Lehman Brothers - The Bank That Bust The World (Documentary) 

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Gc0c

A what American

where were the internal controls at these firms???

Don’t trade. Buy for the long term. S&P 500, long term low cost fund. Like Vanguard. 10% a year every year since 2012. Compounded. Retired now! Or, if you like a little risk, Berkshire Hathaway. 20% a year. Compounded.

A Google search of some images of the Rothschild estates the family has owned throughout the centuries will attest to that.

@@brianallison1913 yeah but the Rothschilds probably had to sell a few homes to afford those space lasers. (If you don’t know what I’m talking about then Google it.)

Until svb happened.

😂👊🏼🍹

Until the next completely preventable crisis

GREAT 👍 MOVE

What an idiot not to see the amazing opportunity you had For max 7% interest , even if you sold your property five years later at sale value u only lost 7%

You "WOKE" up. Give yourself a pat on the back because you realized you would just be throwing your money in the trash.....

got the hell out of where? the country?

Yeah people love to blame it on the banks, but the banks were merely selling/trading garbage, they weren’t the ones buying it want… Regular people, too self absorbed to care that they couldn’t afford what they were getting into dug themselves into a hole and then were surprised when it left them with nothing… Yes the banks were greedy bastards, but if there’s anything I’ve learned from that financial crisis, it’s that we all played a part in it, none of us save for people like you and my parents who were smart enough to know their own worth were innocent… It’s our responsibility to know better, to not be so starry eyed and greedy, but we were, and we paid for it…

Thanks for the insight. How did you survive as an architect? Did you end up creating a new business or did you join one that was able to survive the crisis in the Netherlands?

@@JSRJohn After the bankruptcy I've tried to stay working on my one but because my investment (second morgtage on our house) was lost, and not only my CEO-salary was stopped but also the fee to pay for the extra interest on the second mortgage, we had to sell our house in 2015. The lone at that moment was greater then the selling price. In the Netherlands you not only lose your house but you stay in debt at you bank. (in our case about € 125,000,--) Luckily in the Netherlands there is a system called "Wet Schuldsanering Natuurlijke Personen" If a judge allows you to take part in this system, after a "sanitation-period" of three years your are square. During this period your salary and that of your spouse (or children living with you) is cut to around 60% of minimum wages. The surplus of money is reserved for the bank you ow the money to. My wife's salary was exactly the amount of monthly money we were allowed to keep. So, every penny I'v earned (during this period you have to work and earn as much as possible) was reserved for the bank. This enabled me to work as an architect as an employee at an architectural-and stuctural engineerings office for an affordable fee. I've learned to Model BIM models in that period. My network expanded and if there was nog enough work as an architect i could work as an engineer. (Financially you could say I've worked three years for free) In 2019 after the debt-sanitation, my former employers became my associates in our new architect's office. Dutch building-economy still suffers because of the effects of the construction-and-real-estate-crisis but yes, I've survived as an architect. Still we depend on my wife's salary "to pay the rent" but at least anything I earn, we can use to have some fun in our life. (Last year we've bought a 44 year old sailing yacht to replace the yacht we owned but had to sell when my firm went bankrupt. We are on our way up). In the Netherlands insolvable debts of bankruptcy comes with great shame. Because of bad timing (I've bought the firm for over € 1,4 M in 2006, just 2 1/2 year before Lehman fell and still had to pay of the lone when the orders were withdrawn) and bad luck, We didn't had any shame at all and were able to ask for help to anyone and everywhere and lots of friends, family and even strangers helped us. In 2009 about 15.000 men and women were employed as an architect or as a creative employee (impression-artists, design assistent's interior desinger's and so on) at an architect's practice. (not counted engineers or technical drawing staff) In 2018 there were 7.000 left an now it's about 8.200 people working in our branche in the Netherlands and I am still one of them. It's the nicest job in the world.

IT WAS NOT YOUR FAULT FOR THE REAL CRISIS HAPPENED ACROSS YOUR OCEAN RIGHT INTO THE WALL STREET OF NEW YORK ❗️❗️❗️❗️ VARIABLE RATE LOANS IN THE BANKING MARKETS MAKING BILLIONS FOR VERY GREEDY BANKS .......WAS THE MAIN CAUSE ❗️❗️❗️

Nice since you can’t spell😂

Your experience is so sad both for you, your colleagues, other businesses and your country. The arrogance and disregard for people such as yourself by the top executives at so many wall street firms is egregious and makes one question if humans are essentially good or evil.

What did they do illegally

@@NathBentleyYT That's the problem. There wasn't any law against what they did. Indeed, there was a law making it illegal to charge them with a crime. BTW - I worked in the mortgaged backed securities of Lehman Brothers for 13+ years.

@@NathBentleyYT Wrecking the global economy with greedy negligence carries no direct punishment and that's the problem. Here in the US we privatize profits and socialize risk. Rinse and repeat over and over again like clueless lemmings.

One person did, call him Faul Guy.

I should have noted that the thing that hurt the banks were NOT mortgages themselves but the mortgaged backed securities that used those mortgages and more than that - the derivatives (in this case Credit Default Swaps) that were used to insure those MBS's. Since there were no regulations on derivatives, investment banks could do what they wanted with them and they learned they could make $$$$ buying and selling them like stocks. The biggest problem with the lack of regulations was their ability to have between 7-10 "insurance policies" on one MBS. If a MBS lost $10 million, the sellers of the CDSs had to pay out $100 million and that was the REAL cause of the problem.

If someone told me that I could sell my house for a profit, it WOULD occur to me that if my house value went up, so did everyone else's in the area. That would be true even if no one else got the same loan I did. Nobody would have to "tell" me this: it's just common sense.

@@purselmer5931 - In 2005 there was an article in the New York Times that said millions of variable-rate mortgages were going raise their interest rates dramatically in 2007. I STRONGLY recommended that my friend sell his house ASAP, while the market was high. He didn’t, and he lost all his equity. Apparently, millions of people were either unaware of what was going to happen, or weren’t concerned. In the United States, half a million homes were repossessed in 2005. In 2008, that number was three million. Basically, almost no one saw the writing on the wall.

@@thetooginator153 Oh, I completely agree. There were those who refused to listen to their own common sense, probably lured by the idea that they could keep up w/the Jones's and felt pressured by that to buy much more than they could afford. I am well into my 50's and have bought and/or owned five homes. For my 3rd home, the bank pre-approved me for literally DOUBLE what I was comfortable paying. When my realtor kept pressuring me, I changed realtors and bought a house that I KNEW I could afford. When the 2nd realtor asked why I wanted to stay so low when I qualified for so much I said, "Because I like eating and putting gas in my car too!" That was the last time that that realtor and I discussed it and she said I was "smart." LOL

And that greed and low interest 20 years later pushed out any young adults from a possibility to own a home as a single person. In England the prices went up 5-10% year on year and I`m 29 and I have to become a manager to afford a house myself in England, where you only get a 2-3 bedroom tiny home for a mortgages shared between 2 person as they not giving people more than 4 times your yearly salary (+20% downpayment) and I only make 30k with a BA degree while houses starts at 150k. I hope the housing market collapses again so I can afford to buy an old house that needs refurbishment. Wish I was a boomer not millenial

@@davids8127 Hey hey, don't act like us older people didn't get affected by this (I am NOT old enough to be a boomer though). When the house prices went so high b/c everyone and their mother was affording a mortgage, that made the rest of us have to get smaller or fix-me-upper homes too. This b.s. affected EVERYONE.

People like fuld need to spend time in jail. Serious time. Like decades. Instead, regulation is stripped away and soon we will go full circle with another round of tax payer funded bail outs. This is shifting public money into the hands of a few individuals under the guise of saving the economy.

He makes in 1 year more than most in a lifetime.

What gets me is he showed no remorse to the millions of peoples lives and businesses that he ruined due to his mismanagement of the company. Yeah he is filthy rich but what about the victims he basically stoled from..

Dick was a nasty primate whose hubris knew no bounds. Hearing how the man who ruined millions of peoples lives, refused to acknowledge underlings shows his true “lack of character”. I hope he has trouble sleeping at night but I doubt he does.

Well said

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I am going to look her up too, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.

Worked for them upto there collapse, we designed and built there datacenters in asia, they went bust owing us millions, put us out of business, only to be told at bankruptcy Lehman UK (our employer) was bankrupt but solvent and wed be paid in full.

So did you return all the money you yooked while you "worked" there? Its an honest sincere question I mean after all you seem to be very disgusted with the outcome. so were you mad because of how things were run or mad and left because you guys knew years before that your system would kill the American economy by bankers greed and you didn't want to go down with that ship??

@@marc2638 We built trading floors and datacentres that handled more transactions than you would know what to do with. We quoted for work and was paid. Bank or not, you get paid for the job you've done

I'm sure it's not a great sign for company culture when your CEO has "The Gorilla" as his unofficial nickname. Yes. I also worked for Lehman. Left the spring before the collapse :)

@@Jonteponte71 All my staff call me a cunt mate, and i dont give a rats ass, i pay well, they fuck up there held accountable they do well they get a bonus. Theres nothing new in staff hating there boss

Hahaha 😆

Lol Ponzi tried to make his mess right, he's a choirboy compared to corporate scum

ponzi will look like saint, these bankers bet against their investors and they peddled this house credit AAA. Pure evil

the whole USA bankingsystem is a fraud. and they have control to ALL banks in the world except N-korea. ALL the bankingsystem is made by them, swift system, petro$, US $ printing machine, BIS, ECB, IMF, FED, worldbank, bank of asia, all in control USA

I beg to differ, that honor goes to the one and only Bernie Madoff!

All big corps are just a cohort of centralised system working together, and any damage to one can have a dangerous ripple effect on every other one. I learned a long time ago to not trust corporations. Most of my money is in the stock market and my businesses. I keep only what I need to spend in my checking account.

@Dave Delva Impressive! I've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging, who's the professional coaching you?

@Dave Delva Thank you for this Pointer. It was easy to find your handler, he seems very proficient and flexible. I booked a call session with him.

@@bernisejedeon5888 careful! He lost or perhaps scammed me out of sizeable % of my investment account.

Exactly. Foolish republicans.

Great, isn't it?

@@PH-md8xp you mean stupid democrats? Sleepy joe screwed us

@@PH-md8xp it was both Democrats and Republicans who passed bills forcing the banks to lower decades sold standards on lending. Remember Clinton’s campaign of every American should own a home? Your partisan BS is just that, complete BS

It sure hasn't.

It never will, there is a conveyor belt of entitled vips, ie. parasites that will continue to find a way of feeding off the big money teat.

New one is out, but yet world still in the past one 😮😂😂😂 isn’t that amazing speed with these financial genius’s 😂

The SVB situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,” It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor.

I agree, having a brokerage advisor for inveesting is genius! Amidst the financial crisis in 2008, I was really having inveesting nightmare prior touching base with a advisor. In a nutshell, i've accrued over $850k with the help of my advisor from an initial $120k investment.

@@ZITABELCOMEDY-xf1ws I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

@@MalindaDeleon The investment-advisor guiding me is Laura Marie Ray, she is popular and has quite a following, so it shouldn't be a hassle to find her, just search her

@@ZITABELCOMEDY-xf1ws This recommendation literally came at the right time, I’m down by $6k in stocks this week alone.. its crazy! I just looked up Laura Marie Ray online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.

I think it was a wall street guy who said this to Matt.

The less regulation, the more greed is involved.

100%. That was such an insightful & accurate comment!

@@davidvergolini9740 totally disagree. We need the “right” regulation & they should never bail these crooks out… they went wild knowing they could just cry to government about collapse and they’d be saved.

@@Showmetheevidence-wrong. The financial crisis shows us what can happen when there is no regulation. People get greedy and the middle and lower class suffer.

Well said 👏 👌 👍

Well said Sir

They should have never been bailed out sets a bad example for company’s that big and so called important

Well said, depravity is their code

🔥

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That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

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Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.

You should have had a rainy day fund and not over extended yourself

@@pattimaeda6097 oh how I wish it had been that easy! Problem is I was at the time a single working Step Dad, and it was nigh on impossible to save money. I don't know where you're based but here in the UK there's zero help for single Dads no matter what the circumstances are. I respect what you said; in hindsight I shouldn't have taken the commitment on but it was marketed in such a way that I was reassured I would have no problems. Without a doubt it was the insurance policy that was an absolute con. I consider myself as lucky. From what I can gather, hundreds of millions of people lost everything and are in a far worse position. For those, I have every sympathy.

@@martinherts1967 you don’t have to explain anything to patti or anyone. She probably couldn’t walk a mile in your shoes. I’ve had the absolute pleasure of working with the insurance company about a work injury. NOT FUN! 3 years later I’m just now having surgeries. Trying to navigate insurance, kids, injury and everything is no walk in the park with or without a rainy day fund. I pray you’re back on track!

@@pattimaeda6097 as a homeowner who came close to the chopping block, I have to stress that rainy day funds don't really work in dire straits. Things started to fall appart very quickly and if I hadn't gotten help from family, friends and a good amount of luck I couldn't have kept my property. I met also other people in similar or worse conditions and we could all agree that the Illusion of being in control is far more dangerous than the presence or absence of emergency reserves.

Sounds like you are blaming a sub prime problem for your weak spine and crappy insurance?

Remember what he said I like to eat everybody's heart out well I guess he got his heart eating out

but sorry , leveraging was the only way for them earn billions instead of million ... you should not be jealous .. become a bankster and a billionaire yourselve !!!! who caress of normal people - noboday who is rich ...

His service should have been making license plates, or making little rocks.

Most of the heads of the top bank followed the same mantra as Dick Fuld; the difference was he was the most greedy.

@Chris Summers: This wasn't incompetence. These guys weren't stupid, they left FABULOUSLY RICH. The found a loophole and blew it open, knowing full well the damage, when it crashed. THEY BLEW THIS BUBBLE... knowing all bubbles burst.

It was pure greed and wretched excess.

Greed

The banks just chased profits and targets and got complacent like always

Not to mention leveraging themselves to the tits.

AS Banks write down loans they can equally grow exponentially, where as the general public would spend half if not all of thier lives to recover.

Exactly on point. Greedy white collar ass holes.

Lovejoy That's assbackwards. The problem was caused by building TOO MANY homes for which there were not enough qualified buyers. Then Chris Dodd and Barney Frank pressured the banks and Fannie and Freddy to start loaning mortgage money to unqualified buyers, in the belief that if the unqualified buyers defaulted, the houses could be re-sold at a profit and the defaulted mortgage paid off with the re-sale proceeds. Big mistake.

@@clarestucki5151 correct. The OP is wrong - UK banks have good capitalisation levels, mainly due to laws put in place post-Lehman. Climbing interest rates are also building their profits.

If they can make a profit, they will build. The issue in the UK is the wage gap between top and bottom which translates in house prices. 1/3 of UK housing is funded by the state. It is NOT an issue of being over invested or not investing enough as posted by the commentator which is a straight up contridiction. This was a financial crisis not a property crisis.

It's precisely at times like these that investors need to be on guard against the next certainty. You don't have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a CFP seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy, coupled with the exclusive analysis, it's quite impossible not to outperform. Netted over $550k in ROI since then.

@@Ammo-Hoarder Make lot of sense, good for you though, unlike us, you seem to have the market figured out. How were you able to make such sum?

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@@Ammo-Hoarder I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.

He's the poster boy for ultimate Corporate Greed and lack of any ethics...a real life villain

On the other hand, investors/wall street doesn't want Billy butter cup as CEO. They demand a Godzilla corporate psychopath to increase the bottom line at any and all cost.

sbf makes fuld look like noob

Serious bad luck for that guy

Thanks, please do check out our other videos and subscribe. We have new content coming

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John Desmond Heppolette, really seem to know this stuff. I found his online-page when made a google search of his full names, read through his resume, educational background, qualifications and it was really impressive. I left him a note and booked a call session with him..

Greed is the primary characteristic of the people belonging to the tribe

@@mskidi Now, now, there, be careful. All tribes are susceptible to temptations.

@@RUHappyATM Sure, thats why the Fulds', the Maddoffs, the Bankman-Frieds, the Boeskys, the Jordan Belforts etc all belong to different tribes..

What a name.

@@Dutchy-1168 dude, that makes no sense. I don’t like Dick Fuld but he did not do anything illegal. His bank made stupid investments but they were not illegal. Bernie madoff literally took peoples money and did not invest it like he said. That was illegal.

Bet on it 😝

he currently works @ Matrix Private Capital Group ,72 years of age an still getting away with ripping folk off

His name's Dick Fuld. Fuld. It was spelled out at the beginning.

there's a revolving door between government - Wall Street and the regulators.

Absolutely. They profit individually whatever happens hence their arrogance in the face of their stupidity. This will only stop when executives are made financially liable.

nothing. he lost nothing.

@@alfredthegreat9543 WHAT makes you think the bank heads were stupid??? THEY MADE BILLIONS..ignorance is just their EXCUSE.Compared to them, Madoff was an amateur...and HE'S in prison. Deregulation is a license to steal...THEY walked away rich...

@@FrekeOne guess he a pal of trump or PUTIN.

Thanks for coming by. Definitely check out our other videos

It ruined the economy for the next 10 years and we are still recovering from it, just because the government wouldn't fund 30 billion, the entire world lost trillions.

JPMorgan

100% agree. COVID was another example of why bailing anyone out for poor planning wreaks havoc on all of us. Stimulus checks, bailouts- none of it should have happened.

I'd advocate axing of the Top management rather than letting the Bank fail.

@@ByzantineCapitalManagement what would have happened if the bank failed altogether?

Jamie Dimon is a farce and fraud, and just as guilty as the rest.

its amazing to me that u think there is a big difference between Fuld and Paulson, these people are all intertwined and were all making hundreds of millions of dollars from the system that was doomed to fail long term but short term making an astronomic profit, Paulson pushed the government to pass the law on higher leverage for banks btw. There is nothing that Lehman did that all of the other investment banks didn't. They all knew what was happening, people who could do anything to stop this got paid to do nothing.

What happened with the recent Epstein case??

They should all be in prison having their $h!t pushed in by some lifer.

All investment banks are, JP morgan single handedly bankrupted Greece

@@davids8127 indeed

Stop crying

@@jakelamotta7904 Jake LaMotta😃still fighting Jake?

Of course it's going to happen again! I'm still trying to figure out how in the world a bank gets to the point where the government bales them out along with the car manufacturers?! Then amazingly bank shut down or open under another name along with the car manufacturers either selling to the Japanese or the Chinese, but haven't heard about nobody paying the money back! Now I wish someone would explain to me how that's done, short of walking off with a windfall!!!!!😡

Writing this in 2023 it is happening again .

@@vanessawilliams4432 Good question. Perhaps it's because this money is created inside the banking system. It seems sort of like if we could print our own money and buy stuff with it and if we make a profit, we get to keep the profit. But if it goe bust, we can just print up some more money and start over. But like George Carlin said, "it's a really big club but you ain't in it".

it was all planned. thats why. it gonne happen again now. Look at the rich, they all are selling there stockshare's..... look at Pelosi.........5.000.000.000$ sold last weeks.

This was immoral and straight stupid…but not theft. They didn’t go to jail because no law was broken. What these bank ceos deserved was to get fired and not go back into the financial industry. With regulations today and the lack of subprime mortgages, chances of this happening again are low. The recession we are currently in is due to different reasons.

You might also follow a lot of other fascinating stocks across other industries. I'll advise you to work with a financial advisor who can assist you decide when is the best to buy and sell the shares or ETFs you want to acquire since you don't have to act on every forecast.

@@trazzpalmer3199 I've been talking to a coach named Maria Juliana Ramirez for a long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.

@@graceocean8323 we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?

@@hannahdonald9071 My Financial Advisor is MARIA JULIANA RAMIREZ. I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can run a quick online research with her name if you care for supervision. I basically follow her market moves and haven’t regretted doing so.

I'm literally holding onto straws right now, so your tip couldn't have come at a better moment! I plan to call her after doing a quick internet search for her.

Top level bankers always get away with it. The workers would of no doubt faced issues having the Lehmann Brothers name on thier CV when looking for thier next role. If there were any left

Can u explain me more please I wanna knoe every detail

​@@sabinabasnet7963 ie. Living-Off Other-countries' investments(like Parasites) .

​@@sabinabasnet7963 ie. Living-Off Other-countries' investments(like Parasites) .

+1 .. Agreed. .. Informative, entertaining, well done.

This stuff takes way longer than 6 months to setup & then collapse.

It's all just jews taking as much as they can from people.

@Ryan shuell : OF COURSE Fuld knew what was happening. He, and his cronies were making MILLIONS yearly. Deregulation merely removed the risk TO THEM, LEGALLY. And now they're pretending to be idiot 8yr olds...AND YOU'RE BUYING THAT TOO...

BULLSHIT. I worked at Lehman Brothers and I KNEW their investments in derivatives was bringing the company down. But I was just a computer programmer and had ZERO say so in what Lehman was doing!

@Charles Martell Oh yeah. One of the first ones to go.

Banks were used as medium for greatest of larceny the USA have seen.

With the invention of mutual funds on the like of Black Hole that was specific to suck anything related to $$€€ and the like.

@Dale Slover: The banks would green light ANYTHING,viable or not. Needed or not. It was the same with what would be the glut of empty new office space...and the east coast wasn't alone in this...

Could be worse……you can get a regulator who knows nothing about banking and have them do real damage.

@@8fconsulting147 how about a regulator who cares about the ordinary bank customer who just wants to get loans when needed and have someplace RISK free to keep their hard earned savings? Poulsun was asleep at the wheel in 2008 or he's completly corupt.

*Masters* of the universe

@@14031993 thank you I have corrected it now

the FED does exactly the same thing, PRINTING money from nothing........

It’s called hubris

He should have to work the drive thru at taco Bell the rest of his life.

Wrong you should be in a prison cell

In my opinion, some of the banks was attempting to restructure their bond portfolio, which involved selling their low-yielding bonds despite the potential loss, and compensating for it by buying higher-interest-rate bonds on the open market.

Despite the economy's resilience thus far, the banks scenario cautions that the effects of Federal Reserve rate hikes persist. During such periods, investors must remain alert to anticipate what comes next. It is not necessary to act on every prediction, so I recommend seeking the guidance of a financial advisor, which has been my go-to advice for some time now.

I'm intrigued by your experience. Could you possibly recommend a trustworthy advisor you've consulted with?

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Marisa Michelle Litwinsky” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

Interesting. I am on her site doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call.

Sounds good. Once you beat the capitalist game you flat out don't make more money just get capped you've already won what else is left to do?

The Lehman brothers collapse was just the symptom not the disease!

How dare government would not use tax payers money to bail out a man who earned $500m a year? 🤔

And they're terrified of socialism when it's about protecting people from medical bankruptcy and student loan debt.

To hear bankers act as if there important or worthy of the peoples help is sickening. The ego of these people is so perverted.

What!? What about capitalism? I don't think real true capitalist should ask the wicked government for money. Let the market regulate itself. And whatever else people say.