UNIVARSITY.ORG | The 2008 Financial Crisis: Crash Course Economics #12
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20 Mar The 2008 Financial Crisis: Crash Course Economics #12

Today on Crash Course Economics, Adriene and Jacob talk about the 2008 financial crisis and the US Goverment’s response to the troubles. So, all this starts with home mortgages, and the use of mortgages as an investment instrument. For years, it seemed like the US housing market would go up and up. Like a bubble or something. It turns out it was a bubble. But not the good kind. And the government response was…interesting. Anyway, why are you reading this? Watch the video!

More Financial Crisis Resources:

Financial Crisis Inquiry Report: http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf

TAL: Giant Pool of Money: http://www.thisamericanlife.org/radio-archives/episode/355/the-giant-pool-of-money

Timeline of the crisis: https://www.stlouisfed.org/financial-crisis/full-timeline


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  • MyMagic LouLou
    Posted at 09:38h, 20 March

    When the standard of law is lowered and keep lending to customers that even dont have certain stable income and good credit, well i wonder if that's starting to become disaster. Suppose that they keep high standard, then they still have stable financial situation even though it's not that high, but it will be matter of time when they lowered it eventually.

  • Roi
    Posted at 09:38h, 20 March

    Omg. This is garbage propaganda. It must have been a lack regulation that caused it? You idiots should be ashamed. Whenever there is a financial crisis there will always be some progressive shill to act as an apologist for the government.

  • Jo-Anna Stephenson
    Posted at 09:38h, 20 March

    The gentleman speaks way too fast.

  • Levi Brennan
    Posted at 09:38h, 20 March

    Isnthat f'n A Marx bust behind her!?! smh

  • steve
    Posted at 09:38h, 20 March

    real estate bubble and bailouts. You could have summarize this in that short sentence. What you fail to do is identify why interest rates were low and why lending standards were relaxed. Answer: the fed and the liberals. Greenspan kept interest rates too low for too long. The liberals had lending standards lowered under the community reinvestment act. The Fed and the politicians, not the banks or regulations or the lack thereof, caused the crisis. Indentify the real culprits.

  • -FicTioN- [777]
    Posted at 09:38h, 20 March

    Correct me if im wrong, but basically, these investors "invest on the houses itself" (Mortgage-Backed Security) and not invest into more stocks which is much more liquid than house..?

  • DarkFang
    Posted at 09:38h, 20 March

    could you please slow down, you guys are talking way to fast. My teammates and I had to slow your video down to 0.5 just to take notes form this.

  • Voltage90e
    Posted at 09:38h, 20 March

    Made loans without verifying income. ABSURD!

  • Pika817
    Posted at 09:38h, 20 March

    I just heard that there was a bill that was pushed through before the crash that put racial quotas on lending approval rates. I have no idea if this is true or not – does anybody have any facts on this?

  • Peter Degroot
    Posted at 09:38h, 20 March

    Can someone tell me why the government bailed out the banks when they created the problem lol? Is there a law in place for this situation? Why weren't the banks prosecuted??

  • 1111 tiger
    Posted at 09:38h, 20 March

    Did they try turning it on and off?

  • Wade Davis
    Posted at 09:38h, 20 March

    In a perfect America, these internationalist bankers and leftists would be hanging for treason. They see this county and its people as a mechanism to achieve their goals.

  • Papope Mueanpaopong
    Posted at 09:38h, 20 March

    Thumbs up if you came to this before watching The Big Short

  • SpecialK6685
    Posted at 09:38h, 20 March

    What about the role the government played in pushing for loans to be paid for people that were not good credit risks? The government pressured banks to make ones to disadvantaged people in order to increase home ownership while simultaneously providing insurance against loss in the form of private mortgage insurance. If you're being forced or pressured by the government to make badd loans while simultaneously being insured against loss, why wouldn't you? If the banks were left to their own devices and they had to accept risk they would have stuck with the tried and true plan of a potential buyer having to have really good credit , long term financial stability and 20% down on a home. This criteria would have ensured that any mortgages that were made would have been far less risky. Now I would have also met less people would eventually own a home but I don't think collapse seen the world economy is worth somebody having a house that can't actually afford one.

  • Crystal Walker
    Posted at 09:38h, 20 March

    Thank you for this. You took a very complex topic and made it super easy to understand.

  • Happy gO Lucky
    Posted at 09:38h, 20 March

    This was all intentional. Its not worth owning a home unless its paid in full

  • Royle Hun
    Posted at 09:38h, 20 March

    China grew 23% in 2008, a lot of Asian countries grew

  • Nouraiz Saeed
    Posted at 09:38h, 20 March

    so amazing video , that video gives a lot of information about financial crises , now i understand ,what the main causes of financial crises , thank you mam and sir…..

  • NixterCool
    Posted at 09:38h, 20 March

    Alright, we all know the banks, the government, the home owners, the insurance companies, and the bond traders all lost a great deal of money. But no equation is balanced without a side which gained and a side which lost. So who benefitted from the 2008 crash? It is impossible that everyone lost. Someone must have won. Who ended up with all of the lost money?

  • Ei8htBernal
    Posted at 09:38h, 20 March

    my mans really wore an AC / DC belt to the shoot