Showing posts with label Financial Crisis. Show all posts
Showing posts with label Financial Crisis. Show all posts

Saturday, 30 March 2013

Black Wednesday - When the Pound Sterling Crashed

What happened when the pound sterling crashed? Why did it crash? And what was this thing about George Soros taking on the Bank of England and winning? This documentary addresses all of these questions and more - it looks at a financial crisis which happened back in 1992. Black Wednesday referred to the day where the UK was forced to withdraw the pound or GBP from the European Exchange Rate Mechanism as the Bank of England was unable to keep the GBP exchange rate above the agreed lower limit. George Soros made over a billion dollars betting against the GBP - foreseeing it's inevitable capitulation. This crisis just goes to show the fallacy of a one-monetary-policy-fits-all approach; it also shows the futility of fighting the market, and how easy a crisis can precipitate. This event also shows how traders can make money in a crisis if they are prepared to do their homework, understand the drivers and get conviction to take a position.

.Trade currencies, commodities, and stocks at eToro
Finance Documentaries:

Sunday, 14 October 2012

Carry On Banking

This BBC Panorama documentary essentially seeks to answer the question: 'have investment bankers and financial institutions learned any lessons from the meltdown or is it back to the old days?' I would say that it's back to the new days, and certainly this documentary shows the desperation to get back to business as usual - albeit with a few tweaks. Bankers in certain parts of the industry i.e. loan origination and structuring, derivative sales, risk management and treasury, and of course leadership at all levels, certainly deserve criticism for the way they acted or failed to act in the lead up to the crisis. But there is a role for finance in facilitating a strong real economy, it is probably a lot plainer and simpler than much of what presently goes on in finance, but finance i.e. borrowing and lending of surplus funds and provision of transaction services are a social/public good. So while financial institutions do need to do some soul searching, the onus is really on the regulators and politicians to help reshape the industry and the incentives. One key problem is that a lot of investment bankers are not actually bankers in the traditional sense, rather they are agents of profiteering - in the old days it was called merchant banking, and 'investment banks' were partnerships, and 'banks' for the most part just borrowed and lent money; maybe that was a better structure? What do you think? - add your comments below...

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Finance Documentaries:

Saturday, 8 September 2012

The Last Days of Lehman Brothers

This is more of a drama or entertainment film than a documentary, but it is based on the true story of the failure of Lehman Brothers. It is an interesting, though at times cringe-worthy, look at the events that unfolded in the lead up to one of the most catastrophic financial company bankruptcies. It gives a feel for some of the behind-closed-doors dealings, discussions, tense negotiations and emergency meetings that attempted to weave together a solution or a deal to prevent the collapse. See also: The Fall of Lehman Brothers

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Monday, 3 September 2012

1929: The Great Crash

Think the current challenging economic times are bad? Think the great financial crisis was bad? Well here's a documentary on the 1929 crash, not to make light of our present situation but this is an eye opening documentary. Over a period of 6 days in October 1929 the US stock market lost a third of its value; wiping out more than $25 billion in individual wealth (worth a bit more in those days! - after adjusting for inflation), while 3,000 banks ended up failing and wiping out investors' savings. While the literature on financial crises (e.g. "This Time Is Different ") is growing, as we understand more about the enduring effects of financial system shocks; this video provides an interesting look at one of the most significant financial crashes of our time.
See Also: The Crash of 1929

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Finance Documentaries:

Saturday, 28 April 2012

Mind Over Money

Economics and finance have become topics dominated by maths and theory, with a key theory of economics being 'rational expectations' with theories predicated on rational operators. But the problem with this is it misses the point that people are emotional, and people are the ones who determine how the economy operates and how prices behave in financial markets. Indeed the emerging field of behavioral finance is honing in on this very point and attracting increasing attention. If any example illustrated the folly of human behavior in financial and economic systems, it was the global financial crisis. Simply put, in order to really understand economics and finance you must understand the impact of human psychology, emotions, and behaviour.

NOVA presents "Mind Over Money"—an entertaining and penetrating exploration of why mainstream economists failed to predict the crash of 2008 and why we so often make irrational financial decisions. The program reveals how our emotions interfere with our decision-making and explores controversial new arguments about the world of finance. In the face of the recent crash, can a new science that aims to incorporate human psychology into finance—behavioral economics—help us make better financial decisions? 

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Friday, 23 December 2011

The End of Wall Street

This documentary from the Wall Street Journal offers another angle on the financial crisis; the cause of the crisis, the role of derivatives, and some thoughts on the future. It's interesting to see and hear some of the comments from the various WSJ reporters. The documentary was done around the peak of the crisis, as crisis management solutions were being legislated, and bailouts were thrown left right and center. Certainly another financial crisis documentary worth watching. For more on the financial crisis see the financial crisis category.

Journal reporters explain how the housing bubble inflated and burst, and why easy money led to the collapse of Wall Street's biggest financial institutions. What was going through the minds of CEOs, corporate boards, fund managers and mortgage lenders as they created hard-to-understand derivatives Warren Buffett once called "weapons of financial mass destruction." Wall Street tells the story of the $700-billion bailout, as seen through a reporter's eyes, and looks at what's ahead for the global economy.

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Friday, 16 December 2011

The Chicago Sessions

The Chicago Sessions is a documentary and debate/discussion on the legal and ethical implications of the credit crisis. Indeed the financial crisis has left a lot of people to question the current system and way of life, with some suggesting the abandonment of capitalism, while others suggest much more stringent rules and regulations for the financial sector. It would be a shame if the debate on regulation and ethics were not picked up in the wake of such a significant financial crisis, and this video makes a contribution.

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Saturday, 10 December 2011

The Party's Over: How the West Went Bust

Still wondering how the world got to where it is today? The West is still mired in the aftermath of the global financial crisis; particularly in Europe where the financial crisis went from a banking crisis to a sovereign debt crisis as governments had to bail out banks, and as years of fiscal irresponsibility came home to roost. But it's not just hard times, it's also changing times, in China it's almost like the opposite was happening; the government saw surpluses, people saved a high proportion of their income, and as a result today China is apparently in a much better financial position than the old strongholds in Europe. This documentary looks at some of these imbalances and more. For UK viewers see it on the BBC website.

In the teeth of the worst financial crisis in living memory, BBC business editor Robert Peston examines how the world got to this point and how the collossal imbalances in the global economy have left the UK in need of a radical economic overhaul. In this first of two programmes Peston examines how, thirty years ago, momentous decisions were taken which shaped the world we live in today. In China, Deng Xiao Ping opened up the country to foreign capitalists; in Britain and America, the free market revolution was unleashed by Margaret Thatcher and Ronald Reagan. The Party's Over compares the lives of workers in a Chinese company with their co-workers in Britain. Robert Peston interviews bankers, politicians and economists, and concludes that the boom we enjoyed before the crash was based on an illusion, and that the world's economy is now so unbalanced that in the West we face a sobering wake-up call.

Finance Documentaries:

Saturday, 19 November 2011

Movie Trailer - Too Big To Fail

Here's HBO's dramatic cinematic take on the global financial crisis, highlighting the intense backroom dealings during the height of the banking crisis in the US, and the fall of Lehman Brothers. There are plenty of documentaries on this website that take a more clinical and factual approach to investigating the events of the financial crisis, but this movie brings a new angle to it and helps bring what happened into the light for all to see. If you get the chance it is well worth watching the entire movie.

Based on the bestselling book by Andrew Ross Sorkin, 'Too Big To Faik' offers an intimate look at the epochal financial crisis of 2008 and the powerful men and women decided the fate of the world's economy in a matter of a few weeks. Centering on Treasury Secretary Henry Paulson, the film goes behind closed doors to examine the symbiotic relationship between Wall Street and Washington.

Finance Documentaries:

Sunday, 6 November 2011

Meltdown - After the fall

Here's the final of the four-part series from Al Jazeera on the global financial crisis. See the previous parts: The men who crashed the worldA global financial tsunamiPaying the price. The fourth installment looks at the next steps after the crisis. Some people have tried to deny it, while others have questioned capitalism, but many are thinking about how the next crisis can be avoided, or at least how to curb the practices during this crisis. But ultimately the biggest learning from this crisis may well be that crises are a fact of life, and rather than bemoaning it, people should prepare for the next crisis. In any case this documentary provides an interesting view and a good conclusion to the much talked about series.

In the final episode of Meltdown, we hear about the sheikh who says the crash never happened; a Wall Street king charged with fraud; a congresswoman who wants to jail the bankers; and the world leaders who want a re-think of capitalism. The financial crash of September 2008 brought the largest bankruptcies in world history, pushing over 30 million people into unemployment and bringing many countries to the brink of insolvency.

Finance Documentaries:

Monday, 31 October 2011

Meltdown - Paying the price

Following on in the 4-part 'Meltdown' series on the global financial crisis, the 3rd part looks at the backlash as thousands of people began to directly feel the effects of the crisis - and they were not at all happy about it. The episode looks at the sometimes alarming backlash in countries like Iceland, and France - where laid-off workers kidnapped their bosses, taking the law into their own hands out of frustration and feelings of being betrayed. There's no denying the frustration felt globally, either directly or indirectly, from the effects of the global financial crisis, indeed unemployment is still high following the economic correction that saw many unsustainable industries and business go under. As such movements like "occupy wall street" and occupy all sorts of locations have sprung up as the frustration and struggle continues for many. This episode perhaps shows reality biting the hardest of all the episodes in the series, one can only be thankful that it didn't end up worse!

The third episode of Meltdown looks at how the victims of the 2008 financial crash fight back. A protesting singer in Iceland brings down the government; in France a union leader oversees the kidnapping of his bosses; and thousands of families are made homeless in California.

Finance Documentaries:

Tuesday, 25 October 2011

Meltdown - A global financial tsunami

Here's the second video in the series on the global financial crisis, "Meltdown" by Al Jazeera. The second edition focuses on how "the financial tsunami swept the world". The documentary offers a fresh new look at how the financial crisis began to spiral out of control and spread from the crashing US housing market to global financial institutions. The Meltdown series is highly recommended viewing on the financial crisis.

In the second episode of Meltdown, we look at how the financial tsunami swept the world. We hear about a renegade executive who nearly destroyed the global financial system and the US treasury secretary who bailed out his friends.
Henry 'Hank' Paulson, the former CEO of Goldman Sachs and later an economic advisor to the US government; refused to bail out global financial services firm - the Lehman Brothers. Paulson said it was not the role of government to save private businesses.

Finance Documentaries:

Saturday, 22 October 2011

Hotspots with Max Keiser - Ireland

In this documentary, Max Keiser takes a tough look at the Ireland economy and what happened there before during and after the financial crisis made a casualty of Ireland. Indeed, Ireland was probably one of the prime examples of the evolution of the banking crisis into a sovereign crisis as the Irish government guaranteed all the debt of the banks and as a consequence later had to seek a bailout from the IMF and EU. Certainly this is another to add to the long viewing list on the global financial crisis.

Timothy Maxwell "Max" Keiser (born January 23, 1960) is an American broadcaster, film-maker, and former equities broker. Keiser is the host of On the Edge, a program of news and analysis hosted by Iran's Press TV. He also hosts Keiser Report, a financial program broadcast on RT - formerly Russia Today. Keiser hosted the New Year's Eve special, The Keiser's Business Guide to 2010 for BBC Radio 5 Live.
Keiser formerly hosted The Oracle with Max Keiser on BBC World News. Previously he produced and appeared regularly in the TV series People & Power on the Al-Jazeera English network. He also presents a weekly show about finance and markets on London's Resonance FM, as well as writing for The Huffington Post.

Finance Documentaries:

Meltdown - The men who crashed the world

This four-part series on the global financial crisis, by Al Jazeera, offers an excellent insight into the causes of the financial crisis. In particular, this installment focuses on the events that lead up to the crisis, and the initial stages of the great unwinding; following the events in the early stages of the crisis such as the bank run in the UK and the collapse of Bear Stearns and then Lehman Brothers. It also focuses in on the key personalities in the crisis; the wall street investment bankers, and the power brokers in Washington.

In the first episode of Meltdown, we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne.
The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.
But how did it all go so wrong?

Finance Documentaries:

Saturday, 8 October 2011

Inside Job

Here's another documentary on the financial crisis (see the financial crisis section of 'browse categories' for more on the crisis and other crises). The distinction of this one is that it's a film length documentary, and was originally screened at the Cannes Film Festival. The film covers the crisis in 5 parts, providing an interesting insight into the events that transpired through the first decade of the new millennium. Certainly this is one worth adding to the must see list of financial crisis documentaries.

"Part I: How We Got Here"
"Part II: The Bubble (2001-2007)"
"Part III: The Crisis"
"Part IV: Accountability"
"Part V: Where We Are Now"

Inside Job (2010) is a documentary film about the late-2000s financial crisis directed by Charles H. Ferguson. The film is described by Ferguson as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption." In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis. Inside Job was well received by film critics who praised its pacing, research, and exposition of complex material.

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Finance Documentaries:

Inside Story - Financial Crisis and Asia

Asia is a particularly important area of the global economy in these times. The Asian economies are still growing fast, and driving a lot of global growth, they're also a very important component of emerging market equity returns. But to be sure, there are a lot of challenges in the current environment, and this documentary takes a look at the impact of the financial crisis on Asia. The effects of the financial crisis are still being felt around the globe, but with the importance of Asia, certainly for investors at least, it is well worth understanding how Asia has handled the crisis.

Finance Documentaries: