The Economy’s Cuban Missile Crisis

In 2008 a global financial meltdown was just barely contained. But Adam Tooze says that the crisis of confidence has had long aftershocks.
Adam Tooze, Columbia University historian and author of the new book Crashed: How a Decade of Financial Crises Changes the World, talks to INET President Rob Johnson about what precipitated the 2008 crisis, and its ongoing affects.

[@kumonetta]

Thank you!

[@jameslovering9158]

We understand why it happened we don't understand why it was made worse and continues today. Bankers have ultimate power over politicians it seems.

[@ronkrate609]

Not enough people are voting their economic interest. Reps are able to hold down the vote, and Americans vote less than many other countries. And, in a country where California has as many senators as Montana and there's an electoral college .......

[@realisticallyspeaking9196]

Would at Tobin tax to slow international financial transfers help?

[@ronkrate609]

I'd like to hear Bob Kutner's views if he's still living.

[@Noland55]

It was just another bubble. Not a fault of the system but government policy (still current) that housing is another entitlement.

[@realisticallyspeaking9196]

Toovy suggests a stronger European Union but that would make the risks greater for the future as well as ossify the financial arteries of Europe

[@MDC2020]

How would you short US Consumer Debt?

[@ST-fk3jz]

Short visa maybe or a financial company exposed to auto loans

[@schlangenbiss1]

Instead of the wealth flowing to Wall Street and Billionaires, employees should receive a much larger share of the profits.

[@johnj3636]

Brands-Anything that’s overvalued and in the Mid-High teirs

[@Noland55]

So, just a liquidity crisis.

[@lanadellhatestheclock3325]

At about 7 minutes in he mentions fractional reserve lending - which no longer exists.
There certainly are other good points here.

[@thejehy_]

Fractional reserve banking most definitely still exists.

[@thephoenix756]

@@thejehy_
No, it doesn't

[@ajoydatta8606]

😭😭😭😭😭😭😭

[@marsmotion]

greed run amok!