area to drink it out from under me. I would like to hear what he has to say !!
For the record, I too, am socially awkward.
any government ordering a crash is high on something.
You can be assured that front line won't be telling you the whole story because they are part of the media and the media is the big problem they are the ones that don'there are the ones that don't keep us informed what really is going on
@@SamSitar not if they short it
This is top class journalism. Thanks to PBS and everyone who contributes to Frontline documentaries
Love Frontline, very knowledgeable and forthcoming.
I did not know the definition of a package of bull sh*t is called "a product". Almost gives it a sense of substance, clever fellows these modern thieves.
They are literally two legged shark!! Eats the ones that are helpless!!
@@florabelleantonio8062 candy gram....
Careful they package it and sale and call it a rose.
her face expression at 7:39 says everything regarding money and her salary at the time...
5-10 million a year? Are you kidding? Compare it to the likes of me who make 18.0$/hr. Compare that to an over worked underpaid teacher or a nurse. This is a crime against humanity
The crazy thing is you’re doing better than a lot of people. I’m fortunate to have a great career but… we shouldn’t have people starving in the wealthiest nation on earth.
Honestly this is to me is core problem with banking, investment and financial world. That sector is supposed to be there to facilitate transactions, loans and investments for other industries and people. But really it's just bubble where people play with money to make money and take absurd slices out of it. It's just pretty absurd that majority of world's money is used to play game of numbers and to pay those players. And to make no mistake, it's a game, and they are turning ever more things to playthings to trade with.
Now financial sector is *much* bigger than what you would call real economy. Aka. business of goods, services between other companies and people.
How do you think the politicians become millionaires
The most important thing that should be on everyone's mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies.
How can this person, ROCHELLE DUNGCA-SCHREIBER be reached please...
Wow! I just looked up this person out of curiosity and I'm super impressed with her qualifications. Thanks for sharing.
Fake thread
This has been a fixation of mine since I lived it and then understood it by watching Inside Job...... great documentary
Lived it? How so?
@@fufu3539 Lost money in the financial crisis plus a complete evaporation of my lines of credit leaving me impotent to do business deals or pay bills
@@phillyvoodoo It certainly hit you then. OW
I'm fixated on it too; I'm autistic so..!
@@gavinjameslux it’s interesting at the time I was fixated on the fed and Ron Paul, then Bitcoin came and now it’s going full circle. It was the biggest transfer of wealth in history and now these banks are starting to jump in.
This mini series is incredible, so good.
5:15 "Concentration of wealth and power has been built on other people's money, other people's business, other people's labor. Under this concentration, independent business was allowed to exist only on sufferance. It has been a menace to American democracy. - Franklin D. Roosevelt (32nd U.S. president).
This was never a housing bubble it was a credit bubble.
And it is only bigger now
@@obsculor your right but as I mentioned before that is a credit issue.
A mass bank run ends the charade over night
@@josho6038 mortgages are loans and loans are a form of credit
@@mecthegreat92 who has a mortgage anymore?
"How much are you making?"
"I'd really rather not say....but it's more than you would make at most first time jobs."
Guiltily takes a sip of water.
Yeah, I don't think I made a million dollars at my first job!!
Politicians, people working at Wall St. have no integrity, they're all crooks.
@@minymoe9475 the water suppers are just as guilty as the banks. They participate to try and wash their hands clean.
LOL I agree, it has taken almost all of 40 years to finally top $1M GROSS (Per my annual Social Security Statement Tally) as a typical Joe!
The reason that the woman made the statement you mentioned is because she's afraid someone will find and hurt her, not because of her contract.
@Willow Bark: Absolutely. The guilty sip of water speaks volumes.
This was such an excellent series. It helped me understand a lot of the issues that I didn’t quite get back in 2008/09 since I was still in high school. I thoroughly enjoyed this. Thank you Frontline!
all these people should be jailed.
Hung would be more fitting with a designer Gucci rope
If anyone needed a reason to get dark money out of politics there it is. Support For the People Act!
NOT GONNA HAPPEN !
THE SATANIC WALLSTREET OWNS THE CONGRESS AND THE SENATE !
@@samreynolds3789 NOT with that attitude! It COULD happen if millions and millions of Americans joined arm in arm and marched against WallStreet AND the government to say we wont take this shit anymore from people who are SUPPOSED to represent and work FOR us! Civil disobedience, mass boycotting on a colossal level. NOTHING votes in this country quite like money, and the US people are too lazy and divided, most catastrophically, to realize that we could make a difference if we banded together as we should be doing. Its all fucking depressing.
It's incredible because there are even less safeguards and sound regulations today than prior to the crash. Now The Fed isn't just pumping the banks but corporations too - insane.
I used to think just the execs needed to be held accountable, but now I think everyone involved in the machinations of these schemes should be.
Start prepping now! @ PENSIONER PREPPER
I was studying business and international relations. I changed to horticulture and have been working as a professional gardener in botanic gardens for over a decade. I should have stayed in business. Doing the right thing is like taking a vow of poverty. America and capitalism is fundamentally broken.
would like to sentence them to 100 years hard labour
In city sewer systems, there are blockages that form called "fat bergs." Cooking oil dumped down drains by restaurants and homes solidifies and combines with baby wipes and condoms and human waste to form a solid fatty blockage. I've always felt bad for the city workers that go down there with shovels and remove them. It's a perfect way for corrupt bankers to make restitution.
@@MakerInMotion but don’t give them any tools or food. Make them eat their way out!
I was thinking about Ft Leavenworth they can spend all day making big rocks into little rocks. They can think of them as derivatives lol
capitalism and making an honest living are two diverging concepts! To think otherwise makes us fools!
It's great seeing the laughter in these people's eyes.
Investing early can greatly increase the potential for long-term growth. According to a recent study by Vanguard, if an individual invests just $3,000 at age 25, they could have over $500,000 by age 65.
Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "HEATHER ANN CHRISTENSEN", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
@@AlexanderTurke I was listening to a podcast when I heard a line about taking calculated risks while remaining within your risk threshold that really stuck with me. How can I get in touch with the financial advisor you use?
@@RebeccaBellick Just look her name up on a browser, she's quite popular so it shouldn't be a hassle finding her.
An average of 10 percent yearly return at 3 percent inflation would turn $3000 into $135,000 or so. Not sure how you got 500k.
Wall Street is sleazier and more full of crime than anyone can imagine.
Organized grime.
WALLSTREET IS A SATANIC CULT
Thank you so much for these four documentaries. I had a glance from your lense to a broaden world than the one I live in. May this work of yours be for education to the younger generations that will undoubtedly come after us.
I know a decent amount about finance, and let me say while it is essential, it is currently way oversized in our economy.
Is there anything we can do or demand as American people to change this?
A well put documentary, I enjoyed! Now I'll be waiting for the next one.. when again the housing market bubble will pop
Man I'm so broke with two kids and my girlfriend is in school. 😔 These people make me sick to my stomach.
This reminds me of those documentaries you'd use to watch in elementary school
"Financialization is the end stage of capitalism." When the majority of the private financial businesses do not contribute to anything actually productive or socially worthwhile. Taxing speculation and high frequency trading would be a good start.
To summarize the 4 hour long video
What causes the 2008 crisis ?
GREED
And a global belief that regulations and transparency are bad... (the lobbyist really sold that one in hard with success...)
And it's gonna cause the crisis that's brewing right now and would have bubbled over if the money printer wasn't going 24/7.
Or I haven't heard anything about what really was the big problem and a lesson HA in this segment PB S it's not going to
With these 4 parts Michael Kirk and his team created a very fine, understandable, very informative, never boring „diary“ of the Banking crises.
Only thing missing: the private character of the Federal Reserve system, which is not Federal nor has it any reserves nor a real system, except keeping the Banksters and their pals afloat at all costs.
From a Truthdig article: Japan has been canceling its debt at the rate of $720 billion (¥80tn) per year. How? By selling the debt to its own central bank, which returns the interest to the government. While most central banks have ended their quantitative easing programs and are planning to sell their federal securities, the Bank of Japan continues to aggressively buy its government’s debt. An interest-free debt owed to oneself that is rolled over from year to year is effectively void.
I don't understand finance very well, but this seems a good alternative to what the Federal Reserve is doing to your nation.
One of the best documentary on UA-cam. Great work. Thank you!!
In the end, "greed" will take its toll. The most prolific conman in existence can never run a con on a person that is not greedy; what's more that prolific con man will tell you the same thing. Guaranteed.
*True
yep, individually... that's the 'self check'
Im from Cape Town, South Africa and just love Frontlines documentaries
You get to know USA and I'd love to visit it one day ❤
15:13 bullshit she was making money hand over fist and she knew exactly what she was doing.
Those people are used to double talking others. Also known as BULLSHIT.
Ken Griffin at Citadel needs to start watching at 12:45.
Wow, so derivatives have no meaningful contribution to society other than to make bankers rich. At least with stocks, the companies benefit with more capital and the investors benefit as part owners of the company. Bonds benefits both the company and the investors as a loan to that company, which helps the company invest and grow itself. Derivatives seem real shady to me.
They mentioned it in episode 1. Farmers have used derivatives for hundreds of years, to lock in a favourable price for their future harvest. If the price of their product rises significantly, they will have missed out on a larger profit. However, if the price of their product falls, they are guaranteed to receive the price they locked in with their derivative.
"Of all the forms of tyranny, the least attractive and most vulgar is the tyranny of mere wealth, the tyranny of plutocracy." - J.P. Morgan (19th Century and early 20th century American financier).
Who’s watching in December 2021
Really good documentary - explained a lot of things I didn't understand in ways that made sense.
Blessings to the former employees trying to push back and reform this mess.
@Denis Bajic The definition of blessing is not something that requires a religious affiliation.
Websters Definition of blessing
1:
b: APPROVAL, ENCOURAGEMENT
@Denis Bajic Christianity is not a nationality as far as I am aware.
My father is from Cassino and this is the first time I have heard of this and what I interpret here is the naive and inexperienced Cassino public officials with no knowledge whatsoever were like a swimmer bleeding and surrounded by white sharks. To be honest I blame Cassinos public officials.
Greetings from Italy
Maybe there will come a time after an even more dramatic and painful crisis, where public opinion and public will, will be enough to overcome the powerful financial lobby. I get the sense that there are real and effective solutions - ones proposed by those that know the inner workings of finance and yet still have the ethics and vision to lead change.
Watched this after the 2008
crash years ago. Now I'm even more infuriated.
Both parties are Grifters for Wall Street.
Fire them all, and reinstate the Glass Steigle Act. Put Volcker in charge.
thank you for this series......i love truth......i love frontline and have always loved pbs.
Pbs has agendas just like every other persuasive entity. Don't be fooled
Truly if you think this is true you don't know a damn thing about this government
@@donthomason8409 government =dishonesty i enjoy truth and always look at both sides and use critical thought to form my own view.....but thank you for your feedback and much love to you and yours.
Notice the smiles when ask how much you guys make
All “good” things will come to an end. Brace yourselves. Those guilty will have eternity to ponder their decisions. 🔥 awaits.
Not sure how many times I listened to this now. I won’t ever forget this era of time. I wish I had a pizza
Does this mean it’s less risky to be ripped off if we invest in drugs and drug selling versus giving our money to the criminals in suits?
Street drugs costs never inflate, what cost for a bag of weed 20 years ago is the same price as today
what the world needs is more "financial innovation"
The best liner was ..."Nobody know how a system works"
Amazing series! Very well done and informative. Thank you!
As good as this series is, and we now have more information and greater understanding of the inner workings, we the consumers will not see any change or improvement from it. It in fact can leave one very frustrated. Sad to see how the values and ethics in America have gone by the wayside. I have absolutely no trust in our politicians, government entities, big corporations etc. Watching this just adds to the frustration I have already have with America. And like our justice system, will do nothing to correct it or improve upon it. Just protect those that have money.
Frontlines is the best! Always
thorough and detail oriented.
Nowadays, it's sold to Netflix
and Hulu or Google for paid
documentary series.
Frontline should have a field
day to docu series this present
corrupt administration, starting
with 'rotten' congressional days. Keep up the good job!!
The lesson of this video is this: when you write the rules, you can get away with anything. And when you have a complacent, distracted, divided, and docile population that is taxed and fleeced at every opportunity, even better.
The recent events aren't any better, either.
Damn... absolutely right. We need a fucking revolution in the US. A joining of forces by the American people, realizing that all those dicks at the top are two sides of the same coin... party politics being the placating, distracting sham that it is. We need mass civil disobedience, boycotts, whatever it takes at an unprecedented level and demand change, not ask for it, demand it.
Talking about organized crimes and criminal enterprise, here is the ultimate one of global scale
2008 will be a cake walk compared to what is coming.
nothing is going to change. it never does.
I love your video at large but i will advice everyone who is into crypto to stick with ETH and BTC as much as you can guys. If everyone sells when it starts to fall, which at one point it will, the dream may be lost because of it being too volatile for companies to get behind.
Imagine being rich, being too lazy and ignorant to come to even the slightest agreement. Let's petition to fire the government or take from their pocket Money is good for only three things : fun, investing, and giving.
@@hassanzackir3949 The government don't care about us, that's why i always advice people to invest.
Bitcoin trading is great, unlike the stock market and other financial markets, bitcoin has no centralized location, since it operates 24hours a day in different parts of the world.
@@newtonfabregas4389 You are right Bitcoin trading might make you rich if you are hedge fund with deep pockets or an unusual skilled currency trader After a successful investment you have nothing to worry about, whether the rise and fall of economy won't affect you. Make's your future brighter, by making good investment
I think Bitcoin is the future, Investing in it now will be the wisest thing to do especially with the current rise Nothing ever changes.
It's sad to see these destroyed communities.
This is my first time watching this documentary Wall Street Documentary Part Four. For real everyone. Yes. Facts. Believe it.
i would rather be as poor as a church mouse than to look around at "all i had" and know that i had it all by screwing someone else! the term "de-regulation' comes to mind thru out this, which in turn has become a giant free for all for those chosen few. i wonder how "free' they would be if they were using their OWN monies!!!
This series has been phenomenal
"...especially for young people, it was a lot of money..." Bruh, weren't you using retirement money? Money that couldn't scratch your previous salary.
If you remember nothing else from this part of the documentary, remember this:
*The deregulation of Wall Street by Willie J. Clinton paved the way for 2008 and the headaches that the corporate financial industry continues to be today.*
The City of London is there to ensure that banksters are not prosecuted as they would be if they were doing the same things in business in a non-bankster-controlled place like Istambul or Greece or Sicily.
lots of action in Singapore and Dubai these days as well.
🙀
What Pakistan is to terrorists, London is to billionaires.