50 billion euros in Greece, 70 billion euros in Ireland, 40 billion euros in Spain - one Euro-country after another is forced to support its banks with huge sums of money in order to equalize the losses incurred by money worldwide from bad loans. But where do the billions go anyway? Who are the beneficiaries? With this simple question the award-winning business journalist and nonfiction author Harald Schumann travels across Europe and gets surprising answers. The rescued are not in the poorer Euro states - unlike commonly believed - but mainly in Germany and France. A large part of the money ends up with the creditors of the banks that want to be saved or must be saved. And although these investors have obviously made bad investments, they are - against all logic of the free market economy - protected at the expense of the general public against any losses. Why? Who gets the money? Actually, simple questions, but that regard the core of European identity. Maybe the most passionate film on the banking crisis. We also recommend the second documentary about the Euro-crisis by Arpad Bondy and Harald Schumann, "The Trail of the Troika". You can watch here on our channel: Subscribe to wocomoDOCS for more documentaries in full length: Director: Arpad Bondy Script: Harald Schumann, Arpad Bondy Camera: Axel Schneppat...(read more)
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The Secret Bank Bailout documentary, which won the German TV Award in 2013, sheds light on a dark chapter in the history of the global financial crisis. Produced by ZDF, the largest public broadcaster in Germany, the film exposes the secret bailout of banks by the European Central Bank (ECB) and the Federal Reserve System (FRS). The documentary begins by tracing the roots of the crisis to the US subprime mortgage market and the bursting of the housing bubble. As Lehman Brothers filed for bankruptcy in September 2008, panic spread across the financial markets, leading to the near-collapse of the global banking system. In response, the ECB and the FRS injected massive amounts of liquidity into the banking sector through loans and asset purchases. However, the film argues that the bailout went far beyond what was publicly disclosed at the time and was carried out in secret, without any democratic oversight or accountability. The ECB and the FRS, the film suggests, acted more as a lender of last resort to the banks than as a regulator, ignoring the risks and moral hazards of such a policy. The documentary also reveals the complicity of governments and regulators in this secret bailout, highlighting the revolving door between the financial industry and public service. The film points out that many former Goldman Sachs executives, such as Mario Draghi, who later became the head of the ECB, played key roles in the bailout decision-making process. Moreover, the Secret Bank Bailout documentary presents evidence that the bailout disproportionately favored major banks and financial institutions, leading to increased concentration and power in the financial sector. Small and medium-sized banks, such as local cooperative banks, were left struggling to access credit and faced undue competition from larger banks that benefited from the bailout. The documentary raises important questions about the integrity and transparency of the global financial system and the role of central banks and governments in regulating it. It also underscores the need for alternative policies that prioritize the interests of ordinary people over those of the financial elite. In conclusion, the Secret Bank Bailout is a powerful and eye-opening documentary that exposes the inner workings of the global financial system and the role of the ECB and the FRS in bailing out the banks. It is a must-watch for anyone interested in understanding the causes and consequences of the financial crisis and the challenges of creating a fair and sustainable economic system. https://inflationprotection.org/german-tv-award-2013-winner-the-secret-bank-bailout-hd-1080p/?feed_id=94060&_unique_id=64530438e4fb3 #Inflation #Retirement #GoldIRA #Wealth #Investing #documentary #AIG #Ballyhea #BankForInternationalSettlements #Bankia #BrianHayes #Cyprus #DeutscheBank #DiarmuidOFlynn #EuroZone #Finance #FrancesOBrian #goldmansachs #GuidoFawkes #HaraldSchumann #HypoRealEstate #investigation #investigativejournalism #Ireland #JƶrgAsmussen #JuanRodriguez #LehmanBrothers #LuisdeGuindos #money #PanicosDemetriades #PaulStaines #PLAY_DOC_EN #StephenDonnelly #Tagesspiegel #UniCredit #WolfgangSchƤuble #BankFailures #documentary #AIG #Ballyhea #BankForInternationalSettlements #Bankia #BrianHayes #Cyprus #DeutscheBank #DiarmuidOFlynn #EuroZone #Finance #FrancesOBrian #goldmansachs #GuidoFawkes #HaraldSchumann #HypoRealEstate #investigation #investigativejournalism #Ireland #JƶrgAsmussen #JuanRodriguez #LehmanBrothers #LuisdeGuindos #money #PanicosDemetriades #PaulStaines #PLAY_DOC_EN #StephenDonnelly #Tagesspiegel #UniCredit #WolfgangSchƤuble
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