Meltdown: Started August 2007, Ending …?




Alarms shrilled out in Paris in August 2007 after France’s BNP Paribas disclosed its vast investment funds were filled with worthless toxic securities fed by the sub-prime scam and US mortgage fraud. 

Christine legarde then French finance Minister discuses the 2007 BNP decision

Christine Lagarde, then French Finance Minister discuses the 2007 BNP decision

The resulting financial meltdown damaged millions of lives, is still reverberating and has drained global economies. The move by BNP —  then the largest bank in the world in terms of assets — came just 13 months ahead of the dramatic 2am bankruptcy of Lehman Brothers, which triggered a world wide tsunami that wiped out the economic futures of entire countries.  The debris from this disaster is still plaguing Europe as manifested in the unresolved  sovereign debt crisis.

As some economists urge investors to prepare for the next global financial collapse this four-part CBC documentary — first released in 2011 — offers a stark reminder of what lies behind the worst economic crisis since 1929 and a warning of what may lie ahead.

Meltdown: The Secret History of the Global Financial Collapse in four parts. Watch all four videos on You Tube here:

Click this image to watch all four parts of this series on Yiu Tube

Click this image to watch all four parts of this series on You Tube

The Canadian TV network’s film blurb says: “Doc Zone has traveled the world – from Wall Street to Dubai to China – to investigate The Secret History of the Global Financial Collapse. Meltdown is the story of the bankers who crashed the world, the leaders who struggled to save it and the ordinary families who got crushed.”

Watching it may help families from being crushed again as criminal financiers continue their rampaging thanks to light touch regulations introduced by captured politicians such the UK’s then Labour chancellor (Minister of Finance) Gordon Brown (below):

Brown (centre) the misguided author of light touch financial regulation

Brown (centre) the misguided author of light touch financial regulation

Enhanced by Zemanta



Related Posts Plugin for WordPress, Blogger...

If you enjoyed this post, make sure you subscribe to our RSS feed!

You must be logged in to post a comment Login