- published: 24 Jun 2016
- views: 28795
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remove the playlist2008–2012 Icelandic Financial Crisis
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Financial crisis
The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in changes in the real economy.
Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time.
Types
Banking crisis
When a bank suffers a sudden rush of withdrawals by depositors, this is called a bank run. Since banks lend out most of the cash they receive in deposits (see fractional-reserve banking), it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run renders the bank insolvent, causing customers to lose their deposits, to the extent that they are not covered by deposit insurance. An event in which bank runs are widespread is called a systemic banking crisis or banking panic.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Financial_crisis
Financial crisis of 2007–08
The financial crisis of 2007–08, also known as the global financial crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s. It threatened the collapse of large financial institutions, which was prevented by the bailout of banks by national governments, but stock markets still dropped worldwide. In many areas, the housing market also suffered, resulting in evictions, foreclosures and prolonged unemployment. The crisis played a significant role in the failure of key businesses, declines in consumer wealth estimated in trillions of U.S. dollars, and a downturn in economic activity leading to the 2008–2012 global recession and contributing to the European sovereign-debt crisis. The active phase of the crisis, which manifested as a liquidity crisis, can be dated from August 9, 2007, when BNP Paribas terminated withdrawals from three hedge funds citing "a complete evaporation of liquidity".
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Financial_crisis_of_2007–08
Panic of 1873
The Panic of 1873 was a financial crisis that triggered a depression in Europe and North America that lasted from 1873 until 1879, and even longer in some countries. In Britain, for example, it started two decades of stagnation known as the "Long Depression" that weakened the country's economic leadership. The Panic was known as the "Great Depression" until the events in the early 1930s took precedence.
The Panic of 1873 and the subsequent depression had several underlying causes, of which economic historians debate the relative importance. Post civil war inflation, rampant speculative investments (overwhelmingly in railroads), a large trade deficit, ripples from economic dislocation in Europe resulting from the Franco-Prussian War (1870-1871), property losses in the Chicago (1871) and Boston (1872) fires, and other factors put a massive strain on bank reserves, which plummeted in New York City during September and October 1873 from $50 million to $17 million.
The first symptoms of the crisis were financial failures in the Austro-Hungarian capital, Vienna, which spread to most of Europe and North America by 1873.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Panic_of_1873
2008–11 Icelandic financial crisis
The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland's systemic banking collapse was the largest experienced by any country in economic history. The crisis led to a severe economic depression in 2008–2010 and significant political unrest.
In the years preceding the crisis, three Icelandic banks, Kaupthing, Landsbanki and Glitnir, multiplied in size. This expansion was driven by ready access to credit in international financial markets, in particular short-term financing. As the international financial crisis unfolded in 2007–2008, investors perceived the Icelandic banks to be increasingly risky. Trust in the banks gradually faded, leading to a sharp depreciation of the Icelandic króna in 2008 and increased difficulties for the banks in rolling over their short-term debt. At the end of the second quarter of 2008, Iceland's external debt was 9.553 trillion Icelandic krónur (€50 billion), more than 7 times the GDP of Iceland in 2007. The assets of the three banks totaled 14.437 trillion krónur at the end of the second quarter 2008, equal to more than 11 times the national GDP. Due to the huge size of the Icelandic financial system in comparison with the Icelandic economy, the Central Bank of Iceland found itself unable to act as a lender of last resort during the crisis, further aggravating the mistrust in the banking system.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/2008–11_Icelandic_financial_crisis
Podcasts:
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How Iceland's Bankers Plunged Their Country Into Financial Chaos
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt? For similar stories, see: How Iceland Became A Symbol Of The 2008 Financial Crisis https://www.youtube.com/watch?v=5PVstvW-Lws The Small Norwegian Town Struggling to Cope After the Global Financial Crisis https://www.youtube.com/watch?v=IqtB4nvgpcs Does Iceland Have a Future in the Whaling Industry? https://www.youtube.com/watch?v=80pwBUb3ms8 Subscribe to journeyman for daily uploads: http://www.youtube.com/subscription_center?add_user=journeymanpictures For downloads and more information visit: https://www.journeyman.tv/film/4557 Like us on Facebook: https://www.facebook.com/journeymanpictures Follow us on Twitter: https://twitter.com/JourneymanVOD https://twitter.com/JourneymanNews Follow us ...
published: 24 Jun 2016 -
The Economy of Iceland: How Did Iceland Recover?
Iceland's Economy had a banking debt ten times larger than its GDP. Iceland was that one Economy which went left when everybody else went right. Whilst most thought the banks were too big to fail, Iceland thought they were too big to save. It let its largest banks go bankrupt and threw dozens of bankers in jail. And yet despite its unusual approach, its Economy recovered. Going on to enjoy a decade of unbroken economic growth and high standard of living. But why did an island just outside the arctic circle have a financial crisis? What strategies did it deploy to rack up such monumental debts? How did it recover? And does its future rely on impressive tourist growth and crypto currencies? #Iceland #IcelandicEconomy #Economics ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ Enjoyed the video? Subscribe her...
published: 30 Jan 2021 -
Iceland president: Let banks go bankrupt
Subscribe to our channel http://bit.ly/AJSubscribe Subscribe to our channel http://bit.ly/AJSubscribe Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt. Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago. "We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery." At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.' Reaching more than 270 millio...
published: 25 Jan 2013 -
Is ICELAND the success story of the Financial Crisis because it let its banks die? BBC NEWSNIGHT
Just over four years ago, the tiny island republic of Iceland experienced the worst economic collapse of any European country. Growth sank, house prices plunged, unemployment soared and all the banks had to be nationalised. But unlike here, Iceland let its troubled banks simply die and since 2011, the country has seen growth average at over 2% - comfortably more than the UK. The macro economic good news however masks the pain being felt by many ordinary Icelanders. Joe Lynam was there to ask what can we learn from the Icelandic experience.
published: 07 Jan 2013 -
How it Happened - 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 htt...
published: 21 Oct 2015 -
Warren Buffett Explains the 2008 Financial Crisis
A decade after the financial crisis, billionaire investor Warren Buffett explains what was behind the 2008 mayhem, what we can do to limit the damage and opportunities missed last time.
published: 06 Sep 2018 -
Iceland Had a Revolution and No One Noticed | The Rubin Report
At the start of the 2008 financial crisis, Iceland literally went bankrupt. But the mainstream media really hasn't covered the revolution that has occurred there in past few years. The crisis in Iceland resulted in Icelanders recovering their sovereign rights, through a process of direct participatory democracy that eventually led to a new Constitution. Why do you think Iceland's peaceful revolution was completely ignored by the mainstream media? Read more about this story here: http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/ Subscribe to The Rubin Report: http://www.youtube.com/subscription_center?add_user=RubinReport Follow Dave on Twitter: https://twitter.com/RubinReport Like Dave on Facebook: https://www.facebook.com/daverubin More Dave Rubin:...
published: 08 Nov 2013 -
The Greek Debt Crisis - 5 Minute History Lesson
Click the link to get two FREE months of Skillshare Premium, thanks to our sponsorship: https://skl.sh/theplainbagel Thank you https://www.youtube.com/@FamilybudgetUa/ for the Ukrainian subtitles! If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :) The Greek Debt Crisis was one of the more recent economic disasters that required three bailouts. While Greece is far from out of the woods, here's a brief history lesson on what happened. Intro/Outro Music: https://www.bensound.com/royalty-free-music Episode Music: Faster Does It by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/) Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100794 Artist: http://incompetech.com/ ...
published: 23 Aug 2019 -
Panic: The Untold Story of the 2008 Financial Crisis | Full VICE Special Report | HBO
VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse. The feature-length documentary explores the challenges these men faced, as well as the consequences of their decisions. The Economic Outlook for 2023 | CFR: https://www.cfr.org/event/economic-outlook-2023 The U.S. Financial Crisis (1992-2018) | CFR: https://www.cfr.org/timeline/us-financial-crisis Follow CFR on Twitter: http://www.twitter.com/cfr_org Follow CFR on Facebook: https://www.facebook.com/councilonforeignrelations/ More on HBO: https://www.hbo.com/ More on VICE on HBO: https://www.hbo.com/vice Subs...
published: 01 May 2019
developed with YouTube
24:01
How Iceland's Bankers Plunged Their Country Into Financial Chaos
- Order: Reorder
- Duration: 24:01
- Uploaded Date: 24 Jun 2016
- views: 28795
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Fi...
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Financial Crisis
https://www.youtube.com/watch?v=5PVstvW-Lws
The Small Norwegian Town Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Does Iceland Have a Future in the Whaling Industry?
https://www.youtube.com/watch?v=80pwBUb3ms8
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
https://www.journeyman.tv/film/4557
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
Dubbed the 'New Vikings', Iceland's bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos.
Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: "I'm going to lose my flat. I'm going to get bankrupt. All because of the way things were handled here." Turning a blind eye, the government let banks grow ten times the size of the country's GDP. Very little profits were made from actual banking. "Banks only grew by spending other people's money, especially that of the British. It's one of the greatest Ponzi schemes in history," says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: "If we don't make some quite serious structural changes we are just setting the conditions for a repeat crisis."
ABC Australia – Ref. 4557
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
https://wn.com/How_Iceland's_Bankers_Plunged_Their_Country_Into_Financial_Chaos
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Financial Crisis
https://www.youtube.com/watch?v=5PVstvW-Lws
The Small Norwegian Town Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Does Iceland Have a Future in the Whaling Industry?
https://www.youtube.com/watch?v=80pwBUb3ms8
Subscribe to journeyman for daily uploads:
http://www.youtube.com/subscription_center?add_user=journeymanpictures
For downloads and more information visit:
https://www.journeyman.tv/film/4557
Like us on Facebook:
https://www.facebook.com/journeymanpictures
Follow us on Twitter:
https://twitter.com/JourneymanVOD
https://twitter.com/JourneymanNews
Follow us on Instagram:
https://instagram.com/journeymanpictures
Dubbed the 'New Vikings', Iceland's bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos.
Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: "I'm going to lose my flat. I'm going to get bankrupt. All because of the way things were handled here." Turning a blind eye, the government let banks grow ten times the size of the country's GDP. Very little profits were made from actual banking. "Banks only grew by spending other people's money, especially that of the British. It's one of the greatest Ponzi schemes in history," says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: "If we don't make some quite serious structural changes we are just setting the conditions for a repeat crisis."
ABC Australia – Ref. 4557
Journeyman Pictures is your independent source for the world's most powerful films, exploring the burning issues of today. We represent stories from the world's top producers, with brand new content coming in all the time. On our channel you'll find outstanding and controversial journalism covering any global subject you can imagine wanting to know about.
14:28
The Economy of Iceland: How Did Iceland Recover?
- Order: Reorder
- Duration: 14:28
- Uploaded Date: 30 Jan 2021
- views: 32436
Iceland's Economy had a banking debt ten times larger than its GDP.
Iceland was that one Economy which went left when everybody else went right. Whilst most th...
Iceland's Economy had a banking debt ten times larger than its GDP.
Iceland was that one Economy which went left when everybody else went right. Whilst most thought the banks were too big to fail, Iceland thought they were too big to save.
It let its largest banks go bankrupt and threw dozens of bankers in jail.
And yet despite its unusual approach, its Economy recovered. Going on to enjoy a decade of unbroken economic growth and high standard of living.
But why did an island just outside the arctic circle have a financial crisis?
What strategies did it deploy to rack up such monumental debts?
How did it recover?
And does its future rely on impressive tourist growth and crypto currencies?
#Iceland #IcelandicEconomy #Economics
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Enjoyed the video?
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📕Recommended Reading:
Many have asked what we'd recommend to start reading, so check out the links below. They are affiliate links, but come at no extra cost to the viewer, you'd just be supporting the Channel if you used them.
📘"Meltdown Iceland: How the Global Financial Crisis Bankrupted an Entire Country": https://geni.us/icelandcrisis
📘"The Ascent of Money: A financial History of the world": https://geni.us/TheAscentOfMoney
📘"Debt: The First 5000 years": https://geni.us/DebtTheFirst500Years
🎙The mic we use to record: https://geni.us/MicWeUse
https://wn.com/The_Economy_Of_Iceland_How_Did_Iceland_Recover
Iceland's Economy had a banking debt ten times larger than its GDP.
Iceland was that one Economy which went left when everybody else went right. Whilst most thought the banks were too big to fail, Iceland thought they were too big to save.
It let its largest banks go bankrupt and threw dozens of bankers in jail.
And yet despite its unusual approach, its Economy recovered. Going on to enjoy a decade of unbroken economic growth and high standard of living.
But why did an island just outside the arctic circle have a financial crisis?
What strategies did it deploy to rack up such monumental debts?
How did it recover?
And does its future rely on impressive tourist growth and crypto currencies?
#Iceland #IcelandicEconomy #Economics
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Enjoyed the video?
Subscribe here: https://www.youtube.com/channel/UCLiRGHCMGB14Pw0yEqLM2fQ?sub_confirmation=1
Follow AltSimplified on Social media:
Facebook: https://www.facebook.com/Altsimplified/
Twitter: https://twitter.com/altsimplified
Quora: https://www.quora.com/q/economicsaltsimplified
Discord: https://discord.io/altsimplified
Other Discord Link: https://discord.gg/gTzEznrmeY
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
📕Recommended Reading:
Many have asked what we'd recommend to start reading, so check out the links below. They are affiliate links, but come at no extra cost to the viewer, you'd just be supporting the Channel if you used them.
📘"Meltdown Iceland: How the Global Financial Crisis Bankrupted an Entire Country": https://geni.us/icelandcrisis
📘"The Ascent of Money: A financial History of the world": https://geni.us/TheAscentOfMoney
📘"Debt: The First 5000 years": https://geni.us/DebtTheFirst500Years
🎙The mic we use to record: https://geni.us/MicWeUse
- published: 30 Jan 2021
- views: 32436
2:58
Iceland president: Let banks go bankrupt
- Order: Reorder
- Duration: 2:58
- Uploaded Date: 25 Jan 2013
- views: 46397
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazee...
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.
"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
Twitter: https://twitter.com/ajenglish
Website: http://www.aljazeera.com/
google+: https://plus.google.com/+aljazeera/posts
https://wn.com/Iceland_President_Let_Banks_Go_Bankrupt
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.
"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
Social Media links:
Facebook: https://www.facebook.com/aljazeera
Instagram: https://instagram.com/aljazeera/?ref=...
Twitter: https://twitter.com/ajenglish
Website: http://www.aljazeera.com/
google+: https://plus.google.com/+aljazeera/posts
- published: 25 Jan 2013
- views: 46397
11:47
Is ICELAND the success story of the Financial Crisis because it let its banks die? BBC NEWSNIGHT
- Order: Reorder
- Duration: 11:47
- Uploaded Date: 07 Jan 2013
- views: 35457
Just over four years ago, the tiny island republic of Iceland experienced the worst economic collapse of any European country. Growth sank, house prices plunged...
Just over four years ago, the tiny island republic of Iceland experienced the worst economic collapse of any European country. Growth sank, house prices plunged, unemployment soared and all the banks had to be nationalised. But unlike here, Iceland let its troubled banks simply die and since 2011, the country has seen growth average at over 2% - comfortably more than the UK. The macro economic good news however masks the pain being felt by many ordinary Icelanders.
Joe Lynam was there to ask what can we learn from the Icelandic experience.
https://wn.com/Is_Iceland_The_Success_Story_Of_The_Financial_Crisis_Because_It_Let_Its_Banks_Die_BBC_Newsnight
Just over four years ago, the tiny island republic of Iceland experienced the worst economic collapse of any European country. Growth sank, house prices plunged, unemployment soared and all the banks had to be nationalised. But unlike here, Iceland let its troubled banks simply die and since 2011, the country has seen growth average at over 2% - comfortably more than the UK. The macro economic good news however masks the pain being felt by many ordinary Icelanders.
Joe Lynam was there to ask what can we learn from the Icelandic experience.
- published: 07 Jan 2013
- views: 35457
11:25
How it Happened - The 2008 Financial Crisis: Crash Course Economics #12
- Order: Reorder
- Duration: 11:25
- Uploaded Date: 21 Oct 2015
- views: 4483003
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 wit...
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
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Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
https://wn.com/How_It_Happened_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
- published: 21 Oct 2015
- views: 4483003
5:31
Warren Buffett Explains the 2008 Financial Crisis
- Order: Reorder
- Duration: 5:31
- Uploaded Date: 06 Sep 2018
- views: 2241468
A decade after the financial crisis, billionaire investor Warren Buffett explains what was behind the 2008 mayhem, what we can do to limit the damage and opport...
A decade after the financial crisis, billionaire investor Warren Buffett explains what was behind the 2008 mayhem, what we can do to limit the damage and opportunities missed last time.
https://wn.com/Warren_Buffett_Explains_The_2008_Financial_Crisis
A decade after the financial crisis, billionaire investor Warren Buffett explains what was behind the 2008 mayhem, what we can do to limit the damage and opportunities missed last time.
- published: 06 Sep 2018
- views: 2241468
8:22
Iceland Had a Revolution and No One Noticed | The Rubin Report
- Order: Reorder
- Duration: 8:22
- Uploaded Date: 08 Nov 2013
- views: 82098
At the start of the 2008 financial crisis, Iceland literally went bankrupt. But the mainstream media really hasn't covered the revolution that has occurred ther...
At the start of the 2008 financial crisis, Iceland literally went bankrupt. But the mainstream media really hasn't covered the revolution that has occurred there in past few years.
The crisis in Iceland resulted in Icelanders recovering their sovereign rights, through a process of direct participatory democracy that eventually led to a new Constitution.
Why do you think Iceland's peaceful revolution was completely ignored by the mainstream media?
Read more about this story here: http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/
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Kira Soltanovich: @kiracomedy
https://wn.com/Iceland_Had_A_Revolution_And_No_One_Noticed_|_The_Rubin_Report
At the start of the 2008 financial crisis, Iceland literally went bankrupt. But the mainstream media really hasn't covered the revolution that has occurred there in past few years.
The crisis in Iceland resulted in Icelanders recovering their sovereign rights, through a process of direct participatory democracy that eventually led to a new Constitution.
Why do you think Iceland's peaceful revolution was completely ignored by the mainstream media?
Read more about this story here: http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/
Subscribe to The Rubin Report: http://www.youtube.com/subscription_center?add_user=RubinReport
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Host:
Dave Rubin: @RubinReport
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Beth Troutman: @Beth_Troutman, host of @RightThisMinute
Kira Soltanovich: @kiracomedy
- published: 08 Nov 2013
- views: 82098
6:51
The Greek Debt Crisis - 5 Minute History Lesson
- Order: Reorder
- Duration: 6:51
- Uploaded Date: 23 Aug 2019
- views: 2591718
Click the link to get two FREE months of Skillshare Premium, thanks to our sponsorship: https://skl.sh/theplainbagel
Thank you https://www.youtube.com/@Familyb...
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If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :)
The Greek Debt Crisis was one of the more recent economic disasters that required three bailouts. While Greece is far from out of the woods, here's a brief history lesson on what happened.
Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music:
Faster Does It by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
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Thank you https://www.youtube.com/@FamilybudgetUa/ for the Ukrainian subtitles!
If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :)
The Greek Debt Crisis was one of the more recent economic disasters that required three bailouts. While Greece is far from out of the woods, here's a brief history lesson on what happened.
Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music:
Faster Does It by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100794
Artist: http://incompetech.com/
This video was sponsored by Skillshare
- published: 23 Aug 2019
- views: 2591718
1:35:54
Panic: The Untold Story of the 2008 Financial Crisis | Full VICE Special Report | HBO
- Order: Reorder
- Duration: 1:35:54
- Uploaded Date: 01 May 2019
- views: 16848777
VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New Yo...
VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse. The feature-length documentary explores the challenges these men faced, as well as the consequences of their decisions.
The Economic Outlook for 2023 | CFR: https://www.cfr.org/event/economic-outlook-2023
The U.S. Financial Crisis (1992-2018) | CFR: https://www.cfr.org/timeline/us-financial-crisis
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The Council on Foreign Relations (CFR) is an independent, nonpartisan membership organization, think tank, and publisher. #cfr #HBO #VICEonHBO #globaleconomy
https://wn.com/Panic_The_Untold_Story_Of_The_2008_Financial_Crisis_|_Full_Vice_Special_Report_|_Hbo
VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse. The feature-length documentary explores the challenges these men faced, as well as the consequences of their decisions.
The Economic Outlook for 2023 | CFR: https://www.cfr.org/event/economic-outlook-2023
The U.S. Financial Crisis (1992-2018) | CFR: https://www.cfr.org/timeline/us-financial-crisis
Follow CFR on Twitter: http://www.twitter.com/cfr_org
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The Council on Foreign Relations (CFR) is an independent, nonpartisan membership organization, think tank, and publisher. #cfr #HBO #VICEonHBO #globaleconomy
- published: 01 May 2019
- views: 16848777
24:01
How Iceland's Bankers Plunged Their Country Into Financial Chaos
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
...
published: 24 Jun 2016
How Iceland's Bankers Plunged Their Country Into Financial Chaos
How Iceland's Bankers Plunged Their Country Into Financial Chaos
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- published: 24 Jun 2016
- views: 28795
Hook, Line and Sunk (2009): Have the lessons of Iceland's financial collapse been learnt?
For similar stories, see:
How Iceland Became A Symbol Of The 2008 Financial Crisis
https://www.youtube.com/watch?v=5PVstvW-Lws
The Small Norwegian Town Struggling to Cope After the Global Financial Crisis
https://www.youtube.com/watch?v=IqtB4nvgpcs
Does Iceland Have a Future in the Whaling Industry?
https://www.youtube.com/watch?v=80pwBUb3ms8
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Dubbed the 'New Vikings', Iceland's bankers had taken the world by storm. But a year ago their banks collapsed overnight, leaving the country to face economic chaos.
Like thousands of once-prosperous Icelanders, Gunnar is concerned about his future: "I'm going to lose my flat. I'm going to get bankrupt. All because of the way things were handled here." Turning a blind eye, the government let banks grow ten times the size of the country's GDP. Very little profits were made from actual banking. "Banks only grew by spending other people's money, especially that of the British. It's one of the greatest Ponzi schemes in history," says this independent MP. Now Britain wants it all back, leaving Icelanders with a huge debt. With the financial world keen to move on, economists warn of the business-as-usual mentality: "If we don't make some quite serious structural changes we are just setting the conditions for a repeat crisis."
ABC Australia – Ref. 4557
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14:28
The Economy of Iceland: How Did Iceland Recover?
Iceland's Economy had a banking debt ten times larger than its GDP.
Iceland was that one ...
published: 30 Jan 2021
The Economy of Iceland: How Did Iceland Recover?
The Economy of Iceland: How Did Iceland Recover?
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- published: 30 Jan 2021
- views: 32436
Iceland's Economy had a banking debt ten times larger than its GDP.
Iceland was that one Economy which went left when everybody else went right. Whilst most thought the banks were too big to fail, Iceland thought they were too big to save.
It let its largest banks go bankrupt and threw dozens of bankers in jail.
And yet despite its unusual approach, its Economy recovered. Going on to enjoy a decade of unbroken economic growth and high standard of living.
But why did an island just outside the arctic circle have a financial crisis?
What strategies did it deploy to rack up such monumental debts?
How did it recover?
And does its future rely on impressive tourist growth and crypto currencies?
#Iceland #IcelandicEconomy #Economics
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2:58
Iceland president: Let banks go bankrupt
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published: 25 Jan 2013
Iceland president: Let banks go bankrupt
Iceland president: Let banks go bankrupt
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- published: 25 Jan 2013
- views: 46397
Subscribe to our channel http://bit.ly/AJSubscribe
Subscribe to our channel http://bit.ly/AJSubscribe
Iceland President Olafur Ragnar Grimsson tells Al Jazeera's Stephen Cole that Europe should let banks that are ran "irresponsibly" go bankrupt.
Speaking at the annual World Economic Forum in Davos, Grimsson also held his country as a model of economic recovery after its near-collapse four years ago.
"We didn't follow the traditional prevailing orthodoxies. And the end result four years later is that Iceland is enjoying progress and recovery."
At Al Jazeera English, we focus on people and events that affect people's lives. We bring topics to light that often go under-reported, listening to all sides of the story and giving a 'voice to the voiceless.'
Reaching more than 270 million households in over 140 countries across the globe, our viewers trust Al Jazeera English to keep them informed, inspired, and entertained.
Our impartial, fact-based reporting wins worldwide praise and respect. It is our unique brand of journalism that the world has come to rely on.
We are reshaping global media and constantly working to strengthen our reputation as one of the world's most respected news and current affairs channels.
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11:47
Is ICELAND the success story of the Financial Crisis because it let its banks die? BBC NEWSNIGHT
Just over four years ago, the tiny island republic of Iceland experienced the worst econom...
published: 07 Jan 2013
Is ICELAND the success story of the Financial Crisis because it let its banks die? BBC NEWSNIGHT
Is ICELAND the success story of the Financial Crisis because it let its banks die? BBC NEWSNIGHT
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- published: 07 Jan 2013
- views: 35457
Just over four years ago, the tiny island republic of Iceland experienced the worst economic collapse of any European country. Growth sank, house prices plunged, unemployment soared and all the banks had to be nationalised. But unlike here, Iceland let its troubled banks simply die and since 2011, the country has seen growth average at over 2% - comfortably more than the UK. The macro economic good news however masks the pain being felt by many ordinary Icelanders.
Joe Lynam was there to ask what can we learn from the Icelandic experience.
11:25
How it Happened - The 2008 Financial Crisis: Crash Course Economics #12
Today on Crash Course Economics, Adriene and Jacob talk about the 2008 financial crisis an...
published: 21 Oct 2015
How it Happened - The 2008 Financial Crisis: Crash Course Economics #12
How it Happened - The 2008 Financial Crisis: Crash Course Economics #12
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- published: 21 Oct 2015
- views: 4483003
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
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5:31
Warren Buffett Explains the 2008 Financial Crisis
A decade after the financial crisis, billionaire investor Warren Buffett explains what was...
published: 06 Sep 2018
Warren Buffett Explains the 2008 Financial Crisis
Warren Buffett Explains the 2008 Financial Crisis
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- published: 06 Sep 2018
- views: 2241468
A decade after the financial crisis, billionaire investor Warren Buffett explains what was behind the 2008 mayhem, what we can do to limit the damage and opportunities missed last time.
8:22
Iceland Had a Revolution and No One Noticed | The Rubin Report
At the start of the 2008 financial crisis, Iceland literally went bankrupt. But the mainst...
published: 08 Nov 2013
Iceland Had a Revolution and No One Noticed | The Rubin Report
Iceland Had a Revolution and No One Noticed | The Rubin Report
- Report rights infringement
- published: 08 Nov 2013
- views: 82098
At the start of the 2008 financial crisis, Iceland literally went bankrupt. But the mainstream media really hasn't covered the revolution that has occurred there in past few years.
The crisis in Iceland resulted in Icelanders recovering their sovereign rights, through a process of direct participatory democracy that eventually led to a new Constitution.
Why do you think Iceland's peaceful revolution was completely ignored by the mainstream media?
Read more about this story here: http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/
Subscribe to The Rubin Report: http://www.youtube.com/subscription_center?add_user=RubinReport
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Kira Soltanovich: @kiracomedy
6:51
The Greek Debt Crisis - 5 Minute History Lesson
Click the link to get two FREE months of Skillshare Premium, thanks to our sponsorship: ht...
published: 23 Aug 2019
The Greek Debt Crisis - 5 Minute History Lesson
The Greek Debt Crisis - 5 Minute History Lesson
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- published: 23 Aug 2019
- views: 2591718
Click the link to get two FREE months of Skillshare Premium, thanks to our sponsorship: https://skl.sh/theplainbagel
Thank you https://www.youtube.com/@FamilybudgetUa/ for the Ukrainian subtitles!
If you'd like to support the channel, you can do so at Patreon.com/ThePlainBagel :)
The Greek Debt Crisis was one of the more recent economic disasters that required three bailouts. While Greece is far from out of the woods, here's a brief history lesson on what happened.
Intro/Outro Music: https://www.bensound.com/royalty-free-music
Episode Music:
Faster Does It by Kevin MacLeod is licensed under a Creative Commons Attribution license (https://creativecommons.org/licenses/by/4.0/)
Source: http://incompetech.com/music/royalty-free/index.html?isrc=USUAN1100794
Artist: http://incompetech.com/
This video was sponsored by Skillshare
1:35:54
Panic: The Untold Story of the 2008 Financial Crisis | Full VICE Special Report | HBO
VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by...
published: 01 May 2019
Panic: The Untold Story of the 2008 Financial Crisis | Full VICE Special Report | HBO
Panic: The Untold Story of the 2008 Financial Crisis | Full VICE Special Report | HBO
- Report rights infringement
- published: 01 May 2019
- views: 16848777
VICE on HBO looks at factors that led to the 2008 financial crisis and the efforts made by then-Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse. The feature-length documentary explores the challenges these men faced, as well as the consequences of their decisions.
The Economic Outlook for 2023 | CFR: https://www.cfr.org/event/economic-outlook-2023
The U.S. Financial Crisis (1992-2018) | CFR: https://www.cfr.org/timeline/us-financial-crisis
Follow CFR on Twitter: http://www.twitter.com/cfr_org
Follow CFR on Facebook: https://www.facebook.com/councilonforeignrelations/
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The Council on Foreign Relations (CFR) is an independent, nonpartisan membership organization, think tank, and publisher. #cfr #HBO #VICEonHBO #globaleconomy
Financial crisis
The term financial crisis is applied broadly to a variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in changes in the real economy.
Many economists have offered theories about how financial crises develop and how they could be prevented. There is no consensus, however, and financial crises continue to occur from time to time.
Types
Banking crisis
When a bank suffers a sudden rush of withdrawals by depositors, this is called a bank run. Since banks lend out most of the cash they receive in deposits (see fractional-reserve banking), it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run renders the bank insolvent, causing customers to lose their deposits, to the extent that they are not covered by deposit insurance. An event in which bank runs are widespread is called a systemic banking crisis or banking panic.
This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Financial_crisis
How Iceland's Bankers Plunged Their Country Into F...
The Economy of Iceland: How Did Iceland Recover?...
Iceland president: Let banks go bankrupt...
Is ICELAND the success story of the Financial Cris...
How it Happened - The 2008 Financial Crisis: Crash...
Warren Buffett Explains the 2008 Financial Crisis...
Iceland Had a Revolution and No One Noticed | The ...
The Greek Debt Crisis - 5 Minute History Lesson...