A long ass documentary chronicling the financial crisis.
Meltdown – The Secret History of The Global Financial Crisis is a 4 part playlist that you can watch entirely on VizTV (and you better or we will consume your offspring) so grab your lunch, and the kids, because this bad boy seems to be around 3 hours in length. Don’t forget to like our Facebook page!
The Secret History of The Global Financial Crisis
What we had to say after sacrificing sleep to watch this educational drama;
- The government feared Federal Reserve chairman Alan Greenspan. We can’t be completely sure this fear was due to his beauty, or his powerful ears.
- The overly dramatic narrator kicks ass. He called this mess a financial orgy. Seriously? A financial orgasm? AWESOMENESS! I swear I have to keep reminding myself this isn’t from the Onion.
- Henry Paulson was the defacto President of The United States, as well as any Treasury Secretary or more importantly, Federal Reserve Chairman.
- Trillions of dollars worth of wealth was transferred during the 2008 financial meltdown.
- The most complex mortgages were sold to the least sophisticated which also lead to the financial crisis.
- Angelo Mozilo (Countrywide Financial), The Golden Boy, was covered. He almost had me believing in David Van Icke’s lizard people. Anyway, Countrywide was sold to Bank of America, then it collapsed. Angelo Mozilo knew the mortgage securities were worthless. Mozilo was charged by the SEC for insider trading and securities fraud.
- There was never any concern for a borrowers ability to pay back sub-prime mortgage loans because all the mortgage loans were packaged and sold to Wall Street as complex financial securities.
- They main hustle in the financial crisis/mortgage scam was fees. Fees and immediate profit were the main objective.
It also appears that another catalyst for the financial collapse was New York’s hunger for being titled the financial capital of the world, versus London A.K.A . “The City”.