• Financial Crisis Inquiry Commissioner Peter Wallison Questions Warren Buffet.

    On June 2, 2010 Warren Buffett testified at a hearing before the Financial Crisis Inquiry Commission. Commission member Peter Wallison asked Buffett several good questions and got very good answers. I copied that portion of the C-SPAN video that has those questions and answers. I hope you find it interesting.

    published: 11 Apr 2011
  • What Caused the 2008 Financial Collapse? Finance Industry: Goldman Sachs, JP Morgan (2010)

    The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale to investors, a type of securitization; and a form of credit insurance called credit default swaps (CDS). The usage of these products expanded dramatically in the years leading up to the crisis. These products vary in complexity and the ease with which they can be valued on the books of financial institutions. CDO issuance grew from an estimat...

    published: 17 Sep 2014
  • Introduction to the Financial Crisis Inquiry Commission

    The Financial Crisis Inquiry Commission is a bipartisan commission that has been given a critical non-partisan mission — to examine the causes of the financial crisis that has gripped the country and to report our findings to the Congress, the President, and the American people. Hopefully, the Commission's work can help rebuild the American people's belief in a financial system that puts Americans to work, fulfills their goals and provides the foundation for a new era of broadly shared prosperity.

    published: 12 Jan 2010
  • 2008 Financial Crisis and Fannie Mai, Day 3 (Part 2 of 2)

    2008 Financial Crisis and Fannie Mai, Day 3 (Part 2 of 2) - mars-1a:hrs01E_C2123_100409.2 - Rayburn 2123 - Committee on Energy and Commerce - 2010-04-09 - Financial Crisis Inquiry Commission. Report Video Issue Financial Crisis Inquiry Commission. In the third of three days of hearings held by the bipartisan Financial Crisis Inquiry Commission (FCIC), former Fannie Mae executives Robert Levin and Daniel Mudd testified in the role of their company in the housing market collapse. They faulted Fannie Mae's backing of riskier mortgages on pressures related to increased competition from Wall Street firms and the goal of increasing home ownership. Mr. Mudd in his testimony did not apologize for his company's collapse but stated, "I accept responsibility for everything that happened on my watch....

    published: 21 Nov 2011
  • Heated exchange as CEO of investment bank testifies, protest

    (28 Apr 2010) TRUE DATE CREATED = 28-04-2010 1. Goldman Sachs CEO Lloyd Blankfein being sworn in for testimony at a Capitol Hill hearing, push in to Senator Carl Levin 2. Wide shot of Senate panel 3. SOUNDBITE: (English) Lloyd Blankfein, Goldman Sachs CEO: "The people who were coming to us for risk in the housing market wanted to have a security that gave them exposure to the housing market, and that''s what they got. The unfortunate thing, and it''s unfortunate but it doesn''t, is that the housing market went south very quickly after some of these securities, not all of them because some of them were done early, but they went. And so people lost money in it, but the security itself delivered the specific exposure that the client wanted to have." 4. SOUNDBITE: (English) Senator Carl...

    published: 24 Jul 2015
  • Banks Too Big: Goldman Sachs Criminals, Hillary Clinton vs. Bernie Sanders

    Elizabeth Warren Destroys Janet Yellen Over JPMor…: http://youtu.be/XYtSMLgaW6U Americans have learned a lot in recent years about how our largest financial institutions make their money. But few would have imagined that a million and a half tons of aluminum -- a quarter of the national supply at any given moment -- typically sits in a network of 27 Detroit warehouses owned by Goldman Sachs. And hardly anyone would have thought that manufacturers seeking to purchase that aluminum might wait 18 months or more for delivery, while warehouse owners like Goldman Sachs collect additional rent, paid for by consumers of aluminum products ranging from beer cans to home siding. http://www.thesoapboxroadshow.com/ WASHINGTON - Concluding a two-year bipartisan investigation, Senator Carl Levin, D-Mic...

    published: 31 May 2011
  • 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 htt...

    published: 21 Oct 2015
  • PANEL: The Financial Crisis Inquiry Commission Report: Five Years Later

    R Street Institute panel held on February 4, 2016. Featuring: Douglas Holtz-Eakin, American Action Forum; Edward Murphy, Congressional Research Service; Tom Stanton, Johns Hopkins; Philip Wallach, Brookings Institution; Peter Wallison, American Enterprise Institute; Alex J. Pollock, R Street Institute (Moderator).

    published: 05 Feb 2016
  • Angelides Discusses Investigation of Financial Crisis: Video

    Nov. 18 (Bloomberg) -- Philip Angelides, chairman of the Financial Crisis Inquiry Commission, talks with Bloomberg Television about investigating what caused the financial crisis. (Source: Bloomberg)

    published: 23 Mar 2012
  • Financial crisis inquiry begins

    Will commission lead to legislation and criminal prosecution, or just more cathartic theater? Political economist Tom Ferguson and McClatchy Newspapers Economics Correspondent Kevin G. Hall sit down with Real News Network Senior Editor Paul Jay to discuss the opening act of the new US government commission.

    published: 14 Jan 2010
  • 2008 Financial Crisis: Credit Rating Agencies commit fraud/ incompetence

    http://www.thesoapboxroadshow.com/ Introductory Statement by Chairman Carl Levin - From Senate Committee hearings. The credit rating agencies are; Moody's, Standard and Poors, and Fitch....QUOTE: "Concluding a two-year bipartisan investigation, Senator Carl Levin, D-Mich., and Senator Tom Coburn M.D., R-Okla., Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations, today released a 635-page final report (PDF, 6MB) on their inquiry into key causes of the financial crisis. The report catalogs conflicts of interest, heedless risk-taking and failures of federal oversight that helped push the country into the deepest recession since the Great Depression." http://levin.senate.gov/newsroom/supporting/2011/PSI_WallStreetCrisis_041311.pdf

    published: 09 May 2011
  • Investment Banks and the Financial Crisis: Goldman Sachs' Chair and CEO (2010)

    The 2008 financial credit crisis led to the notable collapse of several banks, notably including the bankruptcy of large investment bank Lehman Brothers and the . The 2017 financial credit crisis led to the notable collapse of several banks, notably including the bankruptcy of large investment bank Lehman Brothers and the . TRUE DATE CREATED = 28-04-2010 1. Goldman Sachs CEO Lloyd Blankfein being sworn in for testimony at a Capitol Hill hearing, push in to Senator Carl . Elizabeth Warren Destroys Janet Yellen Over JPMor…: Americans have learned a lot in recent years about how our largest .

    published: 26 Mar 2017
  • June 2, 2010 - Heather Murren, Financial Crisis Inquiry Commissioner Asks Warren Buffet A Question

    During a June 2, 2010 Financial Crisis Inquiry Commission Hearing Heather Murren asks Warren Buffett a question relating to investment reserch independence and how incentives relate to research quality. (Look up: Heather Murren on Wikipedia)

    published: 11 Apr 2011
  • How Housing Policy Caused the Financial Crisis

    The 2008 financial crisis "proved that financial markets are not self-regulating," says political scientist Francis Fukuyama in a recent interview with the website TheBrowser: "[Peter Wallison] lays it all at the door of Fannie and Freddie and government intervention. It seems to me transparently designed to exonerate free markets...I like free markets...[but] that particular conclusion I just find astonishing." Fukuyama isn't alone in depicting Wallison as an uncomprimising ideologue who thinks government deserves all the blame. New York Times columnist Joe Nocera called Wallison's work "loony" and accused him of helping to concoct "what has since become a Republican meme." Even pro-free market economist Russ Roberts took Wallison to task for downplaying the role of investment banks in ...

    published: 12 Mar 2012
  • The Whitewash Commission: Inside Stories from the Financial Crisis Inquiry Commission

    A mini documentary about the FCIC: Peter Wallison, commissioner of the FCIC, and Ed Pinto, former chief credit officer for Fannie Mae, talk about the true purpose of the Financial Crisis Inquiry Commission.

    published: 28 Jun 2015
  • Financial Services Hearing on Financial Crisis Inquiry Commission Report

    Blaine questions witnesses during the House Financial Services Committee hearing on Wednesday, February 16, to review the reports issued by Financial Crisis Inquiry Commission. In 2009, Congress established the Financial Crisis Inquiry Commission, comprising six Democrats and four Republicans, to investigate the causes of the financial crisis and report its findings to Congress on December 15. The Commission missed its deadline and failed to reach consensus on the causes of the crisis. More than a month after its deadline, the Commission published three reports: one written by the Democratic Commissioners, a second written by three of the Republican Commissioners, and a third one by the fourth Republican Commissioner. The statute creating the Commission requires the Financial Servic...

    published: 17 Feb 2011
  • US financial crisis was 'avoidable'

    Wall Street executives, US regulatory agencies, and the US federal reserve are all being blamed in a new report into the causes of the 2008 financial meltdown. The country's presidential commission also concluded the financial meltdown could have been avoided altogether. But even as it wraps up its two year inquiry, the 10-member panel remains sharply divided over the causes. The report reflects the views of six Democrats - while the four Republicans have written dissenting opinions. It also lays much of the blame on what it says are the "reckless" practices of financial firms like Fannie Mae, AIG and Bear Stearns. It says poor controls led to excessive borrowing and risky investments on mortgages. It also faults "weak" government regulators like the Securities and Ex...

    published: 27 Jan 2011
  • Financial Crisis Inquiry Commission Report - 1/3

    Financial Crisis Inquiry Commission (FCIC) Report Angelides: "People Want To Know How This Happened and Why It Happened." February 11, 2011 • 12:44 PM In his second interview with WNYC's Brian Lehrer, cut short because of breaking developments in Egypt, FCIC head Phil Angelides continued to promote circulation of the FCIC's Final Report (which continues to get scant coverage in the media), and called for more aggressive federal action to deal with the continuing foreclosure crisis. Asked about the coming second wave of foreclosures, Angelides said that what's driving this is the high level of prolonged unemployment, and also the inability of homeowners to modify their mortgages. The complex securitization process makes it very hard to unwind these mortgages and establish ownership, Angeli...

    published: 11 Feb 2011
  • Chairman of the Financial Crisis Inquiry Commission; Financial System Still at Risk

    Jan. 27 (Bloomberg) -- Phil Angelides, the Democratic chairman of the Financial Crisis Inquiry Commission, talks about the group's report published today. The report blames Washington regulators and Wall Street banks equally for failures leading to the crisis. The findings weren't endorsed by the commission's four Republican members, who wrote two dissents and criticized decisions by the chairman. Angelides speaks with Peter Cook on Bloomberg Television's "InBusiness." You can download "THE FINANCIAL CRISIS INQUIRY REPORT" Here: http://www.scribd.com/doc/47754964/The-Financial-Crisis-Inquiry-Report FAIR USE NOTICE: This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material a...

    published: 29 Jan 2011
  • Govt. Inquiry: Financial Crisis Was Avoidable

    From the New York Times: According to the conclusions of a federal inquiry, the 2008 financial crisis was an "avoidable" disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street. The commission that investigated the crisis casts a wide net of blame, faulting two administrations, the Federal Reserve and other regulators for permitting a calamitous concoction: shoddy mortgage lending, the excessive packaging and sale of loans to investors and risky bets on securities backed by the loans.

    published: 05 Feb 2011
  • Peter Schiff Responds to Financial Crisis Inquiry Commission

    The only thing FCIC need to do was read his book, Schiff says.

    published: 28 Jan 2011
  • CNN: Angelides examines the financial crisis

    Financial Crisis Inquiry Comm. chair Phil Angelides says Wall Street is trying to rewrite the history of the crisis.

    published: 19 Apr 2011
  • Bloomberg Television - Financial Crisis Inquiry Panel Probes CEOs - Brian Weiss

    Congressionally-appointed Financial Crisis Inquiry Panel summons four bank CEOs to Washington. Brian Weiss reports.

    published: 23 Dec 2009
  • Who Caused the Financial Crisis?

    In this brief video-clip Warren Buffett explains the forces that caused the real estate bubble, and the mortgage crisis, which led to the broader financial crisis (with reference to Tulip Mania, The South Sea Bubble, and Isaac Newton). This video is a brief excerpt from a longer video of Warren Buffet's testimony to the Financial Crisis Inquiry Commission, which I posted on YouTube two years ago, titled, "What Caused It".

    published: 12 Nov 2013
Financial Crisis Inquiry Commissioner Peter Wallison Questions Warren Buffet.

Financial Crisis Inquiry Commissioner Peter Wallison Questions Warren Buffet.

  • Order:
  • Duration: 9:53
  • Updated: 11 Apr 2011
  • views: 30504
videos
On June 2, 2010 Warren Buffett testified at a hearing before the Financial Crisis Inquiry Commission. Commission member Peter Wallison asked Buffett several good questions and got very good answers. I copied that portion of the C-SPAN video that has those questions and answers. I hope you find it interesting.
https://wn.com/Financial_Crisis_Inquiry_Commissioner_Peter_Wallison_Questions_Warren_Buffet.
What Caused the 2008 Financial Collapse? Finance Industry: Goldman Sachs, JP Morgan (2010)

What Caused the 2008 Financial Collapse? Finance Industry: Goldman Sachs, JP Morgan (2010)

  • Order:
  • Duration: 3:23:52
  • Updated: 17 Sep 2014
  • views: 43311
videos
The term financial innovation refers to the ongoing development of financial products designed to achieve particular client objectives, such as offsetting a particular risk exposure (such as the default of a borrower) or to assist with obtaining financing. Examples pertinent to this crisis included: the adjustable-rate mortgage; the bundling of subprime mortgages into mortgage-backed securities (MBS) or collateralized debt obligations (CDO) for sale to investors, a type of securitization; and a form of credit insurance called credit default swaps (CDS). The usage of these products expanded dramatically in the years leading up to the crisis. These products vary in complexity and the ease with which they can be valued on the books of financial institutions. CDO issuance grew from an estimated $20 billion in Q1 2004 to its peak of over $180 billion by Q1 2007, then declined back under $20 billion by Q1 2008. Further, the credit quality of CDO's declined from 2000 to 2007, as the level of subprime and other non-prime mortgage debt increased from 5% to 36% of CDO assets.[118] As described in the section on subprime lending, the CDS and portfolio of CDS called synthetic CDO enabled a theoretically infinite amount to be wagered on the finite value of housing loans outstanding, provided that buyers and sellers of the derivatives could be found. For example, buying a CDS to insure a CDO ended up giving the seller the same risk as if they owned the CDO, when those CDO's became worthless. This boom in innovative financial products went hand in hand with more complexity. It multiplied the number of actors connected to a single mortgage (including mortgage brokers, specialized originators, the securitizers and their due diligence firms, managing agents and trading desks, and finally investors, insurances and providers of repo funding). With increasing distance from the underlying asset these actors relied more and more on indirect information (including FICO scores on creditworthiness, appraisals and due diligence checks by third party organizations, and most importantly the computer models of rating agencies and risk management desks). Instead of spreading risk this provided the ground for fraudulent acts, misjudgments and finally market collapse.[120] In 2005 a group of computer scientists built a computational model for the mechanism of biased ratings produced by rating agencies,[121] which turned out to be adequate to what actually happened in 2006–2008.[citation needed] Martin Wolf further wrote in June 2009 that certain financial innovations enabled firms to circumvent regulations, such as off-balance sheet financing that affects the leverage or capital cushion reported by major banks, stating: "...an enormous part of what banks did in the early part of this decade – the off-balance-sheet vehicles, the derivatives and the 'shadow banking system' itself – was to find a way round regulation." http://en.wikipedia.org/wiki/Financial_collapse_of_2007%E2%80%932008
https://wn.com/What_Caused_The_2008_Financial_Collapse_Finance_Industry_Goldman_Sachs,_Jp_Morgan_(2010)
Introduction to the Financial Crisis Inquiry Commission

Introduction to the Financial Crisis Inquiry Commission

  • Order:
  • Duration: 2:30
  • Updated: 12 Jan 2010
  • views: 12200
videos
The Financial Crisis Inquiry Commission is a bipartisan commission that has been given a critical non-partisan mission — to examine the causes of the financial crisis that has gripped the country and to report our findings to the Congress, the President, and the American people. Hopefully, the Commission's work can help rebuild the American people's belief in a financial system that puts Americans to work, fulfills their goals and provides the foundation for a new era of broadly shared prosperity.
https://wn.com/Introduction_To_The_Financial_Crisis_Inquiry_Commission
2008 Financial Crisis and Fannie Mai, Day 3 (Part 2 of 2)

2008 Financial Crisis and Fannie Mai, Day 3 (Part 2 of 2)

  • Order:
  • Duration: 2:14:56
  • Updated: 21 Nov 2011
  • views: 1054
videos
2008 Financial Crisis and Fannie Mai, Day 3 (Part 2 of 2) - mars-1a:hrs01E_C2123_100409.2 - Rayburn 2123 - Committee on Energy and Commerce - 2010-04-09 - Financial Crisis Inquiry Commission. Report Video Issue Financial Crisis Inquiry Commission. In the third of three days of hearings held by the bipartisan Financial Crisis Inquiry Commission (FCIC), former Fannie Mae executives Robert Levin and Daniel Mudd testified in the role of their company in the housing market collapse. They faulted Fannie Mae's backing of riskier mortgages on pressures related to increased competition from Wall Street firms and the goal of increasing home ownership. Mr. Mudd in his testimony did not apologize for his company's collapse but stated, "I accept responsibility for everything that happened on my watch." Congress formed the ten-member FCIC in May 2009 to examine the causes of the financial markets meltdown. Description from C-SPAN.
https://wn.com/2008_Financial_Crisis_And_Fannie_Mai,_Day_3_(Part_2_Of_2)
Heated exchange as CEO of investment bank testifies, protest

Heated exchange as CEO of investment bank testifies, protest

  • Order:
  • Duration: 3:00
  • Updated: 24 Jul 2015
  • views: 124185
videos
(28 Apr 2010) TRUE DATE CREATED = 28-04-2010 1. Goldman Sachs CEO Lloyd Blankfein being sworn in for testimony at a Capitol Hill hearing, push in to Senator Carl Levin 2. Wide shot of Senate panel 3. SOUNDBITE: (English) Lloyd Blankfein, Goldman Sachs CEO: "The people who were coming to us for risk in the housing market wanted to have a security that gave them exposure to the housing market, and that''s what they got. The unfortunate thing, and it''s unfortunate but it doesn''t, is that the housing market went south very quickly after some of these securities, not all of them because some of them were done early, but they went. And so people lost money in it, but the security itself delivered the specific exposure that the client wanted to have." 4. SOUNDBITE: (English) Senator Carl Levin, Subcommittee Chairman of Homeland Security Committee: "You don''t believe it''s relevant to a customer of yours that you are selling a security to that you are betting against that same security. You just don''t think it''s relevant and needs to be disclosed. Is that the bottom line?" 5. SOUNDBITE: (English) Lloyd Blankfein, Goldman Sachs CEO: "Yes, and the people who are selling it in our firm wouldn''t even know what the firm''s position is." 6. Blankfein sitting before Senate panel 7. SOUNDBITE: (English) Senator Carl Levin, Subcommittee Chairman of Homeland Security Committee: "You are taking a position against the very security that you are selling and you are not troubled?" Blankfein: "Senator, again." Levin: "And you want people to believe to trust you?" Blankfein: "Senator I think people do trust us." Levin: "Why, I wouldn''t trust you. If you came to me and wanted to sell me securities and you didn''t tell me that you have a bet against that same security, you don''t think that affects my thinking?" 8. Wide shot of protesters in prison uniforms with Goldman officials'' names around their necks 9. SOUNDBITE: (English) Senator Claire McCaksill, Homeland Security Committee: ++starts on pan of witnesses++ "We have spent a lot of time going through all these documents, and let me just explain in very simple terms what synthetic CDOs are. They are instruments that are created so that people can bet on them. It''s the la-la-land of ledger entries. It''s not investment in a business that has a good idea. It''s not assisting local governments and building infrastructure. It''s gambling, pure and simple, raw gambling." 10. Witnesses seated at table 11. SOUNDBITE: (English) Michael Swenson, Managing Director, Structured Products Group Trading, Goldman Sachs: "We did not cause the financial crisis, specifically to the mortgage desk, which is what I''m here to speak about. You have two panels in subsequent meetings to speak about that, about the Goldman Sachs and our businesses. We, I do no think that we did anything wrong." 12. Mid shot of clerk taking notes STORYLINE: Defending his company under blistering criticism, the CEO of Goldman Sachs testily told sceptical US senators on Tuesday that customers who bought securities from the Wall Street giant in the run-up to a national financial crisis came looking for risk. Lloyd Blankfein and other Goldman executives were lambasted by lawmakers for "unbridled greed" in an often-electric daylong showdown between Wall Street and Congress - with expletives frequently undeleted. Unrepentant, five present and two past Goldman officials unflinchingly stood by their conduct before a Senate investigatory panel and denied helping to cause the financial near-meltdown that turned into the worst recession since the Great Depression. "Unfortunately, the housing market went south very quickly," Blankfein told sceptical senators. "So people lost money in it." You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/b26ad6044e5469084381560537c68384 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
https://wn.com/Heated_Exchange_As_Ceo_Of_Investment_Bank_Testifies,_Protest
Banks Too Big: Goldman Sachs Criminals, Hillary Clinton vs. Bernie Sanders

Banks Too Big: Goldman Sachs Criminals, Hillary Clinton vs. Bernie Sanders

  • Order:
  • Duration: 7:06
  • Updated: 31 May 2011
  • views: 231627
videos
Elizabeth Warren Destroys Janet Yellen Over JPMor…: http://youtu.be/XYtSMLgaW6U Americans have learned a lot in recent years about how our largest financial institutions make their money. But few would have imagined that a million and a half tons of aluminum -- a quarter of the national supply at any given moment -- typically sits in a network of 27 Detroit warehouses owned by Goldman Sachs. And hardly anyone would have thought that manufacturers seeking to purchase that aluminum might wait 18 months or more for delivery, while warehouse owners like Goldman Sachs collect additional rent, paid for by consumers of aluminum products ranging from beer cans to home siding. http://www.thesoapboxroadshow.com/ WASHINGTON - Concluding a two-year bipartisan investigation, Senator Carl Levin, D-Mich., and Senator Tom Coburn M.D., R-Okla., Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations, today released a 635-page final report (PDF, 6MB) on their inquiry into key causes of the financial crisis. The report catalogs conflicts of interest, heedless risk-taking and failures of federal oversight that helped push the country into the deepest recession since the Great Depression. http://levin.senate.gov/imo/media/doc/supporting/2011/PSI_WallStreetCrisis_041311.pdf
https://wn.com/Banks_Too_Big_Goldman_Sachs_Criminals,_Hillary_Clinton_Vs._Bernie_Sanders
The 2008 Financial Crisis: Crash Course Economics #12

The 2008 Financial Crisis: Crash Course Economics #12

  • Order:
  • Duration: 11:25
  • Updated: 21 Oct 2015
  • views: 751700
videos
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 http://www.economist.com/news/schoolsbrief/21584534-effects-financial-crisis-are-still-being-felt-five-years-article Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Fatima Iqbal, Penelope Flagg, Eugenia Karlson, Alex S, Jirat, Tim Curwick, Christy Huddleston, Eric Kitchen, Moritz Schmidt, Today I Found Out, Avi Yashchin, Chris Peters, Eric Knight, Jacob Ash, Simun Niclasen, Jan Schmid, Elliot Beter, Sandra Aft, SR Foxley, Ian Dundore, Daniel Baulig, Jason A Saslow, Robert Kunz, Jessica Wode, Steve Marshall, Anna-Ester Volozh, Christian, Caleb Weeks, Jeffrey Thompson, James Craver, and Markus Persson -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
https://wn.com/The_2008_Financial_Crisis_Crash_Course_Economics_12
Angelides Discusses Investigation of Financial Crisis: Video

Angelides Discusses Investigation of Financial Crisis: Video

  • Order:
  • Duration: 1:04
  • Updated: 23 Mar 2012
  • views: 63
videos
Nov. 18 (Bloomberg) -- Philip Angelides, chairman of the Financial Crisis Inquiry Commission, talks with Bloomberg Television about investigating what caused the financial crisis. (Source: Bloomberg)
https://wn.com/Angelides_Discusses_Investigation_Of_Financial_Crisis_Video
Financial crisis inquiry begins

Financial crisis inquiry begins

  • Order:
  • Duration: 10:25
  • Updated: 14 Jan 2010
  • views: 4700
videos
Will commission lead to legislation and criminal prosecution, or just more cathartic theater? Political economist Tom Ferguson and McClatchy Newspapers Economics Correspondent Kevin G. Hall sit down with Real News Network Senior Editor Paul Jay to discuss the opening act of the new US government commission.
https://wn.com/Financial_Crisis_Inquiry_Begins
2008 Financial Crisis: Credit Rating Agencies commit fraud/ incompetence

2008 Financial Crisis: Credit Rating Agencies commit fraud/ incompetence

  • Order:
  • Duration: 4:02
  • Updated: 09 May 2011
  • views: 14316
videos
http://www.thesoapboxroadshow.com/ Introductory Statement by Chairman Carl Levin - From Senate Committee hearings. The credit rating agencies are; Moody's, Standard and Poors, and Fitch....QUOTE: "Concluding a two-year bipartisan investigation, Senator Carl Levin, D-Mich., and Senator Tom Coburn M.D., R-Okla., Chairman and Ranking Republican on the Senate Permanent Subcommittee on Investigations, today released a 635-page final report (PDF, 6MB) on their inquiry into key causes of the financial crisis. The report catalogs conflicts of interest, heedless risk-taking and failures of federal oversight that helped push the country into the deepest recession since the Great Depression." http://levin.senate.gov/newsroom/supporting/2011/PSI_WallStreetCrisis_041311.pdf
https://wn.com/2008_Financial_Crisis_Credit_Rating_Agencies_Commit_Fraud_Incompetence
Investment Banks and the Financial Crisis: Goldman Sachs' Chair and CEO (2010)

Investment Banks and the Financial Crisis: Goldman Sachs' Chair and CEO (2010)

  • Order:
  • Duration: 5:12:36
  • Updated: 26 Mar 2017
  • views: 4897
videos
The 2008 financial credit crisis led to the notable collapse of several banks, notably including the bankruptcy of large investment bank Lehman Brothers and the . The 2017 financial credit crisis led to the notable collapse of several banks, notably including the bankruptcy of large investment bank Lehman Brothers and the . TRUE DATE CREATED = 28-04-2010 1. Goldman Sachs CEO Lloyd Blankfein being sworn in for testimony at a Capitol Hill hearing, push in to Senator Carl . Elizabeth Warren Destroys Janet Yellen Over JPMor…: Americans have learned a lot in recent years about how our largest .
https://wn.com/Investment_Banks_And_The_Financial_Crisis_Goldman_Sachs'_Chair_And_Ceo_(2010)
June 2, 2010 - Heather Murren, Financial Crisis Inquiry Commissioner Asks Warren Buffet A Question

June 2, 2010 - Heather Murren, Financial Crisis Inquiry Commissioner Asks Warren Buffet A Question

  • Order:
  • Duration: 2:27
  • Updated: 11 Apr 2011
  • views: 1435
videos
During a June 2, 2010 Financial Crisis Inquiry Commission Hearing Heather Murren asks Warren Buffett a question relating to investment reserch independence and how incentives relate to research quality. (Look up: Heather Murren on Wikipedia)
https://wn.com/June_2,_2010_Heather_Murren,_Financial_Crisis_Inquiry_Commissioner_Asks_Warren_Buffet_A_Question
How Housing Policy Caused the Financial Crisis

How Housing Policy Caused the Financial Crisis

  • Order:
  • Duration: 5:46
  • Updated: 12 Mar 2012
  • views: 16183
videos
The 2008 financial crisis "proved that financial markets are not self-regulating," says political scientist Francis Fukuyama in a recent interview with the website TheBrowser: "[Peter Wallison] lays it all at the door of Fannie and Freddie and government intervention. It seems to me transparently designed to exonerate free markets...I like free markets...[but] that particular conclusion I just find astonishing." Fukuyama isn't alone in depicting Wallison as an uncomprimising ideologue who thinks government deserves all the blame. New York Times columnist Joe Nocera called Wallison's work "loony" and accused him of helping to concoct "what has since become a Republican meme." Even pro-free market economist Russ Roberts took Wallison to task for downplaying the role of investment banks in causing the crisis. So who is Peter Wallison? He's a scholar at The American Enterprise Institute and was a leading member of the 10-person Financial Crisis Inquiry Commission, a government-created body charged with looking into the causes of the 2008 meltdown. After a year of hearings and deliberation, the commission produced its official report which laid most of the blame on deregulation and private sector avarice. Wallison publicly broke with the commission over the report. "Instead of pursuing a thorough study," says Wallison, "the commission's majority used its extensive statutory investigative authority to seek only the facts that supported its initial assumptions - that the crisis was caused by 'deregulation' or lax regulation, greed and recklessness on Wall Street, predatory lending in the mortgage market, unregulated derivatives, and a financial system addicted to excessive risk taking." Wallison published his version of what caused the crisis in a 93-page dissent, which argues that the meltdown was largely a consequence of government housing policy that underwrote unsustainable economic activity. He draws heavily on the research of Fannie Mae's former chief credit officer, Edward Pinto, which found that federal housing agencies drastically underreported the number of high-risk mortgages on their books. According to Wallison and Pinto, there were about 28 million high-risk mortgages in the U.S. in 2008; roughly 70 percent of those mortgages were owned by government-sponosored enterprises such as Fannie Mae and Freddie Mac. Wallison sat down with Reason Foundation's Anthony Randazzo in January to talk about the causes of the 2008 financial crisis, what to do about Fannie Mae and Freddie Mac, and why he's not guilty of trying to "exonerate" Wall Street banks. This interview was excerpted from a much-longer conversation, a transcript of which can be found here, here, and here. Produced, shot, and edited by Jim Epstein. About 6 minutes. Go to http://Reason.tv for downloadable versions and subscribe to Reason.tv's YouTube Channel to receive automatic updates when new material goes live.
https://wn.com/How_Housing_Policy_Caused_The_Financial_Crisis
The Whitewash Commission: Inside Stories from the Financial Crisis Inquiry Commission

The Whitewash Commission: Inside Stories from the Financial Crisis Inquiry Commission

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  • Duration: 20:18
  • Updated: 28 Jun 2015
  • views: 293
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A mini documentary about the FCIC: Peter Wallison, commissioner of the FCIC, and Ed Pinto, former chief credit officer for Fannie Mae, talk about the true purpose of the Financial Crisis Inquiry Commission.
https://wn.com/The_Whitewash_Commission_Inside_Stories_From_The_Financial_Crisis_Inquiry_Commission
Financial Services Hearing on Financial Crisis Inquiry Commission Report

Financial Services Hearing on Financial Crisis Inquiry Commission Report

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  • Duration: 5:40
  • Updated: 17 Feb 2011
  • views: 637
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Blaine questions witnesses during the House Financial Services Committee hearing on Wednesday, February 16, to review the reports issued by Financial Crisis Inquiry Commission. In 2009, Congress established the Financial Crisis Inquiry Commission, comprising six Democrats and four Republicans, to investigate the causes of the financial crisis and report its findings to Congress on December 15. The Commission missed its deadline and failed to reach consensus on the causes of the crisis. More than a month after its deadline, the Commission published three reports: one written by the Democratic Commissioners, a second written by three of the Republican Commissioners, and a third one by the fourth Republican Commissioner. The statute creating the Commission requires the Financial Services Committee to hold a hearing on the Commission's findings not later than 120 days after it issues its final report.
https://wn.com/Financial_Services_Hearing_On_Financial_Crisis_Inquiry_Commission_Report
US financial crisis was 'avoidable'

US financial crisis was 'avoidable'

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  • Duration: 1:49
  • Updated: 27 Jan 2011
  • views: 3688
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Wall Street executives, US regulatory agencies, and the US federal reserve are all being blamed in a new report into the causes of the 2008 financial meltdown. The country's presidential commission also concluded the financial meltdown could have been avoided altogether. But even as it wraps up its two year inquiry, the 10-member panel remains sharply divided over the causes. The report reflects the views of six Democrats - while the four Republicans have written dissenting opinions. It also lays much of the blame on what it says are the "reckless" practices of financial firms like Fannie Mae, AIG and Bear Stearns. It says poor controls led to excessive borrowing and risky investments on mortgages. It also faults "weak" government regulators like the Securities and Exchange Commission and US Central Bank - for failing to rein in the banks they supervised. Singled out is former Federal Reserve Chairman Alan Greenspan - for backing de-regulation practies that accelerated the sub-prime mortgage crisis. Lobbyists are also being heavily blamed. Al Jazeera's Nick Spicer reports.
https://wn.com/US_Financial_Crisis_Was_'avoidable'
Financial Crisis Inquiry Commission Report - 1/3

Financial Crisis Inquiry Commission Report - 1/3

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  • Duration: 10:47
  • Updated: 11 Feb 2011
  • views: 993
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Financial Crisis Inquiry Commission (FCIC) Report Angelides: "People Want To Know How This Happened and Why It Happened." February 11, 2011 • 12:44 PM In his second interview with WNYC's Brian Lehrer, cut short because of breaking developments in Egypt, FCIC head Phil Angelides continued to promote circulation of the FCIC's Final Report (which continues to get scant coverage in the media), and called for more aggressive federal action to deal with the continuing foreclosure crisis. Asked about the coming second wave of foreclosures, Angelides said that what's driving this is the high level of prolonged unemployment, and also the inability of homeowners to modify their mortgages. The complex securitization process makes it very hard to unwind these mortgages and establish ownership, Angelides said, adding, "we've created a very tangled web." Saying that more aggressive federal action is needed, Angelides pointed out that in the 1930s, Franklin Roosevelt created a home-ownership assistance program, under which thousands of federal agents were sent out to help people negotiate with their banks. Angelides again urged people to go to the website, download the report, or purchase it from Public Affairs press or the GPO. "This is an important story: of what happened to this country, how we came to the verge of financial collapse, and hopefully there will be lessons learned here, so we do not repeat this... I think it shows there's a tremendous hunger in this country still -- anger, confusion, about what it is that brought us to the point where 4 million families have lost their homes, and 13 million families may; $11 trillion in life savings were wiped away, and 26 million of our fellow Americans are out of work. People want to know how this happened and why it happened."
https://wn.com/Financial_Crisis_Inquiry_Commission_Report_1_3
Chairman of the Financial Crisis Inquiry Commission; Financial System Still at Risk

Chairman of the Financial Crisis Inquiry Commission; Financial System Still at Risk

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  • Duration: 2:54
  • Updated: 29 Jan 2011
  • views: 202
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Jan. 27 (Bloomberg) -- Phil Angelides, the Democratic chairman of the Financial Crisis Inquiry Commission, talks about the group's report published today. The report blames Washington regulators and Wall Street banks equally for failures leading to the crisis. The findings weren't endorsed by the commission's four Republican members, who wrote two dissents and criticized decisions by the chairman. Angelides speaks with Peter Cook on Bloomberg Television's "InBusiness." You can download "THE FINANCIAL CRISIS INQUIRY REPORT" Here: http://www.scribd.com/doc/47754964/The-Financial-Crisis-Inquiry-Report FAIR USE NOTICE: This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright.
https://wn.com/Chairman_Of_The_Financial_Crisis_Inquiry_Commission_Financial_System_Still_At_Risk
Govt. Inquiry: Financial Crisis Was Avoidable

Govt. Inquiry: Financial Crisis Was Avoidable

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  • Duration: 3:56
  • Updated: 05 Feb 2011
  • views: 502
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From the New York Times: According to the conclusions of a federal inquiry, the 2008 financial crisis was an "avoidable" disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street. The commission that investigated the crisis casts a wide net of blame, faulting two administrations, the Federal Reserve and other regulators for permitting a calamitous concoction: shoddy mortgage lending, the excessive packaging and sale of loans to investors and risky bets on securities backed by the loans.
https://wn.com/Govt._Inquiry_Financial_Crisis_Was_Avoidable
Peter Schiff Responds to Financial Crisis Inquiry Commission

Peter Schiff Responds to Financial Crisis Inquiry Commission

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  • Duration: 6:19
  • Updated: 28 Jan 2011
  • views: 429
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The only thing FCIC need to do was read his book, Schiff says.
https://wn.com/Peter_Schiff_Responds_To_Financial_Crisis_Inquiry_Commission
CNN: Angelides examines the financial crisis

CNN: Angelides examines the financial crisis

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  • Duration: 3:46
  • Updated: 19 Apr 2011
  • views: 185
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Financial Crisis Inquiry Comm. chair Phil Angelides says Wall Street is trying to rewrite the history of the crisis.
https://wn.com/Cnn_Angelides_Examines_The_Financial_Crisis
Bloomberg Television - Financial Crisis Inquiry Panel Probes CEOs - Brian Weiss

Bloomberg Television - Financial Crisis Inquiry Panel Probes CEOs - Brian Weiss

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  • Duration: 1:44
  • Updated: 23 Dec 2009
  • views: 104
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Congressionally-appointed Financial Crisis Inquiry Panel summons four bank CEOs to Washington. Brian Weiss reports.
https://wn.com/Bloomberg_Television_Financial_Crisis_Inquiry_Panel_Probes_Ceos_Brian_Weiss
Who Caused the Financial Crisis?

Who Caused the Financial Crisis?

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  • Duration: 0:48
  • Updated: 12 Nov 2013
  • views: 1060
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In this brief video-clip Warren Buffett explains the forces that caused the real estate bubble, and the mortgage crisis, which led to the broader financial crisis (with reference to Tulip Mania, The South Sea Bubble, and Isaac Newton). This video is a brief excerpt from a longer video of Warren Buffet's testimony to the Financial Crisis Inquiry Commission, which I posted on YouTube two years ago, titled, "What Caused It".
https://wn.com/Who_Caused_The_Financial_Crisis