How a Man With a Grudge Single-Handedly Caused the 2008 Financial Crisis

#TuckerCarlson #JeffreySachs #TCN #NewYork #bank #financialcrisis #UnitedStates #HankPaulson #housingmarket #CIA #debt #money #podcast #news #interview

[MrSillyFun]

Hank Paulson is now worth $700 million! Crime REALLY pays!!!

[mikea]

It’s not incompetence, it’s CORRUPTION.

[mackmcmillan]

Took me YEARS upon YEARS upon YEARS to recover from that housing bust. Coming back from my tour in Korea with no way to sell my house as I had orders to a different location than I had left from... MFer damn near ruined my life. And mine wasn't THAT bad. I can only imagine how horrible it was for others.

[vulpo]

Please note that the Great Depression did not end when FDR took office and made his "the only thing we have to fear speech, " as Sachs would have you believe. It continued on through all of FDR's first two terms as President and only ended with the explosion in industrial production caused by WWII. It was, in fact, unnecessarily prolonged by the socialist policies of FDR.

[ellekewilms]

paulson didnt cause the crash, his decision not to save Lehman and the ensuing crash was only the effect. The financial system is rotten to the core, that much came to the surface as a result! It would be very beneficial to interview Richard Webber on the whole scam, which has never been resolved!

[SCBeatty]

This video desperately needs a rebuttal. I'm glad this guy is making a brand for himself with his tripe, but it just doesn't hold up to any scrutiny from any direction with what we know now.

[steveschultz]

And Roosevelt prolonged the depression for another 7 years.

[Metalsmithnna]

Such disregard for so many people devastated by this.

[pattiRMCVR]

2008 2009 2010.. was a literal bloodbath for anyone and Everyone in the housing industry! Horid.. took 12 yrs to recover in many many places

[gl]

So why is Jeffrey Sachs pinning the 2008 crisis on Paulson, and not on Ben Bernanke, who was Chair of the Fed, at the time? The Fed exists for the very purpose of preventing panics, after all. It's easy for him to pin this on Paulson, but the actual problem was the instability of financial institutions, which was caused by them holding too many risky mortgage-related assets, and then creating esoteric financial vehicles that would mitigate their risk. Given that instability, blaming the random thing that set it off is a little misdirected. The underlying problem was almost entirely created by the Federal Government, which forced mortgage lenders to give home loans to risky borrowers that it wouldn't have given them to, otherwise. Specifically, Bill Clinton set a goal of 70% home ownership, and pushed lenders, hard, to issue the loans that would get him there. Certainly, it wasn't all Clinton's fault, but he owns a big part of it. The Government has a long history of interfering in the lending market and we'd likely all be better off if they didn't.

[jhost]

Would like to hear him and Ron Paul or Peter Schiff have a discussion.

I think Ron Paul’s economic understanding would treat Jeffrey Sachs well.

[digzat]

My Father lost 300, 000 dollars because of this. I remember him telling me that he had worked all his life to retire comfortably. He had an investment planner and a portfolio that was very good for any working person. He told me that his investment in stocks should have been moved and he trusted his advice from his planner. It was horrible and I will never forget it. Luckily he had more set aside. I pride myself in his wisdom and to think that his money was vaporized that quick sickens me

[frankstipes]

I absolutely believe that!!!!
Poulson killed Leahman!!!!
He was absolutely

[SOG]

Banks shouldn't get a cent of public money

[unclej]

They bought junk mortgages. They deserved to lose their banks. A coworker asked a good question, if the debt was what it was, why not just help the people who were buying the houses so they could keep them and the stupid banks wouldn't get bailed out AND foreclose on their customers?

[JohnMinehan-lxts]

They did not WANT to save the bank, they wanted the banking sector to stabilize. very likely it would have been worse if papered over more than it was.

I'm a nobody but I discussed it with Charles Gasperino in a public forum at the time. People were fairly aware of it.

[JRay]

Okay… this is a gross simplification of EVERYTHING that happened leading up to the Great Recession. But the grudge may add some color to the situation.

[wildbillwilmoth]

I thought it was because barclays and the UK security regulator was risk adverse because the contagion was potentially going to spread. They wanted to keep the crisis away from the uk. This was before it spread to every nation and became a global financial crisis.

[christopherscott]

This should have so many more brows than it does.

[samuelforsyth]

Paulson's book 'on the brink' is a joke, he makes out like he had no choice