Stories from 2008's Great Recession | 60 Minutes Full Episodes
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Published 2023-02-18
#60Minutes #Economy #GreatRecession
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00:00 Introduction
00:11 Your Bank Has Failed
13:25 The Case Against Lehman Brothers
26:50 Bank of America
38:58 Where's the Bottom?
All Comments (21)
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I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
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I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27k this month. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve.
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I used to think everybody went broke during the Great Depression and other major crashes but they didn’t… Some made millions, I also thought everybody went out of business during these times but they didn’t, some went into business, there's always depression/recession for some people and there's always a good time for others, it's all about perspective.
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America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.. Lloyd Bernard
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Thank you 60 minutes for uploading these. It's so important to have easy and free access to our history so that we can learn from the past.
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Bad year for me, META down 40k, ALLP down 35k, Draft Kings down 6k, NIO down 15K, ABML down 8k, and my wife doesn’t know. I'm just hanging on to Jim Cramer's words about opportunities in volatile times so perhaps, I either wait for a recovery or pick profitable investments to substitute for my loss.
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So I remember I just got married and got my first home few months before the crash happened in 2008, with huge mortgage loans, of course, and a couple tens of thousands of dollars in the stock market, which got wiped out while I lost my home. It really ruined my finances. I have since recovered, and have been able to build up to $380k again in portfolio, but I can see the trend again, and I'm really worried about how to protect my finance this time around.
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With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. My portfolio suffered a big hit, holding it further won’t be any good. I've heard of people netting hundreds of thousands this red season. How can I ensure this?
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Still with Tesla stock, investors can never be sure what will happen next, bearish periods ultimately establish a new set of stocks to buy and watch while setting the stage for a robust new uptrend. I have been reading articles of people that grossed profits up to $250k during this crash, what are the best stocks to buy now or put on a watchlist?
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Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
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Recessions are an inherent aspect of the economic cycle, and the key is to get ready and adapt. I entered the workforce during a downturn in 2009. My initial job out of college was as an aerial acrobat on cruise ships. Presently, I hold the position of VP at a global corporation, own three rental properties, invest in stocks and businesses, operate my own company, and have grown my net worth by $500k in the past four years.
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Market declines, soaring inflation, a significant increase in interest rates by the Fed, and rising Treasury yields all point to additional losses for portfolios this quarter. How can I profit from the present market turbulence? I'm still debating whether to sell my $125,000 ETF/Growth Stock portfolio.
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I'm glad we are looking back at the 2008 recession. I think much of what went on hasn't been investigated properly. I know, in my neighborhood we starved. Several days with no food sometimes and this was never reported. I lived near some railroad tracks and shanty towns of hundreds of people popped up. I wish these stories of regular Americans could be told also because they certainly were not at the time.
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My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless. In just 5 months my portfolio grew by $300k in gross profit, the main thing is to diversify your portfolio and you will see amazing results by investing smartly.
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I was working for Lehman brothers right until it crashed and burned. After all these years, all I can see is insatiable greed from the top to the people who borrowed money they knew they couldn’t repay - off of houses they couldn’t milk equity from every 6 months any longer. I saw all those subprime loans, it’s ridiculous how everyone thought the good times were going to last.
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This is exactly the content I needed.
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How thoughtful of that lady to go by the bank to tell one of the employees that she hoped they were alright and she hoped no one was let go! WOW! Compassion and thoughtfulness should be shown more often.
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Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
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I believe I should watch a video on "How to survive the current recession" given the state of things. Actually, it's a complete failure. The fact that some people could still earn more than $$$k in a short period of time astounded me. If that's still the case, please explain how.
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"Usually behind great wealth there is a great crime."
