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Jamie Dimon On The 2008 Crisis

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CNBC

CNBC

Күн бұрын

In a conversation with CNBC's Andrew Ross Sorkin, JPMorgan CEO Jamie Dimon details the events leading up to the 2008 financial crisis. Ten years later, he says he doesn’t trust doing business with Washington because “the next government can do whatever they want.”
Watch the premiere of the CNBC Original “Crisis On Wall Street: The Week That Shook The World” Wednesday, Sept.12 at 10pm ET/PT.
Ten years after the fall of Lehman Brothers, CNBC has produced the definitive televised account of the historic bankruptcy and cascade of events over a September weekend in 2008 that led to the worst financial crisis in generations. In this prime time original documentary, Andrew Ross Sorkin, CNBC anchor and author of the groundbreaking best-seller "Too Big to Fail," reports on how the nation and the world came as close as ever to a full economic collapse.
The story is told through gripping interviews with those at the highest reaches of the U.S. government as well as the CEOs of the nation’s largest banks who gathered to try to save Lehman Brothers from failure. Wall Street chiefs Jamie Dimon, John Thain, and others describe dramatic, around-the-clock negotiations. Former U.S. Secretary of the Treasury Hank Paulson tells of the desperate moment when he realized that a Lehman bankruptcy could bring down the world’s financial system.
Could a financial crisis of this magnitude happen again? Sorkin puts that question time and again to the people gathered for this CNBC documentary, who shouldered the fate of the world’s finances and who recall the nightmare scenario they faced down ten years ago.
"It would be breadlines across the country for a generation,” former president of the N.Y. Federal Reserve Tim Geithner told Sorkin. “We did feel that we were making choices and faced with outcomes that would be devastating to the lives of hundreds of millions of people."
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Jamie Dimon On The 2008 Crisis | CNBC

Пікірлер: 536
@kortyEdna825
@kortyEdna825 2 ай бұрын
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
@foden700
@foden700 2 ай бұрын
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
@brucemichelle5689.
@brucemichelle5689. 2 ай бұрын
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@Justinmeyer1000
@Justinmeyer1000 2 ай бұрын
How can I reach this person?
@brucemichelle5689.
@brucemichelle5689. 2 ай бұрын
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
@Justinmeyer1000
@Justinmeyer1000 2 ай бұрын
I checked Aileen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
@letitmatter
@letitmatter 2 жыл бұрын
“If I’m playing tennis with you, I wanna beat you but if you’re having a heart attack, we stop the game and we try to help.” - great line
@madctas85
@madctas85 9 ай бұрын
So why didn’t they “help” Lehman from going bankrupt?
@griffins750
@griffins750 4 ай бұрын
@@madctas85because they couldn’t get guarantees from the government or anyone else that they wouldn’t be stuck with it, and Fuld was an ass who nobody wanted to fall on the sword for…
@billman.
@billman. 2 ай бұрын
@@madctas85because it was impossible to save Lehman at the last minute
@Aryan-qt6pu
@Aryan-qt6pu Ай бұрын
@@madctas85 Lehman was built on terrible principles.
@WestonScally7614
@WestonScally7614 2 ай бұрын
What's the best approach to capitalize on the current market conditions? I'm deliberating on whether to diversify my $150k stocks portfolio. How should I reallocate stocks in my portfolio to mitigate against a crash?
@FelineAirstrip
@FelineAirstrip 2 ай бұрын
The market is volatile at this time, hence I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/etf you focus on.
@SaintYvess
@SaintYvess 2 ай бұрын
I was recently through an investing nightmare during the crash in march 2020. I think with the assistance of my advisor I have so far grown my initial investment of $145k to $480k
@JordanReam8186
@JordanReam8186 2 ай бұрын
Exactly, a good number of people discredit the effectiveness of financial advisors/experts, but over the past 6years, I’ve had one consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but my portfolio can stand the test of time
@EthanMaloney-qp4lh
@EthanMaloney-qp4lh 2 ай бұрын
Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.
@sting_grayl
@sting_grayl 2 ай бұрын
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
@dave623
@dave623 Жыл бұрын
He’s amazing. It’s virtually impossible to tell exactly when he’s lying.
@crossbearer6453
@crossbearer6453 Жыл бұрын
To be fair , no evidence shows he was involved in the making the crisis Given the time he came into JP MORGAN
@awtodor
@awtodor 3 ай бұрын
The whole time. They knew exactly what was going on and they bet against it failing because they were making massive amounts of money. Hell Greenspan and Summers told Brooskely Born it was taken care of when she brought up default swaps in the early 00's. It failed, nobody paid any consequence except for Stern and Lehman brothers. Instead now we cheer them on when in reality they likely are over leveraging all over again.
@tom80
@tom80 3 ай бұрын
Amazing that some people just accuse anyone of lying and have no proof or were anywhere near the action to even know. Put up some proof or accept the fact that you are lying.
@Justanother1ne
@Justanother1ne 2 ай бұрын
@@tom80 look at the Q10 reports of all the big ones
@tom80
@tom80 2 ай бұрын
@@Justanother1ne put up proof
@clemmonswest262
@clemmonswest262 Жыл бұрын
Someday Brad Pitt will play Jamie Dimon in a movie. I’m calling it.
@goodfellabeats
@goodfellabeats 6 жыл бұрын
I feel like they edited this video too much. There seems like there are a lot of gaps in his answers.
@zoojudy5890
@zoojudy5890 6 жыл бұрын
There are always gaps in Jamie Dimon's answers.
@jwwu1342
@jwwu1342 5 жыл бұрын
there r sum things we are not suppose to know
@seanmastro6782
@seanmastro6782 5 жыл бұрын
Good lord, this is a piece to make them look good??? Like they did not know of the lending practices in the 80's, the 90's, the 2000's, They knew well before they state they knew. They do a piece to try to make themselves look like heroes??? They slaughtered families....and only 1 fool did time. What do you do when the criminals are running the show??????
@seanmastro6782
@seanmastro6782 5 жыл бұрын
Thank you Solomon Brothers.
@AndrewKemp15
@AndrewKemp15 5 жыл бұрын
The editing is useless
@Dustinwhy8
@Dustinwhy8 3 жыл бұрын
I don’t think most Americans realize we were about 48hrs away from your ATM card not working.
@ChronicChess
@ChronicChess 3 жыл бұрын
And who caused that? The same people that got bonuses and are still in control
@POTUSgames
@POTUSgames 3 жыл бұрын
@@ChronicChess well go be honest it’s a bit of everyone’s fault, the everyday person getting a mortgage they couldn’t afford, some even multiple mortgages, banks fault for packing them into CDOs, and insurance firms mainly AIG for insuring amounts they Couldn’t afford
@sphakamisozondi
@sphakamisozondi 3 жыл бұрын
@@ChronicChess it was everyone's fault. Banks for their greed and not realizing that the housing boom will bust. AIG for insuring toxic assets, and low income earners for having mortgages they couldn't afford.
@flashoflight8160
@flashoflight8160 3 жыл бұрын
@@ChronicChess Agree with the others everybody drank the Kool Aid. NINJA lenders/borrowers, investment banks, Greenspan, Paulson, insurance, rating agencies, Treasury, Bush, Congress, and the Fed.
@adamgrimsley2900
@adamgrimsley2900 3 жыл бұрын
We weren't
@ShawnChang19
@ShawnChang19 6 жыл бұрын
Absolutely loving this series
@cweinberg10
@cweinberg10 5 жыл бұрын
Jamie Dimon is the LeBron of banking
@ArturoGarzaID
@ArturoGarzaID 5 жыл бұрын
Jamie Dimon is the Jamie Dimon of banking.
@ndon85
@ndon85 5 жыл бұрын
more like the Shawn Bradley of banking
@christinewood3473
@christinewood3473 5 жыл бұрын
More like Tom Brady of banking, he cheats.
@andypotanin
@andypotanin 5 жыл бұрын
Well put.
@vinh1351
@vinh1351 4 жыл бұрын
he built superteams 👏🏼
@HighPorte
@HighPorte 5 жыл бұрын
He knows what he's talking about. His bank did not suffer nearly as much as others.
@Shreendg
@Shreendg 4 жыл бұрын
@jphilly819 nah. The bank refused to enter the RMBS securitization business because the risks were too high and profits were too thin unless banks took a lot of debt to scale it up.
@harrisonl226
@harrisonl226 3 жыл бұрын
You mean he knew it was coming because he caused it to happen
@dougconner95
@dougconner95 3 жыл бұрын
@@harrisonl226 How did he cause it JPM works a lot differently compared to a investment firm like Goldman/leman ECT. JPM saw the risk and avoided the risk. In my opinion Jamie has done a fine job and make a good call not to get into the mortgage backed securities.
@flashoflight8160
@flashoflight8160 3 жыл бұрын
JPM doesn't lend you money until you don't need it anymore. That's why they did better than the rest. If you are in a bind, Chase will hang up on you and watch you fail.
@Dustinwhy8
@Dustinwhy8 3 жыл бұрын
If you took all the money in the world and gave each person an equal share, within a year some would be broke. Others wealthy. Personal accountability folks. Can’t afford a $1,000,000 home? Don’t buy it?
@sedditguy1836
@sedditguy1836 5 жыл бұрын
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” ― Theodore Roosevelt
@MagnusAnand
@MagnusAnand 4 жыл бұрын
Beautiful quote
@nickl5658
@nickl5658 4 жыл бұрын
But do not praise a man for trying to solve a problem that he himself created.
@the_real_economics
@the_real_economics 4 жыл бұрын
Is it the same Roosevelt, that prohibited ownership of gold?
@flyingviking5281
@flyingviking5281 4 жыл бұрын
@@nickl5658 It's a great quote, but you are absolutely right. Doesn't really fit in this context.
@_audacity2722
@_audacity2722 3 жыл бұрын
So your defense of a corrupt billionaire who is actually partly to blame for the 2008 bailout is “at least he tried?” 😂😂😂 the capitalist rightwing is really just a bunch of morons and idiots omg
@Gitfiddle
@Gitfiddle 5 жыл бұрын
This guy is sharp as a diamond point tack.
@musicandoutdoors
@musicandoutdoors 5 жыл бұрын
jamie has something about him that's charismatic. The way he speaks, its very natural, convincing and honest.
@stancurry6265
@stancurry6265 5 жыл бұрын
musicandoutdoors totally agree, im not a democrat but hed make a great politician
@buildmotosykletist1987
@buildmotosykletist1987 2 жыл бұрын
@@stancurry6265 : As a great financial institution ceo, he'd be a dangerous politician.
@raghavkumar7779
@raghavkumar7779 6 жыл бұрын
This one was the best of all the extended cuts!
@joshfriedman2717
@joshfriedman2717 2 жыл бұрын
Jamie Dimon is persuasive and well spoken. I also cannot help but admire the grit he must have shown as to become CEO of JP Morgan. However, this interview does not encourage one to view him as an honest straight forward man.
@WeenkerIV
@WeenkerIV 2 жыл бұрын
Nice rhetoric, cringy tho
@Zariston
@Zariston 6 жыл бұрын
11:59 funny how they cut him off when he was naming people responsible for it, we can just guess "who" got cut out ...
@njstorozuk
@njstorozuk 4 жыл бұрын
I don't think he was going to name names anyway
@njstorozuk
@njstorozuk 4 жыл бұрын
Obviously, I'd like to know too. All we can do is prepare for these things
@Paola10072000
@Paola10072000 3 жыл бұрын
Great interview! Love to hear Jamie Dimon.
@matthewheath7839
@matthewheath7839 2 жыл бұрын
This interviewer is excellent!
@Pyrrhic.
@Pyrrhic. 5 жыл бұрын
Say what you want about Dimon, but JP Morgan Chase is one of the strongest banks. He is an elite, but I think he doesn’t understand national problems like inequality. Compared to other CEOs, Dimon is pretty good.
@powerhouseinco9664
@powerhouseinco9664 4 жыл бұрын
it's not his job to understand inequality...
@richarda29
@richarda29 3 жыл бұрын
He understands every bit of national problems like inequality. This is a man who walks on people. The only difference between Jamie Dimon & a shoe is that a shoe has a sole.
@5445jedi
@5445jedi 2 жыл бұрын
@@powerhouseinco9664 Sure it is! How else would he know how to exploit it for financial gain?!
@buildmotosykletist1987
@buildmotosykletist1987 2 жыл бұрын
@@powerhouseinco9664 : There is very, very little, almost no 'inequality' in America. Look outside the western world and you will see what 'inequality' means.
@aes9217
@aes9217 6 жыл бұрын
"We" were the "good" guys
@patstokes3615
@patstokes3615 4 жыл бұрын
Jamie Dimon of JP Morgan took 20 Billion dollars of government baulout money just like all the other companies. He did tell the government in the meeting that JP Morgan didn't need the money but the government told him if he did take it and needed it later it was going to cost him 6 % more, so he took it.
@eobardthawne324
@eobardthawne324 3 жыл бұрын
Yes. All of the banks even if they were fine had to take it to prevent it being obvious who needed help.
@scottteague3738
@scottteague3738 5 жыл бұрын
great interview, both ways...
@Justanother1ne
@Justanother1ne 2 ай бұрын
wtf
@gracemiller6996
@gracemiller6996 4 жыл бұрын
Good interview......really insightful.
@Justanother1ne
@Justanother1ne 2 ай бұрын
wtf
@johnnyroycerichardsoniii3273
@johnnyroycerichardsoniii3273 5 жыл бұрын
way too much editing shame on them
@phade2blaq
@phade2blaq 3 жыл бұрын
People didn't know but this country was like 72hrs away from people not being able to get funds from ATMs back then.
@jamboreejoseph766
@jamboreejoseph766 2 жыл бұрын
"It was just a day late, a dollar short." 8:29
@TommyCarstensen
@TommyCarstensen 6 жыл бұрын
Jamie Dimon seems like a nice guy :) It's a shame CNBC edited this so heavily...
@tigran1993
@tigran1993 5 жыл бұрын
Tommy Carstensen he is so nice such a lovely Angel he is .King Of Financial Felons
@bluebayou4822
@bluebayou4822 5 жыл бұрын
had to be....doesn't want to go to prison.
@buildmotosykletist1987
@buildmotosykletist1987 2 жыл бұрын
I'm surprised his comment about the real villian, Obama survived.
@glendelong1023
@glendelong1023 3 жыл бұрын
will it happen again? I have no doubt watching the housing market right now. Prices are way up in anticipation of wage increases. What happens when everything falls threw?
@powerlinkers
@powerlinkers 4 жыл бұрын
they have cut too much of his honest answers.
@Frenchkisssss
@Frenchkisssss 5 жыл бұрын
Reinstate the Glass Steagal Act.
@GeorgecarlinFhope
@GeorgecarlinFhope Жыл бұрын
Little did he know…
@Act1veSp1n
@Act1veSp1n 5 жыл бұрын
Its 1 year later and were about to have another one.
@the-octagon
@the-octagon Жыл бұрын
Why did youtube put this in my feed today? One day after the First Republic bailout 🤔
@austin5645
@austin5645 3 жыл бұрын
“Repo is done properly now” 🙃
@retf054ewte3
@retf054ewte3 Жыл бұрын
stupid questions. Dimon is really patient
@DonaldJ22
@DonaldJ22 4 жыл бұрын
Usually asset prices decreasing is seen as equally an opportunity as a cost.
@withoutwroeirs
@withoutwroeirs 6 жыл бұрын
It was a banking crisis, not a financial crisis. A financial crisis is in the post later this year.
@chkee17
@chkee17 6 ай бұрын
One of the best bankers in modern history
@SmithCommaBenjamin
@SmithCommaBenjamin Жыл бұрын
It's odd how people still try to vilify JP Morgan or Barclay's, like it was their responsibility to save poorly ran banks. Dimon structured his bank to survive just about anything, Fuld didn't.
@JoeDoe2
@JoeDoe2 5 жыл бұрын
Remember the last line........"Lehman wouldn't happen today."
@caroldj.jenkins1843
@caroldj.jenkins1843 4 жыл бұрын
joe doe you mean them going under?
@carlosc.1568
@carlosc.1568 6 жыл бұрын
This guy is one of my idols
@buildmotosykletist1987
@buildmotosykletist1987 2 жыл бұрын
@Carlos C : Dimon would not like that at all.
@evangelistbettybailey6484
@evangelistbettybailey6484 5 жыл бұрын
Jamie I see that as a man of Great Financial Status you are either involved in or pulled into a lot of debateable issues that concerns the daily flow of big well known businesses and large amounts of currency good thing you have a good head for math. Thank you for the contributions that you give to the various charities that you support annually to help the underprivileged God is constantly smiling on you because of that. Always keep God first and your path to greatness will forever have free clearnce. God bless you from your sister in Christ in Hammond, LA.
@Rob-metoo527
@Rob-metoo527 Жыл бұрын
10000 babies A-day die from male nutrition and starvation...
@michaelbodine6142
@michaelbodine6142 3 ай бұрын
I enjoy listening to warren BUFFET versus jamie DIMON for the ECONOMIC costs and opportunity costs..
@trumpsuckscockboddy4742
@trumpsuckscockboddy4742 3 жыл бұрын
Hank Paulson literally helped create this problem. For him NOT to know what goldman and other banks were doing with those mortgages is a bunch of horse manure.
@uinisefoochong5917
@uinisefoochong5917 Жыл бұрын
I forgot billy joel knows you're my dad 😂😂😂
@kbejustervesenet7261
@kbejustervesenet7261 Жыл бұрын
at 13:38 "Do you see any crises in the future? : No, everything is different now. We will not have a new crisis" 😮🤣 2023:March 13'th, 3 banks tipped ower allready i two days...
@AFuller2020
@AFuller2020 5 жыл бұрын
"We were sucking liquidity out of the system, but very respectfully", what a hack, listen for yourself at 3:10. If you look closely you can see Turbo Tax Timmy's hand working this guys mouth, what a hack.
@Flowerz__
@Flowerz__ 5 жыл бұрын
A Fuller why? JP paid their 25 billion back
@negativegains4883
@negativegains4883 6 жыл бұрын
When is Billions season 4 coming out? My assholeness from the other episodes are wearing off
@OpenGPTs
@OpenGPTs 5 жыл бұрын
lolol
@stevegarthwaite9429
@stevegarthwaite9429 4 жыл бұрын
Watching this in March 2020 getting crushed by Corona Virus. Eerily similar.
@erikanders3343
@erikanders3343 4 жыл бұрын
Oh yeah. the repo market locked up in December and they did EQ3 (stealth mode) where the fed added 3 trillion dollars to the system.
@MrTmenzo
@MrTmenzo 3 жыл бұрын
Not similar since there's no subprime loans this time.
@jonc4541
@jonc4541 3 жыл бұрын
@@MrTmenzo you ever hear of bonds?
@delpiso88
@delpiso88 2 жыл бұрын
Who is the journalist ? He was great !👑👑👑 I want to follow him. Thanks
@MisterPringles1
@MisterPringles1 5 жыл бұрын
one of the smartest scammers out there
@jack.1.
@jack.1. 4 жыл бұрын
People hate on a lot of guys in finance but what has Jamie Dimon done wrong? Hes got a pretty clean history
@jack.1.
@jack.1. 3 жыл бұрын
@Christianity Boxing Mafia nah
@ledhalenV
@ledhalenV 2 жыл бұрын
Well I guess he was wrong about another financial crisis. Now he is talking about a hurricane.
@nurlatifahmohdnor8939
@nurlatifahmohdnor8939 Жыл бұрын
Page 356 The number of employees at the end of 2009 was expected to be 63,500 in BCA and 69,917 in Integrated Defence Systems.
@charlievardar1330
@charlievardar1330 3 жыл бұрын
😐 WOW, I didn't know that he became a CEO in 2005th, i.e. after the ball started rolling down.
@naturalLin
@naturalLin 6 жыл бұрын
I heard he got a 40 millions usd pay check during recession
@carlosc.1568
@carlosc.1568 6 жыл бұрын
Lin Xu Can’t confirm, but if it’s true it means he made the right bet.... pd: you could have done it too btw
@meetstepsisalcoholicdouche6167
@meetstepsisalcoholicdouche6167 5 жыл бұрын
He’s also become a billionaire in the last few years. Kind of strange considering he accepted a 25 billion dollar hand out
@brantleystraub243
@brantleystraub243 5 жыл бұрын
@@meetstepsisalcoholicdouche6167 none of the so-called "hand outs" were actually handouts. They were low interest loans granted by the US government, which ended up being paid back, full in principle and in interest.
@jdee2051
@jdee2051 5 жыл бұрын
JP Morgan did not need the bail out money. They were asked to take it as part of TARP and if one didn't take it. It would have been the end of those that did need too. Also his compensation is and was in line with other CEO's (the absurdity of 40m salaries aside). His bank was profitable and could have withstood the recession with no help. Of all the people to take issue with compensation with after the bailout, Dimon is not one of them.
@TheDude-yw4kn
@TheDude-yw4kn 4 жыл бұрын
Brantley Straub that’s a lie. Some banks still owe billions including GM!!!
@80sruler
@80sruler 6 жыл бұрын
He’s his own biggest fan
@saikrishnaallu6557
@saikrishnaallu6557 3 жыл бұрын
Thank you JP Morgan Chase
@yeeyaophang1220
@yeeyaophang1220 3 жыл бұрын
Recently Mr. Jamie Dimon says he's holding 500billions of cash in ready for next financial crisis. This time I think he is giving the public a warning sign.
@raikou25
@raikou25 2 жыл бұрын
Financial crises are part of the economic cycle better to be prepared to minimise risk
@Lifeissorich.
@Lifeissorich. 5 жыл бұрын
9:55 4:15
@kromyzal238
@kromyzal238 4 ай бұрын
Smartest banker on earth.
@michaelsweeney8229
@michaelsweeney8229 5 жыл бұрын
Mr. Dimon has a tendency to speed up at the end of his sentences.Subtitles would help.
@diamondhands1021
@diamondhands1021 2 жыл бұрын
And here we are in a greatest recession since 1930s! Totally not possible
@Henry-oo8op
@Henry-oo8op 2 жыл бұрын
thats not true.. lmao the stock market is not the economy.
@Goyotero1000
@Goyotero1000 6 жыл бұрын
He cashed in on all those morgage fees of morgages he new would never be paid.
@Flowerz__
@Flowerz__ 5 жыл бұрын
Goyotero1000 what about the dumbasses who took mortgages they couldn’t repay? I agree that a lot of the 2008 head execs should have been punished I actually think they should have been jailed the guys who ran their companies into the ground. JP paid their 25B back tho from TARP.
@meetstepsisalcoholicdouche6167
@meetstepsisalcoholicdouche6167 5 жыл бұрын
flowerz - you can’t really point the finger there. The banks were selling the pipe dream of home ownership. Half the people they gave loans to weren’t competent to understand how arm and everything else worked. They didn’t understand they couldn’t afford the house. The banks did. They didn’t care because they were just selling the bank note on open market anyways. In the end they knew they weren’t the suckers actually having to back them I’ll put it like this. We have lemon laws on cars. Don’t on banking products though. Some of these financial products are so sophisticated you need a PhD in financial law to explain them to you. Also if our government or fed would have stayed out the market and not backed these loans or offered banks low or no interest like they did the bankers wouldn’t have been as drunk and wouldn’t have had the funds to be as predatory as they were. Shame on you for blaming the common man
@Flowerz__
@Flowerz__ 5 жыл бұрын
Selebrity 152 mate I said the execs should have been jailed. I blame them a lot for this. I’m just saying, your average bloke knew they couldn’t pay the mortgages they were taking. It doesn’t take a rocket science to know if you make 1500 a month you probably can’t afford a 1200 mortgage... I’m just saying OP said oh they cashed in on the mortGages that they knew ppl couldn’t pay.... the people knew they couldn’t pay either!! 100% it doesn’t take a PhD to know that. You are right about some of the other financial products but that is another story and is why I think these execs should have been jailed.
@MrGrace
@MrGrace 5 жыл бұрын
@@Flowerz__ you are they type of person who believe the propaganda. They floated the narrative that this crisis was societies fault. But in reality, it's their fault because they kept betting on our mortgages. They bet 10x more money than was actually out there in the market. If they would have kept our loans on their books, the market wouldn't have collapsed. We didn't make this crisis, they did.
@meetstepsisalcoholicdouche6167
@meetstepsisalcoholicdouche6167 5 жыл бұрын
flowerz I hear you. Here in America though people really are that stupid. Most of the people that took those mortgages seriously did or at least at first figured they can afford. The 2 big problems were the fine print in arm mortgages and when the economy tanked allot of people lost they’re jobs. If the banks wouldn’t have gambled most people wouldnt have lost they’re homes. That’s my argument at least But yeah my bad. Majority of it not all should go out to lenders. That’s other people’s money they were gambling with. Some how the people still trust them
@TheFourSatoshis
@TheFourSatoshis 2 жыл бұрын
Crook was shorting housing bonds while selling then to pension funds.. this man belongs in jail
@uinisefoochong5917
@uinisefoochong5917 Жыл бұрын
Dad if disney says no I can always write for DreamWorks
@furiacruzada5127
@furiacruzada5127 2 жыл бұрын
It’s happening right now. If no major action will be taken immediately, 2024 it will all happen again.
@jimpikoulis6726
@jimpikoulis6726 Жыл бұрын
In that room there were 17 wankers
@anderbeau
@anderbeau Жыл бұрын
Whoa… he sounds just like Tim Apple 😂
@sanketsawant7475
@sanketsawant7475 3 жыл бұрын
There always be next crises, just matter of time
@buildmotosykletist1987
@buildmotosykletist1987 2 жыл бұрын
@sanket... : Yes and every crisis is an opportunity.
@uinisefaustinafoochong7743
@uinisefaustinafoochong7743 Жыл бұрын
2008 haunts me too
@dontfighttheriptide4091
@dontfighttheriptide4091 2 жыл бұрын
A small few were made into villains, and some of the same lot like Dimon were allowed to “look” like heros… gotta have a villain to distract
@jojoplacide
@jojoplacide 4 жыл бұрын
A year later and Wall Street is Levered up again🤔
@cryptokiwi5520
@cryptokiwi5520 6 жыл бұрын
CNBC are you guys releasing these videos because of the imminent crash that’s coming?? National debt is 3X what it was in 2008.
@zolozek3327
@zolozek3327 6 жыл бұрын
Warning signs all over the place
@euenfheiejrj
@euenfheiejrj 6 жыл бұрын
Yep it's coming. JPMC is predicting 2020
@zolozek3327
@zolozek3327 6 жыл бұрын
@@euenfheiejrj exactly next presidential elections are gonna be crazy
@carlosc.1568
@carlosc.1568 6 жыл бұрын
Lmao
@euenfheiejrj
@euenfheiejrj 6 жыл бұрын
@@zolozek3327 its Republican 101...crash the economy and increase deficit for the next Democratic president then complain that they aren't fixing the economy fast enough and suddenly care about the deficit again.
@dopemusic6414
@dopemusic6414 6 жыл бұрын
Dude literally looks like a guy out of the 1700s one of the founding fathers.
@ErickOberholtzer
@ErickOberholtzer 6 жыл бұрын
Really? Powdered wig technology must be really advanced because I can't see it...
@uinisefoochong5917
@uinisefoochong5917 Жыл бұрын
The abandonment plus the embarrassment I need to change my name
@mobile8873
@mobile8873 Жыл бұрын
This guy is like Richard Gere, ages very well
@Galactis1
@Galactis1 Жыл бұрын
Glass Steagall should never have been repealed.
@uinisefoochong5917
@uinisefoochong5917 Жыл бұрын
Dad you're mad at me I can tell
@Thefirstbrady
@Thefirstbrady 4 жыл бұрын
How did i get an ad in 3045
@CrackerJax
@CrackerJax 6 жыл бұрын
So CNBC is trying to say everything is fine, lol. Time to worry :/
@mtaehwang
@mtaehwang 6 жыл бұрын
hellbound
@edacoskun1852
@edacoskun1852 2 жыл бұрын
In 4.55 He mentions LTCM how is that related with that night in Fed, I mean what was similar with LTCM case can someone explain?
@scotty3463
@scotty3463 2 жыл бұрын
This is an incredible human being
@moneynoob1372
@moneynoob1372 3 жыл бұрын
Next financial crisis: over leveraging with naked shorting.
@user-sr9us7kv5r
@user-sr9us7kv5r Жыл бұрын
This guy may have predicted it a week before, but Bury predicted it in 2005 lol.
@FineFlu
@FineFlu 6 жыл бұрын
Interviewer looks like Jimmie Fallon cross Bradley Cooper
@SilentGuardianGaming
@SilentGuardianGaming 2 жыл бұрын
Well this video didn't age well. Little over 3 yrs later and we're about to be in a crisis worse than 08
@user-nj2ld5iy4m
@user-nj2ld5iy4m 7 ай бұрын
Anyone noticed that the interviewer has a CAT EYE !!
@nhanha7433
@nhanha7433 2 жыл бұрын
And industries oversea. All we need the agriculture.
@temimegraham1904
@temimegraham1904 3 жыл бұрын
There should be a harder sentence for CEOs who manipulate the stock market to make a strong example of them and their failures.
@situated4
@situated4 4 жыл бұрын
A true, blue "MIGJAM" -- "Man, I'm great. Just ask me."
@eddieakunka2777
@eddieakunka2777 6 жыл бұрын
I won’t trust him to see the second crises, he didn’t see the first one coming
@jdee2051
@jdee2051 5 жыл бұрын
Um mm. His bank that he runs was set up to withstand the recession for a reason.
@stevedriscoll2539
@stevedriscoll2539 2 жыл бұрын
You may be right, but I think anybody insidious enough to create the credit default swap is savvy enough to see the crisis coming. He greatly benefited from the crisis...plus he had no business being in Gov't too as that was a major conflict of interest...
@buildmotosykletist1987
@buildmotosykletist1987 2 жыл бұрын
@Eddie... : Go search out interviews with Dimon prior to 2008. Your in for a surprise.
@rengasamysoman
@rengasamysoman 9 ай бұрын
He is one of the operator of the market common on
@chillier8363
@chillier8363 3 жыл бұрын
i have to go check my memory, right
@ExasperatedMacerated
@ExasperatedMacerated 3 жыл бұрын
when an old white dude says ‘damn straight’ i listen
@emiliog.4432
@emiliog.4432 2 жыл бұрын
Gotta give it to JD. smart.
@54tristin
@54tristin 2 жыл бұрын
Time served =. O
@carlosmonkee
@carlosmonkee 6 жыл бұрын
McAfee 2020!
@ALWAYSELITE98
@ALWAYSELITE98 5 жыл бұрын
the guy giving the interview has a blue eye and a brown eye with different shaped pupils
@TheChiefCoin
@TheChiefCoin 4 жыл бұрын
Looks cool.
@nhanha7433
@nhanha7433 2 жыл бұрын
The Wall Street investor still act same behavior in the last 20 years they did not change anything yet.
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