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 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

Comments

1. Housing bubble peaked in 2006. Liquidity Crisis was Aug 2007. Something happened in 2006 that woke everyone up and destroyed the world. Maybe the black hat Synagogue of Satan false Jews and their false Christian allies killed God.
2. And the new administration wants to roll back some of the regulations implemented.
3. This woman is incredibly hard to follow. This isn't crash course
4. Wow. 11 minutes without ever mentioning what actually caused the housing crisis (Government intervention in the first place). Astounding.
5. Excellent video!! A touch of emotion to it as well!!
6. "Whenever you hear subprime think dogshit"
7. It feels funny to remember when the Lehman brothers declared bankruptcy... I was just 14 and I had no clue of what that meant, but the announcement had a very frightening tone.
8. The lesson for us common folk:
   Try not to spend money you don't have, especially if you don't need what your spending on.
9. O.O Estoy sorprendido... Quiero creer que el final del video es un chiste... A ver si entiendo... Adriene dice, citando a Shakespeare, "que la culpa no yace en las estrellas sino en nosotros"... En nosotros... En nosotros? Nosotros quiénes? Todos nosotros? Hasta quienes pidieron los préstamos?
   
   A ver si entiendo... Los educados, los que más saben y más capaces son, en este caso son quienes daban los créditos... Los bancos... Y perdón si mal entiendo, pero ellos sabían lo que estaban haciendo... Fueron unos vivos bárbaros, estaban poniendo en el mercado hipotecas de personas que sabían que lo más probable era no puedan pagarlas...
   
   Cómo puede ser que quién necesite de un préstamo para consumo, inversión o gasto sea el culpable? Cómo puede ser que él tenía que saber que pasaba en el mercado? que su hipoteca iba a aumentar dado que subía el valor de las viviendas?
   
   Esto bien sabían quiénes comenzaron a lucrar con hipotecas riesgosas... Puede que el Estado, por política u omisión (habría que ver esto) no haya controlado o regulado el accionar de los bancos.... Pero el que se mandó el moco fueron los prestamistas muy bichos...
10. But it was only the Insurance's "opinions" right?
    lol
11. 9.000th like :)
    great video, thanks!
12. nils stinkt
13. thank you for objective teaching!
14. Why can't poor countries make up money, like the USA.
15. Look so basically without using all this financial terminology..financial institutions got greedy for bigger bonuses and more money and it backfired.
16. This goes top show money is just a number for this country.
17. 0:49 NEVER!!!!!
18. kkk
19. Basically the tax payers had to save the banks. And many of the people responsible got super rich while the average tax payer suffered.
20. These two are filthy corporate stooges.