Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Tams

The Men Who Crashed the World

Recommended Posts

In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.

 

The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.

 

But how did it all go so wrong?

 

Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.

 

Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.

 

All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.

 

201191411541104734_20.jpg

 

http://english.aljazeera.net/programmes/meltdown/2011/09/2011914105518615434.html

Share this post


Link to post
Share on other sites

… this is part of and indistinguishable from the huge global ‘story’ being made up…something’s fishy … for example re the mortgage crisis, some say it was “regulation” (in a way the prevailing paradigms won’t permit and prevailing‘story’ doesn’t allow us to categorize as ‘regulation’, of course) that literally forced lenders into making questionable loans…the real story started way before these ‘four men’ were even born. Any ‘story’ that packs this ‘story’ into the actions of a few and into 10 – 20 years is just a misguided ( or worse, a misleading) ‘story’…

Share this post


Link to post
Share on other sites

Can we please close this thread and file it away under "propaganda"? I'm disappointed that the moderators of this thread would headline the newsletter with this crap. Some of those who "crashed the world" are still in power, and some of those who tried to stop it are blamed. Give me a break.

Share this post


Link to post
Share on other sites

This is definitely propaganda.

 

Take a look at coherent government policy over the last 40 years that made individual households so financially weak that people could not pay their mortgages, coupled with a coherent public policy that made sure that "everyone should have a house" whether they could afford it or not, with the full faith and credit backing of yours truly the Federal Gov't, in case people defaulted on their loans. And of course, this is exactly what happened. And then people have the audacity to be surprised when there is a mass default.

 

The problem is both social and systemic. You cannot tear apart the fabric of society without also effecting its financial structure.

 

It is not Wall Street's fault, and is most certainly NOT four sole individuals. This is nothing but leftist propaganda.

Share this post


Link to post
Share on other sites

Yes, please file this thread under propaganda. The "who's" who did all the poo-poo'ing ought to be pretty clear by all this time. Very sadly they are still allowed to spread their droppings all over the place.

Share this post


Link to post
Share on other sites
Some of those who "crashed the world" are still in power, and some of those who tried to stop it are blamed.

 

First of all, I didn't watch the video, so I'm not commenting on the video. But it's an interesting subject. Do you have any information about those who are still in power? Just curious.

Share this post


Link to post
Share on other sites

[quote name=Originally Posted by joshdance »

Some of those who "crashed the world" are still in power, and some of those who tried to stop it are blamed.[/quote]

 

I didn't watch the video either... but searches on both Brooksley E. Born and Raghuram Rajan will bring up good info on how they tried to warn of he impending risk prior to 2008 and were shunned by those in the establishment with more power.

Share this post


Link to post
Share on other sites
Can we please close this thread and file it away under "propaganda"? I'm disappointed that the moderators of this thread would headline the newsletter with this crap.

 

I COULDN'T AGREE MORE!

 

Notice the web address, No bias there!

"http://english/.aljazeera.net"

 

4 guys? Really? What about the hundred of thousands of people who lied when they took out those mortgages and said "yea I can afford that" and "absolutely yes I promise to pay you back"? What about the thousands of lenders, developers, real estate agents, brokers and sales people that said "don't worry I'll show you how you can buy it with NO money down" and "don't worry the price of houses always goes up, if you can't afford it you can roll it over in a year or so to one you can afford"

 

Liars lying to people who put profits before ethics and common sense.

 

Or how about Freddy and Fannie's role in guaranteeing those mortgages so that the bankers could bundle them and sell them as "A" rated loans, and then not being able to cover them?

 

I wish it was only FOUR guys that did something unethical. We would just punish them and be done with it.

 

But it's not. Its the millions of people from main street to wall street trying to find a short cut to wealth.

 

This is pure politically biased junk that has NOTHING to do with trading. How about we leave the political BS to a political site!!!!! I want to come here to learn and share about investing and trading not politics. We don't need that bias, America bashing crap here. If I want to read that I'll go to "http://english/.aljazeera.net"

Share this post


Link to post
Share on other sites
I COULDN'T AGREE MORE!

 

Notice the web address, No bias there!

"http://english/.aljazeera.net"

 

4 guys? Really? What about the hundred of thousands of people who lied when they took out those mortgages and said "yea I can afford that" and "absolutely yes I promise to pay you back"? What about the thousands of lenders, developers, real estate agents, brokers and sales people that said "don't worry I'll show you how you can buy it with NO money down" and "don't worry the price of houses always goes up, if you can't afford it you can roll it over in a year or so to one you can afford"

 

Liars lying to people who put profits before ethics and common sense.

 

Or how about Freddy and Fannie's role in guaranteeing those mortgages so that the bankers could bundle them and sell them as "A" rated loans, and then not being able to cover them?

 

I wish it was only FOUR guys that did something unethical. We would just punish them and be done with it.

 

But it's not. Its the millions of people from main street to wall street trying to find a short cut to wealth.

 

This is pure politically biased junk that has NOTHING to do with trading. How about we leave the political BS to a political site!!!!! I want to come here to learn and share about investing and trading not politics. We don't need that bias, America bashing crap here. If I want to read that I'll go to "http://english/.aljazeera.net"

 

 

Do you really think that hundreds of thousands of people walked into mortgage brokerage offices and lied or could it be that mortgage brokers advertized $750,000 loans at $1200 a month in poor neighborhoods? Could it be that when a borrower wondered if he would qualify for the loan, the broker said, don't worry about it, you don't need to show income or assets to get the loan. A lot of these borrowers were people who never owned a home before. Its called predatory lending.

 

Lenders hired unskilled and unqualified brokers to sell mortgages that were unstable to people who could not understand them.

 

By chance during the same time period, a few investment banks were speculating in CDS without understanding them and we, the people of the USA, immediately helped them out. So that they wouldn't lose their banks, jobs, or houses.

Share this post


Link to post
Share on other sites
I want to come here to learn and share about investing and trading not politics.

 

I haven't watched the video so I'm not endorsing anything.

 

But discussing investment strategies in the current environment without at least a certain degree of consciousness of events that brought us here seems an exercise in futility to me. Maybe you'd be better off trying another venture, riches galore await the bold.

Share this post


Link to post
Share on other sites
What about the hundred of thousands of people who lied when they took out those mortgages and said "yea I can afford that"

 

A lot of people loosing their homes, lost their jobs. They were paying their mortgage when they had a job. There are people who took out mortgages years before all these recent loans got pushed through who are loosing their homes.

Share this post


Link to post
Share on other sites

the financial system needs a re-work.

 

too many unscrupulous people doing the legal robbery. This has to stop.

 

I hope the wall street protest will bring about some changes.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • Date: 8th April 2025.   Markets Rebound Cautiously as US-China Tariff Tensions Deepen     Global markets staged a tentative recovery on Tuesday following a wave of volatility sparked by escalating trade tensions between the United States and China. The Asia-Pacific region showed signs of stability after a chaotic start to the week—though some pockets remained under pressure. Taiwan’s Taiex dropped 4.4%, dragged lower by losses in tech heavyweight TSMC. The world’s largest chipmaker fell another 4% on Tuesday and has now slumped 13.5% since April 2, when US President Donald Trump first unveiled what he called ‘Liberation Day’ tariffs.   However, broader sentiment across the region turned more positive, with several markets rebounding sharply after Monday’s dramatic sell-offs. Japan’s Nikkei 225 surged over 6% in early trading, rebounding from an 18-month low. South Korea’s Kospi rose marginally, and Australia’s ASX 200 gained 1.9%, driven by strength in mining stocks. Hong Kong’s Hang Seng rose 1.6%, though still far from recovering from Monday’s 13.2% crash—its worst day since the 1997 Asian financial crisis. China’s Shanghai Composite added 0.9%.   In Europe, DAX and FTSE 100 are up more than 1% in opening trade. EU Commission President von der Leyen repeated yesterday that the EU had offered reciprocal zero tariffs on manufactured goods previously and continues to stand by that offer. Others are also trying again to talk to Trump to get some sort of agreement that limits the impact.   Much of the rally appeared to be driven by dip-buying, as well as hopes that the intensifying trade war could still be defused through negotiations.   China Strikes Back: ‘We Will Fight to the End’   Tensions reached a boiling point after Trump threatened to impose an additional 50% tariff on all Chinese imports unless Beijing rolled back its retaliatory measures by April 8. ‘If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow... the United States will impose additional tariffs on China of 50%,’ Trump declared on social media.   If implemented, the new tariffs would bring total US duties on Chinese goods to a staggering 124%, factoring in the existing 20%, the 34% recently announced, and the proposed 50%.   In response, China’s Ministry of Commerce issued a stern warning, stating: ‘The US threat to escalate tariffs is a mistake on top of a mistake... If the US insists on its own way, China will fight to the end.’ The ministry also called for equal and respectful dialogue, though signs of compromise on either side remain scarce.   Beijing acted quickly to contain a market fallout. State funds intervened to support equities, and the People’s Bank of China set the yuan fixing at its weakest level since September 2023 to boost export competitiveness. Additionally, five-year interest rate swaps in China fell to their lowest levels since 2020, indicating potential for further monetary easing.   Trump Talks Tough on EU Too   Trump’s hardline approach extended beyond China. Speaking at a press conference, he rejected the European Union’s offer to eliminate tariffs on cars and industrial goods, accusing the bloc of ‘being very bad to us.’ He insisted that Europe would need to source its energy from the US, claiming the US could ‘knock off $350 billion in one week.’   The EU, meanwhile, backed away from a proposed 50% retaliatory tariff on American whiskey, opting instead for 25% duties on selected US goods in response to Trump’s steel and aluminium tariffs.     Volatile Wall Street Adds to the Drama   Wall Street experienced wild swings on Monday as investors processed the rapidly evolving trade conflict. The S&P 500 briefly fell 4.7% before rebounding 3.4%, nearly erasing its losses in what could have been its biggest one-day jump in years—if it had held. The Dow Jones Industrial Average sank by as much as 1,700 points early in the day but later climbed nearly 900 points before closing 349 points lower, down 0.9%. The Nasdaq ended up 0.1%.   The brief rally was fueled by a false rumour that Trump was considering a 90-day pause on tariffs—rumours that the White House quickly labelled ‘fake news.’ The market's sharp reaction underscored how desperate investors are for any sign that tensions might ease.   Oil Markets in Focus: Goldman Sachs Revises Forecasts   Crude prices also reflected the uncertainty, with US crude briefly dipping below $60 per barrel for the first time since 2021. As of early Tuesday, Brent crude was trading at $64.72, while WTI hovered around $61.26.   Goldman Sachs, in a note dated April 7, lowered its average price forecasts for Brent and WTI through 2025 and 2026, citing mounting recession risks and the potential for higher-than-expected supply from OPEC+.       Under a base-case scenario where the US avoids a recession and tariffs are reduced significantly before the April 9 implementation date, Goldman sees Brent at $62 per barrel and WTI at $58 by December 2025. These figures fall further to $55 and $51, respectively, by the end of 2026. This outlook also assumes moderate output increases from eight OPEC+ countries, with incremental boosts of 130,000–140,000 barrels per day in June and July.   However, should the US slip into a typical recession and OPEC production aligns with the bank’s baseline assumptions, Brent could retreat to $58 by the end of this year and to $50 by December 2026.   In a more bearish scenario involving a global GDP slowdown and no change to OPEC+ output levels, Brent prices might fall to $54 by year-end and $45 by late 2026. The most extreme projection—based on a simultaneous economic downturn and a full reversal of OPEC+ production cuts—would see Brent plunge to below $40 per barrel by the end of 2026.   Goldman noted that oil prices could outperform forecasts significantly if there was a dramatic shift in tariff policy and a surprise in global demand recovery.   Cautious Optimism, But Warnings Persist   With both Washington and Beijing showing no signs of backing down, markets are likely to remain volatile in the days ahead. Investors now turn their attention to upcoming trade meetings and policy decisions, hoping for clarity in what has become one of the most unpredictable trading environments in recent years.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • CVNA Carvana stock watch, rebound to 166.56 support area at https://stockconsultant.com/?CVNA
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.