Home » The 2008 Financial Crisis: Could It Happen Again? | Crisis On Wall Street financial crisis 2008

The 2008 Financial Crisis: Could It Happen Again? | Crisis On Wall Street financial crisis 2008

by myyachtguardian123



Tim Geithner, Hank Paulson, Barney Frank, Vikram Pandit, John Thain, Bob Diamond and Jamie Dimon reflect on the financial crisis and answer a very important question: Could it happen again?

Watch the premiere of the CNBC Original “Crisis On Wall Street: The Week That Shook The World” Wednesday, Sept.12 at 10pm ET/PT.

Ten years after the fall of Lehman Brothers, CNBC has produced the definitive televised account of the historic bankruptcy and cascade of events over a September weekend in 2008 that led to the worst financial crisis in generations. In this prime time original documentary, Andrew Ross Sorkin, CNBC anchor and author of the groundbreaking best-seller “Too Big to Fail,” reports on how the nation and the world came as close as ever to a full economic collapse.

The story is told through gripping interviews with those at the highest reaches of the U.S. government as well as the CEOs of the nation’s largest banks who gathered to try to save Lehman Brothers from failure. Wall Street chiefs Jamie Dimon, John Thain, and others describe dramatic, around-the-clock negotiations. Former U.S. Secretary of the Treasury Hank Paulson tells of the desperate moment when he realized that a Lehman bankruptcy could bring down the world’s financial system.

Could a financial crisis of this magnitude happen again? Sorkin puts that question time and again to the people gathered for this CNBC documentary, who shouldered the fate of the world’s finances and who recall the nightmare scenario they faced down ten years ago.

“It would be breadlines across the country for a generation,” former president of the N.Y. Federal Reserve Tim Geithner told Sorkin. “We did feel that we were making choices and faced with outcomes that would be devastating to the lives of hundreds of millions of people.”
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37 comments

Ra the Sun god 14/09/2021 - 4:55 Chiều

This was very vague

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joe doe 14/09/2021 - 4:55 Chiều

The sound was mixed horribly. The music drowns out Jamie at the very end and you can't hear what anyone is saying.

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PowerOf One 14/09/2021 - 4:55 Chiều

the banks got bailed out………. wtf?! They caused it.

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Doug Life 14/09/2021 - 4:55 Chiều

The crash is already here.

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NC Styles 14/09/2021 - 4:55 Chiều

The next one will be worse. The US dollar will become worthless. Just like Venezuela’s currency. It will eventually lead to war.

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Alexander Cortes 14/09/2021 - 4:55 Chiều

Watch the next crisis come and Trump blame Obama and Merkel….

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Hozay The man 14/09/2021 - 4:55 Chiều

It’s around the corner. The bail out was a nice patch but now you’re dealing with a bigger problem from all the money printing.

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Crypto buzz 14/09/2021 - 4:55 Chiều

We need to go back to the gold standard ways

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Leif Harmsen 14/09/2021 - 4:55 Chiều

Deregulated bank is an oxymoron.

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john jay 14/09/2021 - 4:55 Chiều

"THROUGH THE PRACTICE OF REMEMBRANCE, I HONOR THE PAST AND INFUSE IT WITH LOVE.

On this day, I honor and remember the past. I bring to mind events that have made the news: individuals who rose in the face of tragedy, and hearts that were broken by loss. One by one, I bring each of these thoughts into prayer. Holding them gently in my mind, I surround them with love in a consciousness of God.

I affirm the peace, power, and presence of God in the midst of all situations past, present, and future. Where there seems to be trouble or discord in the outer world, the inner spirit of God is an ever-present source of comfort. Praying from this spirit within, I send thoughts of forgiveness, healing, and gratitude where they are needed."

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john jay 14/09/2021 - 4:55 Chiều

when appropriate and pertinent regulations and laws are not in place and enforced in a timely and preventative manner, not to expect another financial crisis just a bad hope. Let's keep in mind that humans are flawed and are prone to desire and do everything to excess- whether good or bad. There's a saying that Nobody knows what's enough unless he has more first". When a financial crisis is brought on be any collective of humans and societies, looking for those to blame would be more like an academic challenge. Finding few to blame and punish though could serve and may be of social justice, however many take part in such crisis as financial mania in the stock market shows. It's not a situation where few are clearly to blame but a multitude of involved in different ways as it was in the 2008 crisis, imo.

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Ashish 14/09/2021 - 4:55 Chiều

Hmmm yes

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Gaus Morve 3268 14/09/2021 - 4:55 Chiều

When you spend 750 billion dollars on army 800 bases across the world …this gonna happen

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Sidharth vyas 14/09/2021 - 4:55 Chiều

Yes it is going to happen..

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AES 14/09/2021 - 4:55 Chiều

END fake paper money = no more Financial Crisis

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Tama 14/09/2021 - 4:55 Chiều

It will happened eventually. The student loan had already reach over 1.5 trillion dollars and will keep growing. The matter of fact, there’s a bunch of these student loan used on for profit college and undergraduate major which doesn’t provide enough ROI to paid of their loan. They would be forever stuck in that student loan debt+interest until they die. The federal government should limit this student loan or the bubble will popped.

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Nitin Goswami 14/09/2021 - 4:55 Chiều

CNBC is missing crash what a news channel

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D Carlock 14/09/2021 - 4:55 Chiều

Such bs. Next time we need to follow Iceland and arrest, convict, and in prison the bankers.

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raginald7 Mars 14/09/2021 - 4:55 Chiều

we all are to blame. Seeking cheap goodies…selling crap…

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Mr. X 14/09/2021 - 4:55 Chiều

Chinese IPOs the next bubble

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ℛɛᴛʀᴏ ℛɛᴅ 14/09/2021 - 4:55 Chiều

These crisis happen again & again because big business love bubble markets, and government enables it. Let the banks crash, and the markets correct itself. Government should not have authority over our economy whatsoever.

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paktofu123 14/09/2021 - 4:55 Chiều

Cnbc is on a mission to spread fear lol

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Diego Martinez 14/09/2021 - 4:55 Chiều

That was the begginen of the end.

Today 10 years later and we have the same bubble but much bigger, courtesy of our dear friends from central bank.

The cheap money they injected into the market its the reasom why we are here now with this gigantic ilusion of recovery.

The real recovery never happen because the recesion we were supose to had was avoided by inflating the bubble with cheap money from the fed, and the reason its not the deep love and respect they have for us americans. Some people would argue that it was the right decision, the fact is it wasnt.
Yes they bought time but at what cost? We have this huge bubble now that includes many areas besides real state
Not only they extend the funeral they extend our debt and just looking at the low rates for so long says alot.

Its not "if" but "when" this fantasy will end.

The next colapse we are going to have soon will be much more painful and severe because they half-avoid our last colapse, they avoid the pain and the actual responsibility as leaders as usual.
We gonna have to deal with some pain in order to re emerge, we just made that pain bigger now.
When this colapse take place, they will do the same thing, print money and try to keep it all together, difference this time is the astronomic amount of cheap money they inject on the market, a possible overdose of money can send the dollar to bed,

But apperently thats not important for our appointed leaders, the media says our economy its ok our dollar its strong … and our citizens are spending money so its all good. Sign of good economy its people saving money, paying debt, their houses, not getting into more debt ….

I been buying gold and silver for years, knowing someday our dollar lose his value. Having thousends of dollars on the bank with little or cero value its a not good situacion … lol
Im out .. peace !

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Anthony Gomez 14/09/2021 - 4:55 Chiều

They took err jerbs!!!

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Kariuki 14/09/2021 - 4:55 Chiều

Yes it could

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Ray Khan 14/09/2021 - 4:55 Chiều

Trump and the gop are banking on it literally and figuratively and as soon as it happens Obama/Clinton are the reason

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OnTheFritz602 14/09/2021 - 4:55 Chiều

Removing the safety nets and regulations put in place, Tariffs and blanket isolationism.
It's inevitable.

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Tomherbs 14/09/2021 - 4:55 Chiều

It's only a matter of when

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Loui Eriksson 14/09/2021 - 4:55 Chiều

Crypto, the next HUGE bubble

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zbLoodlust087 14/09/2021 - 4:55 Chiều

Well i would hope that it’s not the same exact issue but of course a crisis is likely. History shows us it’s probable

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Garett Guenot 14/09/2021 - 4:55 Chiều

The crisis isn't over. 2008 was just a warning for the biggest crisis yet to unfold. Money printing merely postponed the collapse

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bob thebuilder 14/09/2021 - 4:55 Chiều

Obviously. Just because you pump money into the economy doesn't mean it changes the actual value in the economy; this is why you should have a nest egg in case of emergencies.

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rohan m 14/09/2021 - 4:55 Chiều

Music did not help

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Steve Stockman 14/09/2021 - 4:55 Chiều

Hang the bankers and politicians. Then buy BTC and Crypto currencies. 👍

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ENNZ 14/09/2021 - 4:55 Chiều

All markets go bust

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Democracy dies in darkness 14/09/2021 - 4:55 Chiều

The current BOOM is on steroid …waiting for hard crash

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jxsilicon9 14/09/2021 - 4:55 Chiều

You never fixed the banker problem.

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