Dispatches: How the Banks Bet your Money (Ch.4) 2008 02 18 avi
(The title understates the crime: this is a of story calculated greed combined the stupidity and a level of incompetence bordering on complicity by regulatory authorities. It calculates the material losses we will all pay but just adequately the real human suffering it entails.)
(This documentary looks lucidly at the American sub prime mortgage mark has wrought havoc with poor home owners and cost 100s of billions of dollars in losses by reckless greed. Losses everyone will pay for directly and in recession that is now likely to follow.
A clear explanation for the non-expert.
As usual, the American media gives its public sound bites. The origins of the plot are firmly in America)
Flagship current affairs program covering groundbreaking reports that
often set the news agenda.
The global credit crunch has put Britain's banks in a crisis that may even trigger a recession. John Moulton explains how bankers gamble for fast profits and big bonuses and why the taxpayer will be left to pick up the tab.