The 2008 Financial Crisis

The 2008 Financial Crisis

In this video, Richard explains the circumstances leading up to the infamous 2008 Financial Crisis. He provides a systemic overview of the crisis by focussing on the timeline of events and the financial ecosystem.
Overview

The financial crisis was a globally connected episode where confidence in and between banks evaporated, leading to a sharp and prolonged impact on public and private-sector balance sheets. The connectivity and interdependency between banks made the crisis escalate rapidly, leading to severe outcomes. Global growth went into reverse and no area of the world was spared. The eye of the storm was the collapse of Lehman Brothers and related events, but the seeds were sown many years before.

Key learning objectives:

  • Define the 2008 Global Financial Crisis

  • Define the Keynesian market economy

  • Define the pre-crisis ecosystem

  • What were the factors in the ecosystem that led to the crisis?

  • How did the interaction of agents and factors sow the seeds of doom and lead to the crisis?

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Summary
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Expert
Richard Boardman

Richard Boardman

Since joining the City as an underwriter, Richard has been fascinated by the connectivity and roles played by various parts of the Square Mile. He spent many years in asset management before moving into banking in various derivatives and solutions roles. Recently, Richard took a year out and worked with Finance Unlocked to spark further fascination and interest in finance.

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