The Great Banking Collapse of 2008

gettyimages_99988261The buying and selling of Collateralized debt obligation and credit default swaps that were derivatives arising from selling sub-prime mortgages and lending without ‘loss’ – this story tells the beginning and the effect of the world financial disaster that arose out of deregulation of the financial markets in the US that started in the 80s and ended with global financial collapse in 2008 – Britain is still suffering from this today. All the major banks and investment groups involved – Goldman Sachs, JP Morgan, Citigroup, AIG, and Larry Summers, Alan Greenspan, Ben Bernanke, Robert Rubin and Henry Paulson refused to take part in explaining the collapse in this movie.20081006_fuld_250x375

Britain now has a national debt of £1.6 Trillion growing at £5,170 per second and a national budget deficit of £170 billion yearly presently.

800 larry summers2

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