Soros.
"Setting the Stage"
The moment of collapse: Aug 6, 2007 with the bankruptcy of American Home Mortgage.
By Aug 9, European institutions begin to collapse.
Aug 16, Countrywide slides down.
The Fed and Central Banks release cheap money to stop the trend.
American housing loans and subprime loans collapse, creating a huge problem.
Hedge funds step in.
Bubble inflating rapidly.
Pressures grow on the banking community.
Residential real estate under intense pressure.
Soros explains how the give and take of borrowing and the behavior of entities such as the Fed have caused the bubble to inflate even more, reaching a point where the usual methods of control fail. By not intervening properly the whole financial world plunges in 2008.
This is a descriptive history of the events that led to the Great Recession, and how the insistence of maintaining the usual methods for repairing the deficits has made the situation far more dire.
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