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Panic: The Untold Story of the 2008 Financial Crisis (Patreon)

Published:
2025-05-20 01:31:07
Imported:
2026-06

Content

Note: This is an HBO Documentary that has been removed from MAX. It was only available on YouTube, which had commercials. So, since this is: 1. Available from HBO for free on YouTube, and 2. the commercials would never be consistent for synced viewing, we are sharing the entire video unedited and you won't have to sync for a watch-along.

Comments

TalynOne

Thanks for the reaction! The part that was really sobering for me was just how unprepared McCain was for that meeting. Reminded me a bit of difference between a person of substance like Santos from the West Wing and and someone like Bob Russell who's more interested in optics. I think most of us can agree the bailout was needed and was a success. And the way they structured it the taxpayer ended up making a profit on the bailout because of interest payments when it was paid back. The giant failure on the government's part was failing to do any kind of punitive or regularity actions against persons and institutions perpetuating a fraudulent system to make sure it doesn't happen again.

dys
>>174569093

rot13 for west wing spoilers: V srry yvxr gur ahpyrne arne-qvfnfgre va PN jnf Ivavpx'f irefvba bs ZpPnva orvat pnhtug hacercnerq ba gur erprffvba

Toc

Oh man, great idea!!!! So important to remind people!!!! Can't watch it right now (I'm recording my own podcast actually! lol) but this is going on my shortlist! SO great you guys are doing this. You guys really have such a great array of content, I never know what's going to pop up, and I feel like a squirrel because there are so many reactions I want to get to and still haven't! Saving 'em all up for those rainy days! PS: For your Insomnia Cinema: White Heat (1949). That's the definition of Insomnia Cinema. A classic that usually would be on in the middle of the night! Off topic I know, but had to get that in before I forgot. I'll try to think of other authentically middle-of-the-night movies! Anyways.....DEFINITELY will be watching this, probably later today! :D

Actuarial Lurker

And the scary thing is that nobody learned from this- BOTH major US political parties- yes one more than the other- have ignored it and...now we have "CLO" collaterlized loan obligations filling the role of "CDOs" from 2008- where they are now "packaging" every OTHER type of sub-prime debt except mortgages- accounts receivables from major credit cards, medium size business debt from struggling businesses (i.e not S&P 500, not mom and pop with 2 stores, but chains with 10 stores etc- think of all the stores disappearing from malls). Light a match from a "stable genius" set of tariffs, runaway deficits from the next 4 trillion dollar tax cuts AND.....what do you expect will happen?. The ONLY good things are that analysts are "looking through" credit guarantee wraps that make BB bundled crap into nominally A rated cash flows and some regulators (like the state wide insurance regulators) who are developing rules effective in 2025 to limit their use by life and property insurers or forcing firms to disaggregate the bundled securities and model the actual junk within the stew pot- i.e. ignore the phantom "diversifiction. So the exposures are going to pensions, hedge funds, ETFs and the like

Actuarial Lurker
>>174598210

Some of the reforms make insurers treat debt as debt, equity as equity, not count certain assets as part of their balance sheet for solvency and regulatory purposes, and cut back on the assumed return on investments modeled for future cash flows for government filings.

Actuarial Lurker

The people I view as heroes in this are- Paulson at Treasury, Fed Chairs Bernanke here and more so Powell (for his handling of the end of this and the Pandemic)- nominally Republicans- the latter raised by Social Justice Catholics- Jesuit high school and college, throws Catholic buzz words about the impact on the poor etc in nice little nuggets in his speeches for those who care to find these and runs policy with the impact on the lower class in mind, Elizabeth Warren whose CFPB was a big step- but is about to be DOGED, Dodd and Frank who got about 45% of what should have been enacted put into their law. The culprits- W Bush for being dumb as a rock, Bill Clinton caving in to Newt Gingrich and the GOP controlled House to remove Glass-Steagall laws from the 1930s and Gingrich and crew for "deregulating" in the 1990s. Add in Citizens United where the bankers and PE firms fund the re-elections of willfully blind politicians and you get things like we have now. The Bankers- we know aht they did. this puff piece making several of them look like heroes made me want to vomit

Youtalkingtome
>>174600263

I agree. The bankers were the culprits, and many of them deserved prison sentences after the dust settled. Instead, they got huge bonuses and bought back their stocks with taxpayer money. Sickening.