Inside the Meltdown – Sub Prime Mortgages and The Housing Bubble

Posted on 04/16/2020
13 views

The first of a four-part investigation into a world of greed and recklessness that led to financial collapse. 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. Lack of government regulation and easy lending in the US housing market meant anyone could qualify for a home loan with little to no government regulation or oversight in place. Hedge funds created demand for mortgage-backed securities by pairing them with guarantees called credit default swaps. When interest rates were raised those with adjustable-rate mortgages couldn’t make these higher payments. Demand fell, and so did housing prices. When they couldn’t sell their homes they defaulted. No one could price, or sell, the now-worthless mortgage-backed securities.

Comment via Facebook

Disclaimer: The information contained in the video content posted represents the views and opinions of the original creators of such Video Content and does not necessarily represent the views or opinions of The Published Reporter. The mere appearance of video content on the Site does not constitute an endorsement by The Published Reporter of such video content. The video content has been made available for informational and educational purposes only. The Published Reporter does not make any representation or warranties with respect to the accuracy, applicability, fitness, or completeness of the video content. The Published Reporter does not warrant the performance, effectiveness or applicability of any sites listed or linked to in any video content. The Video Content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you have read or seen on the Site. The Published Reporter hereby disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of the video content, which is provided as is, and without warranties. For more information on our editorial policies please view our terms of service.

You may also like

Page 1 of 2


PALM BEACH WEATHER