Panic: The Untold Story of the 2008 Financial Crisis

  • Published 2 years ago
  • 1

The financial crisis of 2007-2008 is also known as the global financial crisis. It was a severe worldwide economic crisis considered by many the most serious financial crisis since the Great Depression of the 1930s.

The crisis began in 2007 in the subprime mortgage market in the United States. From there, it developed into a full-blown international banking crisis. It led to the collapse of the investment bank Lehman Brothers on September 15, 2008. The crisis was then followed by a global economic downturn, called the Great Recession.

The crisis was primarily caused by deregulation in the financial industry. This permitted bans to engage in hedge fund trading with derivatives. But banks demanded more mortgages to support he profitable sale of these derivatives, creating a financial crisis.

The documentary looks at all the factors that led to the crisis, as well as efforts by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse.

From Around the Web

Related Videos

A supply chain is a network of individuals and companies who are involved in a creating a product and delivering it to the customer.It begins with the sourcing of raw materials, wh...

  • 107
  • 1 week ago
  • Not Rated

A growing debt crisis, dwindling forex reserves and soaring inflation have pushed Pakistan to the brink of an economic disaster.These were some of the factors which contributed to ...

  • 144
  • 3 weeks ago
  • Not Rated

Sri Lanka, formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an island country in South Asia. It lies in the Indian Ocean, southwest of the...

  • 164
  • 3 weeks ago
  • Not Rated

Despite separating from Somalia over 20 years ago, the state of Somaliland is still unrecognized by the rest of the world. Life here is hard.The popular series Dicing with Death br...

  • 163
  • 4 weeks ago
  • 7(1)
Avatar

4,752 Videos / 17,341,698 Views
Tags

Related Articles
Her calling card was her robe de style dress. This gown hung straight and narrow on the torso, but then ballooned out wi...
  • 2,432
  • 2 years ago
Escondida produces more than 1 million tons of copper per year, which is about 5% of the global production. That is even...
  • 3,478
  • 2 years ago
At the peak of his fortune, Jesse had a net worth of $100 million. That was back in 1929. In today’s money, that would...
  • 3,646
  • 2 years ago
The term first appeared in the early 1970s. The origin of the term can be found in the word “kacho-byo”, which trans...
  • 4,001
  • 2 years ago