How Lehman Brothers Collapsed | wolff responds

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In this retrospective on the 2008 financial crisis, we analyze the catastrophic failure of Lehman Brothers. First, wolff responds to the critical question of how a 158-year-old institution could vanish in a single weekend, triggering a global economic meltdown. We explore the history of the firm, from its days trading cotton to its aggressive expansion into the housing market.

Throughout the breakdown, wolff responds to the evidence of excessive leverage, explaining how a 30-to-1 leverage ratio turned record profits into existential ruin. We also look at the culture of the firm under CEO Dick Fuld; specifically, wolff responds to the dangerous "Master of the Universe" mentality that blinded leadership to the looming disaster.

The video also covers the human cost. Wolff responds to the tragic stories of investors in Singapore and employees in New York who saw their livelihoods evaporate overnight. Finally, looking at the regulatory changes made since 2008, wolff responds to the ultimate query: have we truly fixed the system, or is history destined to repeat itself?
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Keymoment
00:00 The Collapse Begins
08:15 From Cotton to Finance
16:45 Hubris and Toxic Culture
24:30 The Subprime Trap
33:20 Bankruptcy and Aftermath
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#economics #politicaleconomy #mindtofree

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