How the 2008 Financial Crisis Still Affects You

36 thoughts on “How the 2008 Financial Crisis Still Affects You”

1. As someone who was still in middle school in 2008, I never really understood what happened. Even watching documentaries and movies about this crisis didn’t help much. But this video here is such a clear and structured piece of work that finally give long awaited answers for me.

   Really awesome to live in the information era.

2. 2008 financial crisis is so boring I’m sorry. Good quality video but this topic puts me to sleep.

3. I was -2 years old in 2008. I was watching things unfold and it was terrible

4. Stellar content

5. It's amazing that if average joe gamble in las vegas and lost, he lost his savings but if banks gamble and lost, people lost their savings while the banks can wake up next morning and gamble again with no punishment, no remorse, no shame.

6. Crazy to see almost everyone in the comment section ended up losing their houses or major assets I feel way less lonely now I was only 7 watching my single mom tear her hair out just to feed me the thought of these times just make me want to cry. I had no idea how close she was to killing herself during all of this until my 20s this shit is fucked up dude

7. Your statements around 8.40 onward are completely misleading and frankly false. It has nothing to do with banks not caring, they were forced by leftist woke politicians to throw any notion of loan repayment viability out the window and be forced to lend to dead beats period. There would never have been a crisis if people were still paying their mortgages and who allowed money to be so grossly mis-priced it causes the massive boom bust cycle? Not the market that's for damn sure but as of today Central Banks in government appointed jobs.

8. Still the west bounced back far better than Japan did after their property market crashed in the 1990's, a whole heap of people became the lost generation.

9. fertility is dropping beacuse of unlimited abortion

10. This is the scariest video I have seen anytime within recent memory.

11. During this period of time my husband and I were astonished that our children, their cousins, and many of their friends who were barely 18 to 20 years old were able to purchase brand new homes. We knew they were being set up to fail by the banks. Sure enough, we saw so many of these young people lose their homes to foreclosure. It was a tough lesson for many of them and it was heart rendering to see them go through it. The worst part of all this was that many of the real crooks were bailed out and the lasting impact of the rampant greed is still evident in the young people of today. Just look at the homelessness that's been filling up the sidewalks of our cities.😢

12. I appreciate this history. Now will we learn from it? What is the next "creative" financial product? Crypto seems to be another scam. But after crypto. I wonder what it is. Humans can never end greed. So soon one is in the works. There shall be one created soon, the routine will be the same. A promise will be made, human conditions will be played like greed, profit, fear of missing out then the masses will follow and open an app and invest their hard earned money and the asset that will be in the future will be thought of something that will not crash and a bubble will swell and blow and everyone loses their money and the process repeats. A new generation will come and will have no memory of it.

13. You have not accurately diagnosed the problem focussing instead on superficialities.

    The central problem is rapacious super-wealthy investors.

    The long term viability of financial institutions is irrelevant to them – they have advisors whose job it is to extract their wealth as soon as things start going south.

    They will invest, sell for maximum profit and if the company collapses a new one will spring into being to accept their investments. It's the financial equivalent of slash and burn agriculture.

    Assuming they do get stung – they have the resources to permit legal action to obtain restitution.

    The health of the economy is irrelevant to them – they will make money with whatever is financially viable at the time. The law is designed to protect their interests above and beyond the interests of the institution, its employees or its customers.

    We need legal and social reform

14. The comment section here is just as powerful as the documentary was. I just learned of this channel today. What a an amazing find. Thank you for all your hard work and caring. It REALLY shows.

15. Finally someone who accurately lays the blame from the Clinton era. Blaming Bush was disingenuous. Sure Greenspan keeping interest rates low exacerbated it but it was not the cause.

16. Anybody still thinking that the US government didn't knew anything about it?!

17. So in short: When rich people decide to get richer as their primary motivation, the world gets hurt. What a shocking revelation!

18. They cut my hours twice. I remember hearing " you are lucky to have a job" allot. We got 1 or 2 % raises and our health insurance HMO was replaced with a high deductible plan. And we got to do the job that 3 people use to do. Stocks kept going up and I thought only suckers work so I retired because I don't like to quit. I bought and keep buying bitcoin because I believe it will replace the current system. I will hold it to zero because that is what the fed banks will try to take it to before it's adoption. I new their has to be a reset someday, but I didn't understand how until I discovered bitcoin.

19. I owned a real estate brokerage, made huge money on the way up. Lost everything on the way down. Ultimately it was a gift, I learned who my true friends were, they still wanted to hang out when I couldn’t even cover my share of the check, they came to visit at my 1 bd apartment. I am still building things back and probably will never be able to retire but I am happy

20. I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27500 this oct. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserv

21. Super good video thank you!

22. And here we go again. Government please stop lieing to us. I am barley living from one SSI check to another. I have never been able to recoop anything.

23. I am still trying to recover from 2008. I can never get back to where I was back then. I had a successful business as a self employed Artist. A single female I supported myself for 11 years. As the crash took hold my business began to plumit. I lost everything,my home, my business, and all of my investments, which was a good amount and could have grown to keep me going. I lost everything. I have never been able to recover. I was homeless for three years.

24. I hate it here

25. I was in Elementary school when this happened. As a 26 year old American with great ambition, I’m excited to clean up after the old heads ruin everything.

26. 1996 Financial Crisis not 2008. That's when it came to a head and everything collapsed. Thank you Bill Clinton!

27. A big consequence that nobody talks much about is that an entire generation of high school students never got to enter the workforce like they normally would. Myself and nearly everyone I knew was competing against grown adults who had lost their jobs and were now applying to the formerly entry-level work like fast food and retail. A generation of kids lost out on 2-3 years of savings and work experience. The “summer job” became a thing of the past.

28. No one blames the Clinton’s and the Democrats and some Republicans.

29. I remember 2008, my father lost his finance job and everything changed, his earnings never recovered and ended up working in a supermarket. We went from a very comfy middle-class family to 'just about managing' for the next 10 years. i think it pretty much scarred him because he never went back to finance and he just gave up ambition and embraced being a blue collar worker, and caring for his parents – to the shock of the rest of our family who were waiting patiently for him to bounce back. We thought that supermarket job was just temporary. To this day we never talk about it, it's a touchy subject. My mother became and stayed the breadwinner, something I think she hates. 😅

30. Remember the Obama Mail out? Lots of people thought that Obama was going to give them personal bail out money to help them pay their bills. They elected Obama in that belief. And others. They were lied to of course bail out money went to banks both under Bush and Obama. And it was under Bill Clinton that this entire mess got going. You gotta understand they’re all greedy. And they get big pay off money. It comes to a number of avenues. That’s why when you see these people today they are billionaires.

31. So how many people went to jail?

32. O8' was pretty miserable living paycheck to paycheck giving the x money so I could raise our children as wholesome as possible.

33. long story short – they are giving the poor risky loans because the housing market goes up with every loan they sell. and just making everybody poorer, while they are still rich

34. Can someone give us the link for Soul Mates by degogo??

35. The fascisti based banking called B of A
    Was counting on mass foreclosures
    For structured investments owned by foreign investors …..

36. I worked for BlackRock during that time. I was only worked the job for about 3 months before Lehman fell in 2008. The working environment was awful. They laid off in Oct. I was one of the “lucky”that didn’t get laid off, however I didn’t make the second cut in May. Stress was so bad I stoped grad school for the spring semester. Getting laid off was the best thing that happened to me. I went back to school, got a consulting job in 2009, and starting a consulting firm in 2012. Prayer was and is a central theme in my life, that was sparked in large part by this financial crisis. I’ve been in business for the last 10 years, I have 170 employees. If it weren’t for the crisis, I would probably still be at BlackRock, or bounced around other firms for a quick buck. Find God and he will direct your path.

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