The real truth about the 2008 financial crisis | Brian S. Wesbury | TEDxCountyLineRoad financial crisis

by noithatSDFGH



이 강연은 TED 컨퍼런스와 별도로 제작된 지역 TEDx 행사에서 진행되었습니다. 2008년의 위대한 경제신화, 회계원장에게 회계에 도전. Brian Wesbury는 일리노이주 휘튼에 위치한 금융 서비스 회사인 First Trust Advisors LP의 수석 경제학자입니다. Wesbury는 1999년부터 시카고 연방 준비 은행의 학술 자문 위원회의 회원이었습니다. 2012년에는 텍사스주 댈러스에 있는 George W. Bush 프레지덴셜 센터의 펠로우로 임명되었으며, 그곳에서 그는 4% – 성장 프로젝트. 그의 글은 다양한 잡지, 신문 및 블로그에 게재되며 Fox, Bloomberg, CNBC 및 BNN Canada TV에 정기적으로 출연합니다. 1995년과 1996년에는 미국 의회의 공동 경제 위원회에서 수석 경제학자를 역임했습니다. 월스트리트 저널은 2001년 Wesbury를 미국 경제 예측 1위로 선정했으며 USA Today는 그를 2004년 미국 경제 예측 10인 중 한 명으로 선정했습니다. Wesbury는 1982년 시카고의 Harris Bank에서 경력을 시작했습니다. 이전 직책에는 Chicago Corporation의 부사장 겸 경제학자, Griffin, Kubik, Stephens 및 Thompson의 수석 부사장 겸 수석 경제학자가 있습니다. Wesbury는 Northwestern University의 Kellogg 경영 대학원에서 MBA를 취득하고 University of Montana에서 경제학 학사 학위를 받았습니다. McGraw-Hill은 1999년 10월에 첫 번째 책인 The New Era of Wealth를 출판했습니다. 그의 가장 최근 책인 It’s Not As Bad As You Think는 John Wiley & Sons에서 2009년 11월에 출판했습니다. 2011년 Mr. Wesbury는 University of Montana의 Distinguished Alumni Award를 수상했습니다. 이 상은 “대학, 주 또는 국가에 영예를 안겨준” 뛰어난 동문에게 수여됩니다. 이 상의 수상자는 91,000명의 잠재적 졸업생 중 267명입니다. TEDx 소개, x = 독립적으로 조직된 이벤트 퍼뜨릴 가치가 있는 아이디어의 정신으로 TEDx는 사람들이 TED와 같은 경험을 공유하기 위해 함께 모이는 지역의 자체 조직 이벤트 프로그램입니다. TEDx 이벤트에서 TEDTalks 비디오와 라이브 스피커가 결합되어 소규모 그룹에서 깊은 토론과 연결을 촉발합니다. 이러한 지역의 자체 조직 이벤트는 TEDx라는 브랜드로 표시되며, 여기서 x는 독립적으로 조직된 TED 이벤트입니다. TED 컨퍼런스는 TEDx 프로그램에 대한 일반적인 지침을 제공하지만 개별 TEDx 이벤트는 자체 조직됩니다.* (*특정 규칙 및 규정에 따름) .

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34 comments

marte thompson 16/10/2021 - 11:02 PM

Both Russia and China are capitalist countries. They do whatever they can get away with, just like capitalists everywhere. If we did not have a Constitution that protects human rights aka the "Bill of Rights" we would not have anything.

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marte thompson 16/10/2021 - 11:02 PM

National debt is ALWAYS on the backs of the working class. The buck stops here.

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marte thompson 16/10/2021 - 11:02 PM

What about the thousands of people who lost their homes in the defense industry downsizing in the early 1990's? Lockheed alone layed off 20,000.

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marte thompson 16/10/2021 - 11:02 PM

Green light? What if the car in front of you is stopped? Or if there is a slow pedestrian?

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A P 16/10/2021 - 11:02 PM

Such a good salesman of hot air. Things are worth what people are willing to pay regardless what you paid originally. Also, those mortgages were resold several times and on top many properties had multi mortgages on them. Everyone was having a great time until it wasn't.

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Osmar Coelho 16/10/2021 - 11:02 PM

Weak explanation. Three folds: First, it lacks a structural analysis of the last 2 decades in the financial system, its deregulation, and dynamic modeling behavior; 2. Second, It lacks an actors analysis about the revolving door between government and financial system; 3. Third, it did not explain the growth of the financial system and the collateral shrinking of the job market.

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Russian Part-Time Shill 16/10/2021 - 11:02 PM

Whenever someone uses reductionist arguments to explain something complex, there are only two options: It's either ignorance or propaganda.

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Light Shadows 16/10/2021 - 11:02 PM

BlackRock created the financial instruments and derivatives that led to the mortgage backed securities failures and then they were paid to clean up the very mess they caused.

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Jerry Wood 16/10/2021 - 11:02 PM

I go through green lights without stopping. Unless I hear sirens.

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Kay You Are Tee 16/10/2021 - 11:02 PM

Sir…You sound like a Wall Street banker/lobbyist…

You are turning everything upside down. You are confusing horse with driver. It was indeed the private banks that brought the economy down, we know that for a fact by now.
The statement that capitalism – the free market, in contrary to the fed and government, does not have a press agent is completely wrong. In fact they have much more access to the media, than any government in the western world. In fact they own the majority of the press.Rupert Murdoch and a few other persons owns most of the major press in the western world.

I will give you one thing, though, we shouldn't have bailed the big banks in 2008, we should simply let them collapse and nationalized the system, had just as we should not have deregulated the Glass Steagall regulations of the early 1930's. They worked as supposed and for the first time we did not have ANY financial crisis. That happened again, shortly after the deregulation.

Please, see the documentary by IT millionaire Charles Ferguson "The inside job". It can be found on NETFLIX. ( Not to be confused by the commercial cartoon of same title )
This is straight from the mouth of the horses themselves.

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MK 16/10/2021 - 11:02 PM

Wow, what a load of rubbish.

Setting fire to the economy with risky loan products and the even more risky unregulated derivative products and then blaming others for not stopping the banks is an example of the exact type of arrogance that should not have been tolerated. Maybe you just forgot the millions spent on lobbying to prevent the regulation you mention should have been in place?

The banks and Wall Street provided the fuel and lit the match with their risky mortgage products and even more risky derivative products (likely the final straw). Everyone else had to clean up the mess. When will we learn that banks and Wall Street cannot be trusted. Commercial banks should not be allowed to conduct investment banking (and vice versa) so that we never get in a situation again where can't afford to let a bank fail.

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37yeahbuddy 16/10/2021 - 11:02 PM

If you want the real truth, watch the movie "The Inside Job"

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ALI SUROOR 16/10/2021 - 11:02 PM

How can we generate (intellectual energy in light of the disruption of meditation stations and serious intellectual participation?)

How then will definitive, non-temporary solutions be reached, unless people are deeply familiar with the literary, cultural, historical, educational and indicative streams?
Undergraduates will not be able to find sustainable solutions unless they are definitely familiar with all the previous literature
if?!!!
When the cultural mission is evaded, employees in all global organizations should not demand participation in economic seminars or endeavors to seek sources of solutions.
Because employees may be confined to the export sector, for example, or real estate, or even trade, but their opinions are not based on their suggestions because they are not trustworthy because there are no books for them or cultural participations mentioned under the roof of any local, regional or international forum.
If we turn towards a reassessment of the truth, we will arrive at the only way:
Are you going to take a sailor who is an expert in sea affairs and has been working for years in travel, fishing and ports?
Or will you take a marine biologist with you?
So you do not need a university degree when traveling at sea, but you need experience exclusively.
This is not a call to exclude participants who are unable to bring about a new philosophy in the world of modernity and in the current economic crisis"
But you should not bring an agricultural engineer and ask him to work in the pharmaceutical sector, for example
And you shouldn't ask an economist
How to treat irritable bowel diseases, for example
Each according to the specialty
Only then will the steps of trade return to the path of financial recovery.
No thinker will offer any solution for free
Unless they sit together to find real outlets
The world of the web
Not safe for all writers, thinkers and intellectuals
That is an established fact.

ALI SUROOR

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Anthony Thekaekara 16/10/2021 - 11:02 PM

Oh yeah it had NOTHING to do with the fact that by 2005, over 50% of mortgage loans were given out to low income housing due to government quotas. Literal definition of sub-prime mortgages.

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Antonín Pecka 16/10/2021 - 11:02 PM

Poor bankers

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T_ Rat 16/10/2021 - 11:02 PM

My BS-meter states lighting up when a speaker starts introducing large numbers in reference to unrelated topics (e.g the pages or words in a report or the bible) or mixes causes and consequences together in the talk without differentiating them, so as to blur the line and direction of cause-effect events. I have to wonder if, what this speaker calls the causes are really the consequences of the meltdown. And thus mitigates the high risk and unethica practices of the banking-investing industry in their role of the 2008 crash.

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Luigi Di Martino 16/10/2021 - 11:02 PM

Did he really explained the root of the crisis. Did someone understand this gentlemen? Well, I didn't.

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Raed Gasim 16/10/2021 - 11:02 PM

You are one of them!
If someone took a loan, who approved the loan? I agree with personal responsibility, but greed allowed bankers to rig the books to give large loans.
Secondly, adjustable rate was used as a scam tool by,, guess who? Bankers

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yuip piuy 16/10/2021 - 11:02 PM

Thank You comments section for bringing balance of truth to the video

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Abdul Muntakim Rafi 16/10/2021 - 11:02 PM

Waste of time. Don't watch it. He doesn’t tell you much.

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Trevor Dance 16/10/2021 - 11:02 PM

If you only focus on a TINY WEENY SLICE of any problem, you can make it look like a different problem – that us what he has done – this man should be locked-up. This is blatant spin to try and make the bankers look like the victims and the fed as the bad guy for bailing out the banks with tax payer's money – that it frankly criminal.

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micah smith 16/10/2021 - 11:02 PM

Yeah whatever. Where's Andrew Jackson gone? He knew what was up.

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Ricardo Martinelli 16/10/2021 - 11:02 PM

The bubble exploded because of the derivatives, they were created to "clean" loans that were not paid due unemployment in US due globalization. The banks usually sells and resells their loans, only that if a loan has not been paid it's value is decreased all the way to zero, with the derivatives the bad loans were fragmented to hide it's real condition and their were back in the market as good loans. Than this financing pyramid blow because the overwhelming amount of unpaid loans.

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ragna the blood edge 16/10/2021 - 11:02 PM

Bankers were selling houses to people who couldn't afford them without any logic, it's that simple but they made it way more complicated with the cdos and later synthetic cdos which doomed the economy and really for the people who saw it coming they knew it was inevitable

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David Brandow 16/10/2021 - 11:02 PM

To quote Luke Skywalker: "Amazing. Every word of what you just said was wrong."

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vance edwards 16/10/2021 - 11:02 PM

What about my interest on my savings mr banker. What about my off shored job and the trillions you stole from me in wages ,mr fxxking banker.

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bjbell52 16/10/2021 - 11:02 PM

PEOPLE -> any explanation that doesn't conclude that the #1 cause was keeping derivatives unregulated isn't worth listening to!

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Igor Alexeev 16/10/2021 - 11:02 PM

When the title (book, lecture, blog, etc.) says "the real truth" – run away! Behind it is an illiterate ("unreal truth"??) and incompetent populist.

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John Talbot 16/10/2021 - 11:02 PM

But aren't the federal banks owned by the different major American and international banking groups (as shareholders) like Citibank, JPmorgan, HSBC, deutsche bank, Goldman sachs.etc, etc….so they have influence and awareness of the federal bank activities …such as the changing of interest and lending rates and the printing of money and bonds etc etc.all still smells like a Ponzi to me.

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B Hove 16/10/2021 - 11:02 PM

Such BS, SMH

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Fluoro Proline 16/10/2021 - 11:02 PM

I'm sorry for my primitive knowledge in economics, but interest rate is not the cost of house. It is the money that banks take for themselves on top of the price. Low interest rates don't mean that housing got cheaper. This is not how it works. Perhaps if the banks acted more responsibly at giving away all those loans, and people were acting responsibly at taking them, there wouldn't be the bubble in the first place.

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Lone Wolf 16/10/2021 - 11:02 PM

This person is just lying about what actually happened. It has been proven that Trickle Down has never worked, will never work. The Free Market has failed repeatedly. What caused this was Deregulation. The same as The Crash of 29.

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Leela T 16/10/2021 - 11:02 PM

Do you think we are entering another Great Depression? 2020 to 2029?

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MarketOracleTV 16/10/2021 - 11:02 PM

6 years of hindsight, what a moron!

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