Lehman Brothers - The Bank That Bust The World (Documentary)

In 2008, Lehman Brothers went bankrupt, causing the global financial crisis. In this video, we'll explore the history of Lehman Brothers and the 2008 financial crisis, from sub prime mortgages to the global recession.
This video is for history buffs, financial experts, and anyone who wants to learn more about the 2008 financial crisis. Lehman Brothers is a key player in this epic story, and we'll tell you all about the bank that broke the world. Don't miss this fascinating video!
A definitive account of the September 2008 collapse of the banking giant Lehman Brothers that precipitated the global financial crisis. A panel of world leaders and CEOs discuss the tense negotiations that took place in New York and London as the investment bank spiralled towards bankruptcy. Amongst those featured in this BBC documentary are the then UK Prime Minister Gordon Brown, UK Chancellor of the Exchequer Alastair Darling and US Treasury Secretary Tim Geithner.
#documentary #stockmarket #financialcrisis #lehmanbrothers #trading #investing #recession #inflation #fed
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Disclaimer : This video was created with the aim to educate and inspire its audience. Trading Coach UK does not own the video clips or the music, i.e. all rights are reserved to their respective owners. If the owner/s would like to get the music or video clips removed, I have no problem in doing so. (There is no negative impact on the original content)
Copyright Policy : Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. _______________________________________________________________

[@TradingCoachUK]

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[@janea4777]

You’re comment section has a scam bot posing as you.

[@jakejake5892]

Gc0c

[@paulhorgan6152]

A what American

[@johnbarroll1120]

where were the internal controls at these firms???

[@Lpreilly72]

Don’t trade. Buy for the long term. S&P 500, long term low cost fund. Like Vanguard. 10% a year every year since 2012. Compounded. Retired now! Or, if you like a little risk, Berkshire Hathaway. 20% a year. Compounded.

[@HodgeChris]

It was a very bad decision to remove the Glass-Steagall Act in the late 1990s, which led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent another disaster, Dodd-Frank and this statute both need to be reestablished right away. What happened with these banks is only the beginning of what will happen if nothing is done to address the current situation.

[@PatrickFitzgerald-cx6io]

In my opinion, some of the banks was attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.

[@carssimplified2195]

Despite the economy's resilience thus far, the banks scenario cautions that the effects of Federal Reserve rate hikes persist. During such periods, investors must remain alert to anticipate what comes next. It is not necessary to act on every prediction, so I recommend seeking the guidance of a financial advisor, which has been my go-to advice for some time now.

[@KaurKhangura]

I'm intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?

[@carssimplified2195]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@KaurKhangura]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@briansmith8730]

And all the bankers lived happily ever after…

[@brianallison1913]

A Google search of some images of the Rothschild estates the family has owned throughout the centuries will attest to that.

[@briansmith8730]

@@brianallison1913 yeah but the Rothschilds probably had to sell a few homes to afford those space lasers. (If you don’t know what I’m talking about then Google it.)

[@stevensuarez6564]

Until svb happened.

[@user-py5kg4yw1r]

😂👊🏼🍹

[@D3xterJettster]

Until the next completely preventable crisis

[@chef_rg.2]

In 2008, pre college, I had a job making $200-$250 a week. I was broke. I had a car payment and rent, etc...... I was still approved for a home loan. I told myself something isn't right, and I got the hell outta there

[@mindpower1933]

GREAT 👍 MOVE

[@MrArabianandproud]

What an idiot not to see the amazing opportunity you had For max 7% interest , even if you sold your property five years later at sale value u only lost 7%

[@re4477]

You "WOKE" up. Give yourself a pat on the back because you realized you would just be throwing your money in the trash.....

[@BuziAdpt]

got the hell out of where? the country?

[@griffins750]

Yeah people love to blame it on the banks, but the banks were merely selling/trading garbage, they weren’t the ones buying it want… Regular people, too self absorbed to care that they couldn’t afford what they were getting into dug themselves into a hole and then were surprised when it left them with nothing… Yes the banks were greedy bastards, but if there’s anything I’ve learned from that financial crisis, it’s that we all played a part in it, none of us save for people like you and my parents who were smart enough to know their own worth were innocent… It’s our responsibility to know better, to not be so starry eyed and greedy, but we were, and we paid for it…

[@freonxkipper]

Great documentary. In 2008 I owned an architect's office with 20 employees. We were specialized in designing and engineering large housing-projects in the Netherlands. In the weeks following the collapse of Lehman Brothers, at least 6 large projects we were working on were cancelled. CEO of a large housing firm: "Financing new real-estate out of our reserves this moment is opportune." On top of this, also other projects by my collegae were cancelled an it resulted in the bankruptcy of my business. I'll never forget 9-14 but at least now I know what happened. 50% of Dutch architects ran out of business during what we call the construction-and-real-estate-crisis. luckily I'm one of the survivors who can still enjoy being an architect.

[@JSRJohn]

Thanks for the insight. How did you survive as an architect? Did you end up creating a new business or did you join one that was able to survive the crisis in the Netherlands?

[@freonxkipper]

@@JSRJohn After the bankruptcy I've tried to stay working on my one but because my investment (second morgtage on our house) was lost, and not only my CEO-salary was stopped but also the fee to pay for the extra interest on the second mortgage, we had to sell our house in 2015. The lone at that moment was greater then the selling price. In the Netherlands you not only lose your house but you stay in debt at you bank. (in our case about € 125,000,--) Luckily in the Netherlands there is a system called "Wet Schuldsanering Natuurlijke Personen" If a judge allows you to take part in this system, after a "sanitation-period" of three years your are square. During this period your salary and that of your spouse (or children living with you) is cut to around 60% of minimum wages. The surplus of money is reserved for the bank you ow the money to. My wife's salary was exactly the amount of monthly money we were allowed to keep. So, every penny I'v earned (during this period you have to work and earn as much as possible) was reserved for the bank. This enabled me to work as an architect as an employee at an architectural-and stuctural engineerings office for an affordable fee. I've learned to Model BIM models in that period. My network expanded and if there was nog enough work as an architect i could work as an engineer. (Financially you could say I've worked three years for free) In 2019 after the debt-sanitation, my former employers became my associates in our new architect's office. Dutch building-economy still suffers because of the effects of the construction-and-real-estate-crisis but yes, I've survived as an architect. Still we depend on my wife's salary "to pay the rent" but at least anything I earn, we can use to have some fun in our life. (Last year we've bought a 44 year old sailing yacht to replace the yacht we owned but had to sell when my firm went bankrupt. We are on our way up). In the Netherlands insolvable debts of bankruptcy comes with great shame. Because of bad timing (I've bought the firm for over € 1,4 M in 2006, just 2 1/2 year before Lehman fell and still had to pay of the lone when the orders were withdrawn) and bad luck, We didn't had any shame at all and were able to ask for help to anyone and everywhere and lots of friends, family and even strangers helped us. In 2009 about 15.000 men and women were employed as an architect or as a creative employee (impression-artists, design assistent's interior desinger's and so on) at an architect's practice. (not counted engineers or technical drawing staff) In 2018 there were 7.000 left an now it's about 8.200 people working in our branche in the Netherlands and I am still one of them. It's the nicest job in the world.

[@healthytruth1363]

IT WAS NOT YOUR FAULT FOR THE REAL CRISIS HAPPENED ACROSS YOUR OCEAN RIGHT INTO THE WALL STREET OF NEW YORK ❗️❗️❗️❗️ VARIABLE RATE LOANS IN THE BANKING MARKETS MAKING BILLIONS FOR VERY GREEDY BANKS .......WAS THE MAIN CAUSE ❗️❗️❗️

[@pattimaeda6097]

Nice since you can’t spell😂

[@waterwomaninFL]

Your experience is so sad both for you, your colleagues, other businesses and your country. The arrogance and disregard for people such as yourself by the top executives at so many wall street firms is egregious and makes one question if humans are essentially good or evil.

[@thetooginator153]

It seems like very few documentaries mention the fact that hundreds of billions in mortgage debt was in variable-rate loans, and those loans all increased their rates in 2007. Many borrowers were told not to worry because they could sell their homes at a profit the second the rate went up. What borrowers WEREN’T told is that a million homeowners would be selling at the same time, and for the same reason.

[@purselmer5931]

If someone told me that I could sell my house for a profit, it WOULD occur to me that if my house value went up, so did everyone else's in the area. That would be true even if no one else got the same loan I did. Nobody would have to "tell" me this: it's just common sense.

[@thetooginator153]

@@purselmer5931 - In 2005 there was an article in the New York Times that said millions of variable-rate mortgages were going raise their interest rates dramatically in 2007. I STRONGLY recommended that my friend sell his house ASAP, while the market was high. He didn’t, and he lost all his equity. Apparently, millions of people were either unaware of what was going to happen, or weren’t concerned. In the United States, half a million homes were repossessed in 2005. In 2008, that number was three million. Basically, almost no one saw the writing on the wall.

[@purselmer5931]

@@thetooginator153 Oh, I completely agree. There were those who refused to listen to their own common sense, probably lured by the idea that they could keep up w/the Jones's and felt pressured by that to buy much more than they could afford. I am well into my 50's and have bought and/or owned five homes. For my 3rd home, the bank pre-approved me for literally DOUBLE what I was comfortable paying. When my realtor kept pressuring me, I changed realtors and bought a house that I KNEW I could afford. When the 2nd realtor asked why I wanted to stay so low when I qualified for so much I said, "Because I like eating and putting gas in my car too!" That was the last time that that realtor and I discussed it and she said I was "smart." LOL

[@davids8127]

And that greed and low interest 20 years later pushed out any young adults from a possibility to own a home as a single person. In England the prices went up 5-10% year on year and I`m 29 and I have to become a manager to afford a house myself in England, where you only get a 2-3 bedroom tiny home for a mortgages shared between 2 person as they not giving people more than 4 times your yearly salary (+20% downpayment) and I only make 30k with a BA degree while houses starts at 150k. I hope the housing market collapses again so I can afford to buy an old house that needs refurbishment. Wish I was a boomer not millenial

[@purselmer5931]

@@davids8127 Hey hey, don't act like us older people didn't get affected by this (I am NOT old enough to be a boomer though). When the house prices went so high b/c everyone and their mother was affording a mortgage, that made the rest of us have to get smaller or fix-me-upper homes too. This b.s. affected EVERYONE.

[@randykubick]

Dude clears a couple billion, drives company into ground, loses everyone’s money, files bankruptcy, walks away. I sure hope he has enough money to survive. Bankruptcy laws need to change. These joker’s have no fear they’ll lose their money, but everyone else’s is under the dice.

[@suminshizzles6951]

People like fuld need to spend time in jail. Serious time. Like decades. Instead, regulation is stripped away and soon we will go full circle with another round of tax payer funded bail outs. This is shifting public money into the hands of a few individuals under the guise of saving the economy.

[@letsgococo288]

He makes in 1 year more than most in a lifetime.

[@charlesblack4657]

What gets me is he showed no remorse to the millions of peoples lives and businesses that he ruined due to his mismanagement of the company. Yeah he is filthy rich but what about the victims he basically stoled from..

[@hoopman82]

Dick was a nasty primate whose hubris knew no bounds. Hearing how the man who ruined millions of peoples lives, refused to acknowledge underlings shows his true “lack of character”. I hope he has trouble sleeping at night but I doubt he does.

[@vonhummie]

Well said

[@TFBITRCY]

Amazing after all these years how interesting this video still is.

[@purnakotapati4104]

What fentastic documentary. Very rare to see this type of documentaries on Financial matters. Hats of to your team.

[@Kalsarikannit-Budapestissa]

Charles Ponzi would be amazed and so proud.

[@TradingCoachUK]

Hahaha 😆

[@williamhilbert8324]

Lol Ponzi tried to make his mess right, he's a choirboy compared to corporate scum

[@joeykantot]

ponzi will look like saint, these bankers bet against their investors and they peddled this house credit AAA. Pure evil

[@hdj81Vlimited]

the whole USA bankingsystem is a fraud. and they have control to ALL banks in the world except N-korea. ALL the bankingsystem is made by them, swift system, petro$, US $ printing machine, BIS, ECB, IMF, FED, worldbank, bank of asia, all in control USA

[@Robylazarus]

I beg to differ, that honor goes to the one and only Bernie Madoff!

[@ArtFreeman]

I used to work for Lehman but left two years before Lehman collapsed. I left because the managers were becoming very difficult to work with. I realized later that Dick Fuld was the one who was driving the insanity.

[@AnIdiotAboard_]

Worked for them upto there collapse, we designed and built there datacenters in asia, they went bust owing us millions, put us out of business, only to be told at bankruptcy Lehman UK (our employer) was bankrupt but solvent and wed be paid in full.

[@marc2638]

So did you return all the money you yooked while you "worked" there? Its an honest sincere question I mean after all you seem to be very disgusted with the outcome. so were you mad because of how things were run or mad and left because you guys knew years before that your system would kill the American economy by bankers greed and you didn't want to go down with that ship??

[@AnIdiotAboard_]

@@marc2638 We built trading floors and datacentres that handled more transactions than you would know what to do with. We quoted for work and was paid. Bank or not, you get paid for the job you've done

[@Jonteponte71]

I'm sure it's not a great sign for company culture when your CEO has "The Gorilla" as his unofficial nickname. Yes. I also worked for Lehman. Left the spring before the collapse :)

[@AnIdiotAboard_]

@@Jonteponte71 All my staff call me a cunt mate, and i dont give a rats ass, i pay well, they fuck up there held accountable they do well they get a bonus. Theres nothing new in staff hating there boss

[@AntonioBianh]

Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.

[@cythiahan8455]

In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.

[@MarkFreeman-xi3rk]

Ironically, these are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The banks are in a big crisis. The market looks very shaky. The bigger the red candles, the bigger the green ones. I have made over 280k in the last 4 months by investing through my FA.

[@JenniferDrawbridge]

@@MarkFreeman-xi3rk How can I reach this advisor of yours? because I'm seeking for a more effective investment approach on my savings,,

[@MarkFreeman-xi3rk]

@@JenniferDrawbridge “Margaret Johnson Arndt does a good job. She is quite the genius in portfolio diversification. You can look her up on the web as she is SEC regulated.

[@SophiaChristian-so2of]

I am going to look her up too, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.

[@6catalina0]

54:19 “After twenty years of service, I had nothing.” Welcome to life as an hourly employee.

[@LukeandLucas]

Matt Taibbi summed it up well. “Think of this crisis not as an economic issue but a crime story”

[@winter_silhouette]

I think it was a wall street guy who said this to Matt.

[@davidvergolini9740]

The less regulation, the more greed is involved.

[@Showmetheevidence-]

100%. That was such an insightful & accurate comment!

[@Showmetheevidence-]

@@davidvergolini9740 totally disagree. We need the “right” regulation & they should never bail these crooks out… they went wild knowing they could just cry to government about collapse and they’d be saved.

[@davidvergolini9740]

@@Showmetheevidence-wrong. The financial crisis shows us what can happen when there is no regulation. People get greedy and the middle and lower class suffer.

[@dall1786]

And here we are today rolling back all of those regulations that are supposed to prevent this from happening again

[@PH-md8xp]

Exactly. Foolish republicans.

[@jayneryan6395]

Great, isn't it?

[@Bodmanting1321]

@@PH-md8xp you mean stupid democrats? Sleepy joe screwed us

[@Grande79]

@@PH-md8xp it was both Democrats and Republicans who passed bills forcing the banks to lower decades sold standards on lending. Remember Clinton’s campaign of every American should own a home? Your partisan BS is just that, complete BS

[@pjmvdbroek]

Amazing that no one went to prison over this crime.

[@NathBentleyYT]

What did they do illegally

[@bjbell52]

@@NathBentleyYT That's the problem. There wasn't any law against what they did. Indeed, there was a law making it illegal to charge them with a crime. BTW - I worked in the mortgaged backed securities of Lehman Brothers for 13+ years.

[@CAHSR2020]

@@NathBentleyYT Wrecking the global economy with greedy negligence carries no direct punishment and that's the problem. Here in the US we privatize profits and socialize risk. Rinse and repeat over and over again like clueless lemmings.

[@rocker4577]

One person did, call him Faul Guy.

[@bjbell52]

I should have noted that the thing that hurt the banks were NOT mortgages themselves but the mortgaged backed securities that used those mortgages and more than that - the derivatives (in this case Credit Default Swaps) that were used to insure those MBS's. Since there were no regulations on derivatives, investment banks could do what they wanted with them and they learned they could make $$$$ buying and selling them like stocks. The biggest problem with the lack of regulations was their ability to have between 7-10 "insurance policies" on one MBS. If a MBS lost $10 million, the sellers of the CDSs had to pay out $100 million and that was the REAL cause of the problem.

[@alexsteven.m6414]

..Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places

[@belobelonce35]

All big corps are just a cohort of centralised system working together, and any damage to one can have a dangerous ripple effect on every other one. I learned a long time ago to not trust corporations. Most of my money is in the stock market and my businesses. I keep only what I need to spend in my checking account.

[@valeriepierre9778]

@Dave Delva Impressive! I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging, who's the professional coaching you?

[@bernisejedeon5888]

@Dave Delva Thank you for this Pointer. It was easy to find your handler, he seems very proficient and flexible. I booked a call session with him.

[@arpakyna]

@@bernisejedeon5888 careful! He lost or perhaps scammed me out of sizeable % of my investment account.

[@jimhen459]

Bankruptcy??? Odd phrase for Bank Robbery.

[@633ohioc]

Well said 👏 👌 👍

[@williamhilbert8324]

Well said Sir

[@michaelkeeping8040]

They should have never been bailed out sets a bad example for company’s that big and so called important

[@deonjoseph1889]

Well said, depravity is their code

[@longshotny]

🔥

[@chrissummers194]

Unbelievable a major bank can be brought down by utter incompetence at the very top

[@RARochester]

Most of the heads of the top bank followed the same mantra as Dick Fuld; the difference was he was the most greedy.

[@diannshoemaker6419]

@Chris Summers: This wasn't incompetence. These guys weren't stupid, they left FABULOUSLY RICH. The found a loophole and blew it open, knowing full well the damage, when it crashed. THEY BLEW THIS BUBBLE... knowing all bubbles burst.

[@brutonano9521]

It was pure greed and wretched excess.

[@613miami]

Greed

[@Chicagoan444]

Excellent documentary. This is the most clear and cogent explanation I've seen of the Lehman Brothers collapse

[@DarleneMurphy774]

The failure of Silicon Valley Bank has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. I'm at a crossroads deciding if to liquidate my dipping 200k stocck portfolio, what’s the best way to take advantage of this bear market?

[@Adukwulukman859]

The SVB situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,” It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor.

[@ZITABELCOMEDY-xf1ws]

I agree, having a brokerage advisor for inveesting is genius! Amidst the financial crisis in 2008, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.

[@MalindaDeleon]

@@ZITABELCOMEDY-xf1ws I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@ZITABELCOMEDY-xf1ws]

@@MalindaDeleon The investment-advisor guiding me is Laura Marie Ray, she is popular and has quite a following, so it shouldn't be a hassle to find her, just search her

[@LucyHyde-zx8gq]

@@ZITABELCOMEDY-xf1ws This recommendation literally came at the right time, I’m down by $6k in stocks this week alone.. its crazy! I just looked up Laura Marie Ray online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.

[@YesThisIsCrass]

"What should I have done?" I dunno, maybe not lend money to people with no assets or jobs?

[@TradingCoachUK]

The banks just chased profits and targets and got complacent like always

[@jamiestewart48]

Not to mention leveraging themselves to the tits.

[@CinfamousM]

I don’t know how Dick couldn’t answer “how did this happen?” How about greed? It was greed! They were over levered in highly speculative investments and didn’t account for risk whatsoever

[@mikeace5831]

Remember what he said I like to eat everybody's heart out well I guess he got his heart eating out

[@bh5037]

but sorry , leveraging was the only way for them earn billions instead of million ... you should not be jealous .. become a bankster and a billionaire yourselve !!!! who caress of normal people - noboday who is rich ...

[@tulpamedia]

My dad worked for lehman brothers as a mining analyst from 2001 to the final collapse. Needless to say, it was completely insane seeing everything unfold through the eyes of my dad. Shit will go down in the history books.

[@maxm2639]

That Fuld could say that he couldn't think of anything he could have done differently means that he's an idiot or that he thinks that the rest of us are. He should have been sentenced to 100, 000 hours of community service helping people of modest means to get mortgages, although subjecting mortgage seekers to his personality would have been a problem.

[@timmyp34]

His service should have been making license plates, or making little rocks.

[@samirkotecha9481]

Even to this day the world has not fully recovered from this crisis

[@delana2842]

It sure hasn't.

[@wobblybobengland]

It never will, there is a conveyor belt of entitled vips, ie. parasites that will continue to find a way of feeding off the big money teat.

[@user-py5kg4yw1r]

New one is out, but yet world still in the past one 😮😂😂😂 isn’t that amazing speed with these financial genius’s 😂

[@johnlennon232]

Recession is most likely the result of an external factor. For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.

[@alexyoung3126]

Keep this in the back of your mind. There are good days and bad days. It's a zero-sum game, but keep this advice in mind: spend wisely, invest wisely, and diversify your holdings so that when one performs poorly, the others do as well. This can be accomplished by hiring a knowledgeable specialist whose platform provides a wide range of investment options. By doing so, you leave little room for regrets and may even gain more.

[@joesphcu8975]

With the assistance of an investment advisor, I was able to diversify my $401k portfolio across multiple markets, earning over $980k in net profit from high dividend yielding stocks, ETFs, and bonds in just a few short months.

[@kimyoung8414]

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@joesphcu8975]

My Financial adviser is ‘’Helene Claire Johnson’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

[@kimyoung8414]

Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.

[@martinherts1967]

I lost my home here in the UK due to the sub prime mortgage scenario...... only reason I fell behind was due to a spinal condition leading to extended time off work. Then the insurance policy decided it wouldn't pay. Ultimately my particular case is probably part of a mountain of repossession documents still being processed. The broker was a conman who made 5k out of the deal. Said "don't worry about the application form, I'll complete it"..... sorry but I have zero sympathy with the bank. I have total sympathy with every single ordinary person equally affected like I was.

[@pattimaeda6097]

You should have had a rainy day fund and not over extended yourself

[@martinherts1967]

@@pattimaeda6097 oh how I wish it had been that easy! Problem is I was at the time a single working Step Dad, and it was nigh on impossible to save money. I don't know where you're based but here in the UK there's zero help for single Dads no matter what the circumstances are. I respect what you said; in hindsight I shouldn't have taken the commitment on but it was marketed in such a way that I was reassured I would have no problems. Without a doubt it was the insurance policy that was an absolute con. I consider myself as lucky. From what I can gather, hundreds of millions of people lost everything and are in a far worse position. For those, I have every sympathy.

[@thesholovepodcast]

@@martinherts1967 you don’t have to explain anything to patti or anyone. She probably couldn’t walk a mile in your shoes. I’ve had the absolute pleasure of working with the insurance company about a work injury. NOT FUN! 3 years later I’m just now having surgeries. Trying to navigate insurance, kids, injury and everything is no walk in the park with or without a rainy day fund. I pray you’re back on track!

[@picketf]

@@pattimaeda6097 as a homeowner who came close to the chopping block, I have to stress that rainy day funds don't really work in dire straits. Things started to fall appart very quickly and if I hadn't gotten help from family, friends and a good amount of luck I couldn't have kept my property. I met also other people in similar or worse conditions and we could all agree that the Illusion of being in control is far more dangerous than the presence or absence of emergency reserves.

[@timmyp34]

Sounds like you are blaming a sub prime problem for your weak spine and crappy insurance?

[@christinasuozzo]

This my new favorite channel. So glad I found you. Excellent work. 😀✊🏼✊🏼

[@TradingCoachUK]

Thanks, please do check out our other videos and subscribe. We have new content coming

[@claratrevlyn5304]

At 11:43 we have Head of PR for Lehman Brothers Andrew Gowers (or Tubby Gowers as Private Eye called him). His next job would be head of Corporate Communications at BP during the Gulf of Mexico oil spill. The very opposite of the Midas touch.

[@TradingCoachUK]

Serious bad luck for that guy

[@chukkachick1879]

In his calm, level-headed wisdom, his compassion and his lethal intelligence, Mr. Miller did our profession proud. I had mentors like him when I was in law school, and they made me a better, more mindful and conscientious attorney.

[@libertarian1637]

“What should I have done?” Not over leveraged other people’s money to make personal profits. All these banks would have been allowed to fail; none should have been bailed out. And the leadership should have been tried for criminal negligence and recklessness in causing this and frankly should be sent to prison for outright theft.

[@b-id5wq]

Thanks so much for these please keep uploading !!!!

[@TradingCoachUK]

Thanks for coming by. Definitely check out our other videos

[@adamt1316]

Dick Fold was out of a job after 42 years, like we are supposed to feel bad. He was making 500 mil. A year! I bet he is still living large

[@Error_404-F.cks_Not_Found]

What a name.

[@heels4lifx]

@@Dutchy-1168 dude, that makes no sense. I don’t like Dick Fuld but he did not do anything illegal. His bank made stupid investments but they were not illegal. Bernie madoff literally took peoples money and did not invest it like he said. That was illegal.

[@Dutchy-1168]

Bet on it 😝

[@daviewilson_1]

he currently works @ Matrix Private Capital Group ,72 years of age an still getting away with ripping folk off

[@chrisk475]

His name's Dick Fuld. Fuld. It was spelled out at the beginning.

[@michaelbryant2071]

Remember the Contractor who was owed 1million dollars for work he had done. Compare him to the trader, Larry McDonald who was involved with the venture, he jumped ship and left with millions in compensation.

[@lovejoy3347]

It still happens today, especially in the UK. Major banks and institutions overexposed with their investments in the property markets. That's why there are so many more people living on the streets and people unable to get on the property ladder, because of their greed and overexposure in real estate, these players stop builders and government from building more homes and especially low-cost, first time buyer housing, because it would dilute the stock, drop average property prices and ultimately, wipe billions off their portfolios. Just makes you sick how greed destroys society.

[@TradingCoachUK]

AS Banks write down loans they can equally grow exponentially, where as the general public would spend half if not all of thier lives to recover.

[@bvl98]

Exactly on point. Greedy white collar ass holes.

[@clarestucki5151]

Lovejoy That's assbackwards. The problem was caused by building TOO MANY homes for which there were not enough qualified buyers. Then Chris Dodd and Barney Frank pressured the banks and Fannie and Freddy to start loaning mortgage money to unqualified buyers, in the belief that if the unqualified buyers defaulted, the houses could be re-sold at a profit and the defaulted mortgage paid off with the re-sale proceeds. Big mistake.

[@alan_davis]

@@clarestucki5151 correct. The OP is wrong - UK banks have good capitalisation levels, mainly due to laws put in place post-Lehman. Climbing interest rates are also building their profits.

[@Finderskeepers.]

If they can make a profit, they will build. The issue in the UK is the wage gap between top and bottom which translates in house prices. 1/3 of UK housing is funded by the state. It is NOT an issue of being over invested or not investing enough as posted by the commentator which is a straight up contridiction. This was a financial crisis not a property crisis.

[@samfisher2306]

Very interesting topic. I did projects in college about Financial fraud. It's insane what some of these guys get away with but even more frightening is that sometimes SEC and other overseers overlook the red flags.

[@axeldekimpe]

there's a revolving door between government - Wall Street and the regulators.

[@juditthkilach4724]

Very emotional and heartbreaking 💔💔 thankbyou for putting together this wonderful explanation and video

[@Arsenic71]

This is part one of probably the best documentary series about the subprime mortgage crisis and Lehmans Brothers bankrupcy.

[@RUHappyATM]

Greed is never good. Neither is envy. Be happy with what you have.

[@mskidi]

Greed is the primary characteristic of the people belonging to the tribe

[@RUHappyATM]

@@mskidi Now, now, there, be careful. All tribes are susceptible to temptations.

[@mskidi]

@@RUHappyATM Sure, thats why the Fulds', the Maddoffs, the Bankman-Frieds, the Boeskys, the Jordan Belforts etc all belong to different tribes..

[@Robylazarus]

A brilliant documentary about the collapse of Lehman Brothers.

[@rbl4641]

This is an excellent summary- well produced, just excellent- thank you

[@TSquared2001]

As a finance student for life, this is good documentation of a very frenetic and financially perilous time.

[@ronniescales188]

Real Talk... Too Big to Fail and Too Greedy to Quit...

[@irinbree895]

There will always be someone who will and will take the world down when it comes to money!

[@MIchaelGuzman737]

Investors can’t predict the future, bearish periods automatically give way for a new set of stocks to buy and watch while setting the stage for a new profitable uptrend. I have come across articles of people that grossed profits up to $250k during this crash, what are the best stocks to put on a watch list or buy at the moment?

[@MatthewVinson]

It's precisely at times like these that investors need to be on guard against the next certainty. You don't have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@Ammo-Hoarder]

The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a CFP seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy, coupled with the exclusive analysis, it's quite impossible not to outperform. Netted over $550k in ROI since then.

[@kashkat987]

@@Ammo-Hoarder Make lot of sense, good for you though, unlike us, you seem to have the market figured out. How were you able to make such sum?

[@Ammo-Hoarder]

No doubt, the stock market is definitely the most awkward teenager with the wildest mood swings! I began with a pundit by name "LISA ELLEN SHAW". Her approach is transparent allowing total ownership and control over my position and fees are very reasonable in comparison with my ROI.

[@kashkat987]

@@Ammo-Hoarder I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.

[@LobsterPuncher]

Fuld is like a comic book villain come to life. Everything about him comes across as evil and manipulative.

[@supastar25]

He's the poster boy for ultimate Corporate Greed and lack of any ethics...a real life villain

[@randallf.4646]

On the other hand, investors/wall street doesn't want Billy butter cup as CEO. They demand a Godzilla corporate psychopath to increase the bottom line at any and all cost.

[@nicknicknickearl]

sbf makes fuld look like noob

[@studentlogan]

This was very well made, great work

[@michaelschneider-]

+1 .. Agreed. .. Informative, entertaining, well done.

[@petermabe897]

Great story about what can actually go wrong when greed and egos get in the way of thoughtfulness and humanity 💔 As an ex Lucent employee, outside the USA, it would be interesting to hear what actually happened in New Jersey 🤷‍♂️

[@davidr4523]

Several thoughts 1. This was a very well made video. Great video clips and interviews of the actual players to support the story. 2. This Dick Fuld appears to be a CEO who was reckless, treated people poorly and disliked by everybody. How did he become CEO? Definitely not the admired and loved CEO that Jamie Dimon of JPMorgan is. 3. Fannie Mae and the credit rating companies are also greatly responsible for the financial crash. Giving loans to everyone and then marking these loans as AAA has adverse consequences. 4. Bravo to Hank Paulson and Treasury for refusing to bailout bad actors like Lehman, which has placed some fear in Wall Street. 5. The fact that Fuld was able to earn $500 million during his tenure is outrageous and shows no oversight by the board of directors, which as Warren Buffett correctly calls them as an "good old boys club." 6. It is embarrassing and shocking that the US Government has not put in jail or at least brought criminal charges against Fuld, Angelo Mozilo (Countrywide), Hank Greenberg (AIG) and Raymond McDaniel (Moodys)

[@nasty_slapper]

Jamie Dimon is a farce and fraud, and just as guilty as the rest.

[@aleksamarinkovic355]

its amazing to me that u think there is a big difference between Fuld and Paulson, these people are all intertwined and were all making hundreds of millions of dollars from the system that was doomed to fail long term but short term making an astronomic profit, Paulson pushed the government to pass the law on higher leverage for banks btw. There is nothing that Lehman did that all of the other investment banks didn't. They all knew what was happening, people who could do anything to stop this got paid to do nothing.

[@user-qp2xy5zs7r]

What happened with the recent Epstein case??

[@chilebike6556]

Brilliant documentary.

[@sulmansohailfarooqui]

At that time I used to work near Liverpool Street and used to pass their offices daily. I remember the reverberations of that crash and it's consequences.

[@dylanwoodrow2553]

It's amazingly sounds like pure theft and yet no jail time served. That is for sure 100% why it will happen again

[@vanessawilliams4432]

Of course it's going to happen again! I'm still trying to figure out how in the world a bank gets to the point where the government bales them out along with the car manufacturers?! Then amazingly bank shut down or open under another name along with the car manufacturers either selling to the Japanese or the Chinese, but haven't heard about nobody paying the money back! Now I wish someone would explain to me how that's done, short of walking off with a windfall!!!!!😡

[@therealrobertbirchall]

Writing this in 2023 it is happening again .

[@100perdido]

@@vanessawilliams4432 Good question. Perhaps it's because this money is created inside the banking system. It seems sort of like if we could print our own money and buy stuff with it and if we make a profit, we get to keep the profit. But if it goe bust, we can just print up some more money and start over. But like George Carlin said, "it's a really big club but you ain't in it".

[@hdj81Vlimited]

it was all planned. thats why. it gonne happen again now. Look at the rich, they all are selling there stockshare's..... look at Pelosi.........5.000.000.000$ sold last weeks.

[@heels4lifx]

This was immoral and straight stupid…but not theft. They didn’t go to jail because no law was broken. What these bank ceos deserved was to get fired and not go back into the financial industry. With regulations today and the lack of subprime mortgages, chances of this happening again are low. The recession we are currently in is due to different reasons.

[@alfonsosoriano171]

I don't understand anything about banking or finance, but I watch the whole video because it sounds exciting.

[@larry-2]

Putting well earned money into the stock market can be over emphasize for first time investors unlike a bank where interest is sure thing. Well basically times are uncertain, the stock market is out of control and banks are gradually failing. I’m planning on a ballpark figure of £5m for retirement and I have about £900k loaded up for this, could they be any opportunities for a boomer like me?

[@luis-gabriel1]

As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money, sincerely your best opportunity is seeking a financial advisor unless you’re canny yourself.

[@Hoffmanluiz.]

That’s why I make it a point to speak with a financial advisor before choosing any investments. I’ve been using one since the pandemic, using profits oriented tactics and minimizing risks as a buffer against inevitable downtrends. In addition they have access to insider knowledge and analysis, making failure virtually impossible for them. I’ve made about $3million working with John Desmond Heppolette, my advisor for over three years now.

[@larry-2]

I curiously made a google research of his full names, I came across his web-page on-line. Thanks so much for the information..

[@-Fredrick]

I have learnt not to trust cooperations over the years. I was badly hit by the '08 financial crisis. Since 2019, I’ve been focus on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since i started. I’m never going back to banks full time.

[@williamculligan]

John Desmond Heppolette, really seem to know this stuff. I found his online-page when made a google search of his full names, read through his resume, educational background, qualifications and it was really impressive. I left him a note and booked a call session with him..

[@kumar2ji]

This guy has a face only a mother can love. These guys live on ripping people off and are a dime a dozen.

[@robertdore9592]

They should all be in prison having their $h!t pushed in by some lifer.

[@davids8127]

All investment banks are, JP morgan single handedly bankrupted Greece

[@kumar2ji]

@@davids8127 indeed

[@jakelamotta7904]

Stop crying

[@kumar2ji]

@@jakelamotta7904 Jake LaMotta😃still fighting Jake?

[@rickl4159]

The question is how much did Fuld lose? The captain should go down with the ship. People are being too civil. There needs to be consequences. They need to put the fear of their life in to these people that have the power to ruin other people's lives for their own profit. They have no real fear. There needs to be power in the masses to show what happens to people when they do these things.

[@alfredthegreat9543]

Absolutely. They profit individually whatever happens hence their arrogance in the face of their stupidity. This will only stop when executives are made financially liable.

[@FrekeOne]

nothing. he lost nothing.

[@diannshoemaker6419]

@@alfredthegreat9543 WHAT makes you think the bank heads were stupid??? THEY MADE BILLIONS..ignorance is just their EXCUSE.Compared to them, Madoff was an amateur...and HE'S in prison. Deregulation is a license to steal...THEY walked away rich...

[@tuforu4]

@@FrekeOne guess he a pal of trump or PUTIN.

[@juditthkilach4724]

The best documentary i ever watched...🎉🎉🎉🎉🎉❤❤❤❤❤

[@anthonyboatwright4474]

They all should have gone to prison

[@steveascher1156]

He walked away with Millions and yet......the workers got nothing. Even though they had worked there for many many years. He is most likely sipping wine on a deck chair at his pool, and admiring his huge mansion at the same time.

[@TradingCoachUK]

Top level bankers always get away with it. The workers would of no doubt faced issues having the Lehmann Brothers name on thier CV when looking for thier next role. If there were any left

[@TomFynn]

"Bank of Evil - Formerly Lehman Brothers" - Despicably Me

[@blessed7381]

SO, I'm privileged in the Education that I have access to...The up & Down,History Of!

[@Grimm299]

The mistake wasn't bailing or not bailing out LB, the mistake was letting unsupervised wall street vampires gamble unchecked

[@lewieanderson6579]

Can't wait to see the episode for FTX. Alot still has to play out though.

[@12345fowler]

This bankrupcy is the proof that it can be done. So there is no too big to fail. Many more banks should have been let go to bankrupcies.

[@terrycrews1584]

It ruined the economy for the next 10 years and we are still recovering from it, just because the government wouldn't fund 30 billion, the entire world lost trillions.

[@nunoalexandre6408]

JPMorgan

[@mariahsmom9457]

100% agree. COVID was another example of why bailing anyone out for poor planning wreaks havoc on all of us. Stimulus checks, bailouts- none of it should have happened.

[@ByzantineCapitalManagement]

I'd advocate axing of the Top management rather than letting the Bank fail.

[@beanblues]

@@ByzantineCapitalManagement what would have happened if the bank failed altogether?

[@PH-md8xp]

Excellent documentary, excellent explanation of how the dumpster fire started.

[@JeanJuliusVernal]

Insightful.

[@stevekaragiannis6551]

None of these bankers went to jail Yet we throw in jail a 17 year old for stealing a bottle of aspirin

[@RogueAOV]

The bankruptcy lawyer who could not believe they would let Lehman go bankrupt is also the guy who blames the entire thing on people losing the fear and that risk was not factor. Well if that is not the pot calling the kettle black.

[@ricksanchez5002]

very interesting documentary. Although not mentioned here, the 1930s era Glass -Stegall act was repealed in 1999. The glass-steagall act prohibited banks from doing both investment and commercial banking.

[@memeguyTM]

I like the popular songs in this documentary as well as the RBS one.

[@ThePremel]

Essentially, Repo 105 is an aggressive and deceitful accounting off-balance sheet device which was used to temporarily remove securities and troubled liabilities from Lehman's balance sheet while reporting its quarterly financial results to the public. These transactions were recorded as sales rather than as loans.

[@OpenAirOutreach]

A lesson on the dangers of leverage

[@jamesstuart3346]

Great doc!!!! 😊

[@klaudiagrob]

Great documentary. Banks have too much power.

[@subprime2006]

Lehman Brothers had the name and the ability in bringing massive amount money from the “market” to fund the majority of home loans in the U.S from 1998 to 2008 (Very little or nothing was paying back to those foreign investors (foreign banks). The bottom line is that The U.S did not lose anything because no house or home walks over to Europe or Asia. Thankyou Lehman Brothers & WAMU for sacrificed yourself for the good of the country.

[@sabinabasnet7963]

Can u explain me more please I wanna knoe every detail

[@manueldumont3709]

​@@sabinabasnet7963 ie. Living-Off Other-countries' investments(like Parasites) .

[@manueldumont3709]

​@@sabinabasnet7963 ie. Living-Off Other-countries' investments(like Parasites) .

[@dmor6696]

The loss of value, liquidity, the shockwaves throughout the financial institutions all over the world. They mentioned everything but the loss of life. Every crash creates also death, but none of them mentioned it because that is how much they care, zero. And of course no one was arrested, right? This one i am not sure

[@Lookattheworldaroundyou]

37:20 I was hoping they were going to say it so badly. I needed it. I needed them to say it. so badly i needed it

[@alphakakcmeddlakadoofahkii3362]

Tbh risk pooling is a very common thing, that's how every insurance company operates, the mistake was that the bank didn't see that the risks were not as independent as they thought

[@ryanshuell-mu9sx]

At the end Fuld says he has no idea what happened. Dude...that's the whole point! No one at Lehman knew what was happening. Of course it's going off the rails, because no one was steering the enterprise. One guy totally hit the nail on the head when he said you don't finance long term obligations with short term obligations. No one does that!! I learned that the first day in b-school!! I felt sorry for the lady who lost her entire pension after committing 20 years of her life to the cause. You would think Lehman would have learned from Bear Stearn's mistakes, just six months earlier. Nope.

[@Showmetheevidence-]

This stuff takes way longer than 6 months to setup & then collapse.

[@Tadesan]

It's all just jews taking as much as they can from people.

[@diannshoemaker6419]

@Ryan shuell : OF COURSE Fuld knew what was happening. He, and his cronies were making MILLIONS yearly. Deregulation merely removed the risk TO THEM, LEGALLY. And now they're pretending to be idiot 8yr olds...AND YOU'RE BUYING THAT TOO...

[@bjbell52]

BULLSHIT. I worked at Lehman Brothers and I KNEW their investments in derivatives was bringing the company down. But I was just a computer programmer and had ZERO say so in what Lehman was doing!

[@bjbell52]

@Charles Martell Oh yeah. One of the first ones to go.

[@jcw3195]

Sounds like no one wanted to bail out such a poor, kind hearted, caring human being.

[@RichR65Ct]

This guy reminds me of Mr.Ramsey in the 1956 Rod Serling movie PATTERNS.What a great old movie that was.

[@daleslover2771]

Went on Greyhound from Flordia to Oregon 2010 Flordia Georgia Mississippi & Texas video tape over 3 hrs of construction sites a long the way. Never seen anything like it, complete track housing that where framed,ready for the wireing,insulation and walls to be installed. Payed roads, roll over curb laid. There they were by the hundreds of units weathering in the rain...structures with roofs on. but the walls twisted, distorted, wind and rain blowing them them. It look like something for Rod Sterling Twilight Zone. completely abandoned.

[@diannshoemaker6419]

@Dale Slover: The banks would green light ANYTHING,viable or not. Needed or not. It was the same with what would be the glut of empty new office space...and the east coast wasn't alone in this...

[@reporterwien]

Let the bankers down. But don't let the bank go down and transfer it instead into state property. Three years later you can sell it back to the market with profits. The governments have to be aware again of their (legislative) power and use it against the casino-banking-system.

[@Mortimer_Duke]

Interesting but also very easy shots from even cheaper seats in retrospect.

[@celiaferreira2028]

@25:33 welcome...to my hometown i remember this 😮thats what was behind the scenes

[@geneva760]

"Overall, Fuld received nearly half a billion dollars in total compensation from 1993 to 2007. In 2007, he was paid a total of $22,030,534, which included a base salary of $750,000, a cash bonus of $4,250,000, and stock grants of $16,877,365."

[@lukelewkowicz2233]

Banks were used as medium for greatest of larceny the USA have seen.

[@lukelewkowicz2233]

With the invention of mutual funds on the like of Black Hole that was specific to suck anything related to $$€€ and the like.

[@vickymalhotra7401]

amazing story

[@meetalitalpade]

This makes me feel good about my mistakes. This fools act all high and mighty.

[@DavidWoodworth]

The level of confidence Lehman's people had that somebody would bail them out, no matter what, provides profound insight into how the situation arose in the first place. And then they had the unmitigated gall to talk to the fed about "consequences" if they didn't receive the taxpayer funds that they felt their own recklessness entitled them to.

[@PeterKiryluk]

best line... "the british weren't coming " lol

[@danieldegracia1690]

I understand "trickle down economics", but still, I'm entertained by all this. Feeling immune, "it's great". Ignorance is very, very bliss.

[@MrOC13]

Signature Bank in New York just went under yesterday. Here we go again

[@beenjammin1750]

Comparing the top executives at the biggest banks to the "masters of the universe" is pretty accurate tbh

[@14031993]

*Masters* of the universe

[@beenjammin1750]

@@14031993 thank you I have corrected it now

[@hdj81Vlimited]

the FED does exactly the same thing, PRINTING money from nothing........

[@bjoernaltmann]

It’s called hubris

[@sidmoitra007]

It was a good documentary, thank you for such great content. Appreciate your effort! ❤

[@JohnS-il1dr]

I remember The Clown aka Jim Kramer hyping this firm as a buy. I was laughing when he kept screaming it.

[@mrsardinas]

I want to see Fuld, Skilling and SBF partner up to build a financial company🎉

[@mav7079]

if it were a normal economic cycle, the boom & rally should've been done in 2005-2006, yet it kept going more than a year. that's why amount of pain was elevated too huge into the aftermath. it seems people still can't figure out why it lasted one extra year. if anyone comes up with an idea of what caused it to last, (s)he might deserve the nobel.

[@UpNorthCatsFan]

It’s wild that a banker feels the government should have stepped in so save Lehman Brothers because of the amount money that was lost afterwards because of Lehman brothers collapse. Money is everything to them.

[@brunolameiras17]

The Lehman brothers collapse was just the symptom not the disease!

[@MusehanaH]

How dare government would not use tax payers money to bail out a man who earned $500m a year? 🤔

[@pspearing]

And they're terrified of socialism when it's about protecting people from medical bankruptcy and student loan debt.

[@robertbowman9108]

To hear bankers act as if there important or worthy of the peoples help is sickening. The ego of these people is so perverted.

[@TychoKingdom]

What!? What about capitalism? I don't think real true capitalist should ask the wicked government for money. Let the market regulate itself. And whatever else people say.

[@DestroyerWill]

The worst and most despicable people - this corporate greed is the epitome of what’s wrong with the world then and continues to this day