Financial Crises - Part II

Part 2 of this pathway provides a more granular account of the 2008 financial crisis. January Carmalt delves deeper into the financial failures of Lehman Brothers and Michael Torpey provides his unique perspective on the Irish financial crisis, along with the associated global implications.

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11 videos • 1 hour 25 minutes

Financial Crises
The Failure of Lehman Brothers (1/2)
The collapse of Lehman Brothers stands today as the largest bankruptcy in American history. In this video January highlights the reason behind the collapse of Lehman Brothers and where did it go so wrong.
January Carmalt • 10:11
Financial Crises
The Failure of Lehman Brothers (2/2)
Lehman had a colourful history of surviving crises, specifically under the guiding hand of its CEO, Richard S. Fuld Jr. Appointed Chief Executive after its spin off from American Express in 1994. In the second video of this series on "Someone had to fail", January gives us an overview of the history of Lehman Brothers and what led the Lehman Brothers to collapse.
January Carmalt • 10:31
Financial Crises
The Rise and Near Demise of RBS (1/2): The Rise
In this video, January talks about how the seeds of unbridled ambition within RBS were sown as early as the 1980s with the-then CEO Sir George Mathewson, who had his sights set on the international expansion of RBS. She also talks about the NatWest acquisition which saw Fred Goodwin’s star rise even higher, priming him for the top role and transforming RBS into a multi-platform, global banking giant.
January Carmalt • 07:36
Financial Crises
The Rise and Near Demise of RBS (2/2): The Demise
In the decade plus since its collapse, RBS losses tally over £46bn. These stem from not just ABN AMRO, but other acquisitions including Charter one, Ulster bank, Sempra and other global wholesale operations.
January Carmalt • 10:34
Financial Crises
A Perspective on the Irish Financial Crisis
Michael introduces his series on the Irish financial crisis, starting a decade prior. He provides an account of Ireland's monetary and fiscal policies and the country's movement towards the single currency.
Michael Torpey • 13:07
Financial Crises
Global Financial Crisis and the Bank Guarantee
Michael provides an account of the liquidity crisis which was triggered by the Global Financial Crisis, and provides his thoughts on the Bank guarantee - a guarantee by Ireland of the debt liabilities of the banks in September 2008.
Michael Torpey • 11:44
Financial Crises
The National Asset Management Agency (NAMA)
The National Asset Management Agency was a vehicle designed to purchase loans from banks at their long-term value. Michael explains how these valuations were calculated and provides his thoughts on the effectiveness of the vehicle and the decisions that were made surrounding it.
Michael Torpey • 06:43
Financial Crises
Bank Recapitalisations
Michael outlines the capital injections made by the Irish state in an attempt to save some of the country's biggest banks, including Anglo Irish Bank, Allied Irish Banks and Bank of Ireland.
Michael Torpey • 07:34
Financial Crises
The International Programme of Assistance
In this video, Michael provides details of the agreed Programme of Financial Assistance to Ireland, including the commitments to bank restructuring and capitalisations. He also considers the effects of the Prudential Capital Adequacy Assessment, PCAR 2011, which was required as part of the programme.
Michael Torpey • 10:31
Financial Crises
Lessons and Protections: The Wash-Up
Michael completes the series by considering the lessons of the crisis and the responses that were made as a result. He also provides his opinion on the actions of the ECB.
Michael Torpey • 04:28
Financial Crises
Financial History
Iceland: A Case Study
Iceland became one of the first victims of the 2008 Financial Crisis. In this video, January uses Iceland as a case study to examine the impacts of ambitious balance sheet growth and inadequate central bank oversight.
January Carmalt • 11:09