Here's Who Really Caused the Great Recession

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#GreatRecession #2008 #History

[zhangyaxing]

Everything's risky, unless you have insurance . . . until that insurance means nothing.

[Manwalkerinpark]

And no one from AIG went to jail for fraud.

[ayblackie]

🤦 Steal a piece of bread ... Go to jail.
🤦Crash the global economy so that people lose their life savings ... You get millions of dollars in bonuses and a bailout.

[jde]

finally got my youtuber’s PhD in business and economics

[David_Me]

"So, we are ready to sell you five million worth of credit defaut swaps."
"Can we make it a hundred million?"
"Absolutely we can make it a hundred million."

[AO]

Dude i was a clueless 10 year old back then

[SimianEncounter]

Just nine years later I feel like many don't realise we're still living in the shadow of this recession, and the system that caused it continues to dictate the state of our politics today

[pupperemeritus]

2008: stonks down
2020: there is another

[sirwolfnsuch]

AIG did what it did because the Big Four of auditing allowed it to. It wasn't just one company that was rotten, it's the entire system, because the Big Four then are still the Big Four today

[angelaphsiao]

It must be good to be an executive. If things are going well, you get a bonus for good performance. If things are going poorly, you get a bonus as an incentive.

[trysometruth]

I lived through the Great Recession as a home owner and barely made it through it, I watched some documentaries on it, and I watched the popular and very entertaining movies focused on it. So, like most, I'd heard the buzz-words of Collateralized Debt Obligations and Credit Default Swaps many times. But *this video* really truly made all of it make so much more sense to me. I'm glad I watched it.

[ZubinB]

"AIG was too big to fail so the Govt. had to bail them out."

And this is why we need decentralisation.

[nstyle]

drinking game, take a swig every time his accent changes country

[Admiralex]

Person with money: "I like to risk my money."
Me: "bruh"

[BusinessCasual]

Get your free copy of "Fatal Risk" from Audible, in addition to a free 30-day trial!

[SIMPLEHECHO]

My Wife: you’re risking too much money buying lottery tickets.

AIG execs: Hold my beer.

[RocketPropelledMexican]

If you want the finance industry to be de-regulated, fine. But don't come screaming for bailouts or bankruptcy protection if you fail.

[norcalreppin]

Janet Reno. Tied mortgages to international bonds market and then bullied the banks to give mortgages to people who could not afford them.

[LuisVargas-ihvm]

'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

[seasong]

2:00 Heres a little lesson in trickery, buy a CDO insurance policy