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How AIG Crashed The World Economy

Wall Street Millennial 92 views

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Domino theory
Comment from : @isokabooks3758

Was thuu I s the sponsor to Man U in 2008
Comment from : @capykid45

Here, in California, Brand New very nice homes were actually bulldozed down to the ground
Comment from : @raywhitehead730

While many people Lost their homes And millions lost value in their homes And hundreds of thousands lost their jobs The top administrators at AIG walked away with large amounts of money
Comment from : @raywhitehead730

In 2010, I did some consulting at AIG While there, I met the information, technology folks that came from the arm of AIG that had written all of these credit, default, swaps, and almost brought down the world economy Seldom have I ever met such arrogant people, as the ones that came from that particular arm of AIG only two years after they nearly brought down the world economy
Comment from : @wbwarren57

Crazy to think we let CDS be a thing and no one thought anything bad would happen
Comment from : @wale7342

Insurance is SCAM
Comment from : @simplemechanics246

AIGbrAmericanbrInternationalbrGreedbr😢😢😢😅😢😅
Comment from : @jefframos

We here
Comment from : @Smicheal

AIGadventures in Greed
Comment from : @tigerscott2966

Love the caricatures at 3:24 😂
Comment from : @NordicAxe

OMG, Alogos Inside Garage Will Saving You Pssttt Promises 2:21-22
Comment from : @richardsianipar4103

So that is why they sponsored Manu or Manure!brPeas in a podbrThought AIG were a solid insurance business with American origins at the timebrAll clear now
Comment from : @dongorgon4168

You should cover how AIG got bailouts by Americans tax dollars and their management still receive their bonuses
Comment from : @johns3465

they were not bailed out by the US government, they were bailed out by the taxpayers aka YOU and ME
Comment from : @ruth4831

I am sure that CEO and Board ended up at prison
Comment from : @mikema4896

Me after watching this video: "Wtf is a mortgage?"
Comment from : @Void-yl9om

If SEC File No S7-32-10 tells us anything the institutions are back at it with their sketchy swaps
Comment from : @dk1415

Nothing is too big to fail Let them collapse It's their fault to begin with
Comment from : @burntrubber7458

AIG "AND I'LL FUCKING DO IT AGAIN"
Comment from : @mattweger437

when i see aig, all i can see is man utd kit 😅
Comment from : @samallardyce2522

3:46 the guy on the right has never worn a suit in his life
Comment from : @dansplain2393

I remember after they got 150 billion dollars, the head of AIG was going to the government that it wasn't enough that they needed more money I think that went on for several years the asking of more money, it's incredible this is why when there's a revolutions the first one to go to the firing squad and get put up against the wall are bankers and the financiers👍
Comment from : @angelmarcano6747

I would have been fine with the bailout if some executives had gone to jail But there's no consequences for crashing the economy with your greed
Comment from : @tsmall07

Warren Buffetakacaptain save a H*
Comment from : @meowmeow1733

I think I need to eat more, until I become too big to fail
Comment from : @TheNefastor

Kinda funny how the insurance business comes off as a pyramid scheme after watching this video
Comment from : @Michael-mz6uf

It was too big to fail because AIG held the pension fund for Congress They always knew Congress would bail them out
Comment from : @OneEyedLion

It wasn't crashed It was planned to introduce Bitcoin
Comment from : @TheKiyoshi04

Ah yes, the smart money
Comment from : @aightm8

I’m a loan signing agent in college and had always wondered why I always saw loans from non-banks It didn’t take long to figure out people don’t trust banks with their loans
Comment from : @kendellfriend5558

When company desperate, they call warren buffet, same goes to GE
Comment from : @syahmifaqihin4527

AIG sold those products from the UK, they were illegal in the USA The guy who sold it in the UK is living the high life in London
Comment from : @fredvergraaf8953

Nothing bunch crooks
Comment from : @cromeaxe

The question is, did we learn anything? I think the public did learn to not trust Wall Street Is it time for another reminder? Perhaps The biggest danger we face is Amy Coney Barrett and her pro-business agenda getting us into trouble again And everybody forgets Phil Gramm and his deregulation push that got us into this mess in the first place
Comment from : @andymachala999

scumbagswhy did none of them go to jail?
Comment from : @alexg3348

If you drive a Nissan rouge your a loser!
Comment from : @nitricwave6943

Moral of the story, when the problem is small it is your problem But when the problem is big it is US government's problem So go big or go home The US government will pickup the tab if you can make the problem so big it isn't your problem anymore
Comment from : @nickl5658

Nobody forced the US government to bail AIG out, the government chose to have taxpayers pay the price for bad corporate investments they could have let them collapse and other companies would have bought the assets for pennies on the dollar and life would go onbrbrNow the precedent has been set that the taxpayer will bail out bad investments, is there any wonder why Wall street has taken on even riskier projects over the last 13 years?
Comment from : @Jonathan2342

This is a lot more important than what most people realize Good video!
Comment from : @ILOVEPOOL143

And none of these crooks went to jail
Comment from : @edgardogonzalez916

Why do you keep asking what’s up? Nothing’s up
Comment from : @Richardglendenning

Noticed that no mention was made of the fact that Carter told the banks to lend to unqualified borrowers under penalty of prosecution for discrimination This in turn forced the banks to defend themselves the only way they could and still make a profit so they bundled these sub-prime mortgages and sold them into the secondary market as investments It snowballed from there When you had to have at least 20 down and a decent job to get a mortgage things ran smoothly The radical left wanted to insure a big voter base by allowing people to get mortgages without any down payment and no realistic way to pay for it Same thing is happening right now, it just hasn’t gotten so bad that financial institutions are in trouble Yet!br President Trump had the banks back to lending in a secure manner and the democrats screamed so they relented and now we are back to lending with no money down and maybe a job, if you don’t get laid off
Comment from : @normanreed572

And no one went to jail!
Comment from : @Teardehawkee

aig tried to be the house at the casino but forgot people cash out
Comment from : @jaytang4954

Imagine if you would of bought long puts in 2007
Comment from : @MmC-vn1mf

9:37 just making sure I understand clearly… are you saying taxpayers benefited because the government profited $23b from the bailout?
Comment from : @sarfito1

AIG, & all these clowns screwed "da pooch" & pasted their problems off to the American people Which lead to honest people getting kicked out of their homes
Comment from : @QuiChiYang2

It’s interesting that I’m now just hearing about AIG paying off it’s obligation with interest I haven’t studied this financial crisis as much as I should have, but it’s still interesting that all I hear about is bailout, bailout, bailout (it was) but never the other result That said, further strings should have been attached to upper level management with that financial backing
Comment from : @nateanglin6584

Obama got hustled by Wall St People should have gone to jail Obama talked a big game but did nothing Guess what? Wall st was a big Obama donor
Comment from : @newyardleysinclair9960

AIG did not charge enough ($) for the risk Obviously "Actuary Risk" was sorely lacking Being an Actuary was once a true skill A license is not income, so paying tax does not apply
Comment from : @cinemaipswich4636

Bernankewhat a shyster "too big to fail" and too rich for jail
Comment from : @noneofyourbizness

Love the vids and content but it sounds like you are in a closet or something
Comment from : @EE_E38

AIG was the new enron
Comment from : @londonman8688

AIG moved alot of money out of UK that they should not have
Comment from : @londonman8688

They manipulated the libor number until it didn't make sense anymore
Comment from : @lupusdei0819

The treasurer of Citadel Securities Resigned today boys
Comment from : @stocktawk

Ny father was the VP underwriter of the department from 03-09 cant believe he let this go 😂
Comment from : @technoguyify

Creating & Selling Investment Grade Securities to Customers Derived from the Market Bubbles is a Favorite Business of Financial / Non Banking & Insurance Institutions , Hedge Funds & Commodity /Stock Markets knowing fully well that these are just Castles in the Air When True Commercial Businesses offer them Little to No Return GREED
Comment from : @puti2147

Answers in Genesis achieved something? Who knew a trailer full of trash could be so damaging
Comment from : @cliveadams7629

Why isnt there already established special conditions applied for any company considered “too big to fail” So they arent allowed to play around and gamble with the WHOLE economy
Comment from : @archangelz558

Thanks for itbrAlmost no one talk about what AIG did during this collapse
Comment from : @graymars1097

U all realize it was plan They walk away with billions They purposely told home owners not to send payment to force a refy They refuse to refy people and default them The whole thing was plan every one lost it all and they made billions from the bail out
Comment from : @primeroultimo

how ironic? promise to pay in case of default and you default yourself? be responsible
Comment from : @tedchou12

They should have let the system crash, they took the risk along with the banks I do not believe that our government made a penny from that deal , it's all a lie
Comment from : @gregorycross2200

Ppl hate on paulson but l think he saved the usa and did a heroic job
Comment from : @jakelamotta7904

I see something I love the channel I like reversals
Comment from : @vincentbiondo7019

Derivatives are a horse race AIG bet on a horse bankers had wounded and it lost
Comment from : @aquarius5719

Can you do a video in Morgan Stanley?
Comment from : @fabz2874

8:35 Translation, the rich didn't want to become poor from malinvestment
Comment from : @rexmann1984

Fun fact: the landlord of Lehman Brothers European HQ in London had their rented insured by AIG The concept of correlated counterparty risk wasn’t taken seriously prior to ‘08, everyone assumed the financial markets were invincible and company balance sheets had access to infinite liquidity
Comment from : @beatenbytheclown

citadel bye bye
Comment from : @AMCApes

Why don't any of these people ever go to prison? 🤦🏿😤😡🤬
Comment from : @MrInfumus

The government should have let them burn and let it play out
Comment from : @stevenw373

Could you imagine the guy that bought puts on this thing one afternoon Holy shit
Comment from : @KLK01

Yup Remember people, just because something is worth billions of dollars and everybody and their mother beliefs fimly in it, does NOT mean that it is NOT a scam
Comment from : @erfho8y

400 billion on swaps, 400 billion on mortgage swaps that were sub prime and traded based only on aig's name HFS!!!!!!
Comment from : @edwardangelus5832

Tax payers didn't benefit, the government did
Comment from : @adama7752

The concept of "profit' here is funny $23 billion dollars being the fee for nearly destroying the world economy and causing millions of people to lose their homes seems really really small If the people of this society weren't so poorly educated and focused on just barely surviving, we would have had another french revolution with guillotines pulled out
Comment from : @StreyX

Should’ve let them all fail
Comment from : @FuttBukkr

They're a hell of an excess liability market they are still not adverse to catastrophic losses
Comment from : @davidnelson2204

ppl underestimate how importend it is for companies to fail
Comment from : @kungfujoe2136

Great video!
Comment from : @firelordsozin3677

You make some great content Thank you
Comment from : @gourmayo

Dude that mic sucks
Comment from : @ednure

I was working for a large home improvement company I was riding with my boss about 6 months before the crash He said all these homes will be in foreclose in the next year And he was right We used AIG for our Less than B customers But A year before this crash They wanted to buy up all of our A paper My boss Financed himself all the A Paper But AIG was offering stupid money to buy all of our A paper So the boss sold it to them The next 2 years my boss finance all the work
Comment from : @MrJking065