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The banking crisis: cause and effect: Track 1

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Autumn 2008 witnessed a global financial crisis with governments worldwide taking emergency action to prevent a collapse of the banking system. The aftermath of the worst financial crisis since the 1930s saw economic activity slump. In the UK, higher unemployment, falling house prices and a sharp increase in government debt proved to be the alarming legacy of the near implosion of the banking system. This fascinating insight into the downfall of the global financial markets gives us a clear understanding of where it all went wrong. This material forms part of The Open University course DB234 Personal investment in an uncertain world

By: The OpenLearn team (The Open University,)

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Track 1: The banking crisis: cause and effect

A short introduction to this album.

© The Open University 2010

Tracks in this podcast:

Track   Title Description
1 The banking crisis: cause and effect    A short introduction to this album. Play now The banking crisis: cause and effect
2 The collapse    Banks were once the corner stone of modern British society, but by September 2005 banks stopped lending to each other overnight. What happened? What caused this credit crisis? Play now The collapse
3 Casino Banking    As banks were pressured to increase returns, the age of casino banking was born. Along with it came ever more complex forms of securitised debt. Play now Casino Banking
4 More lending, more spending    By the end of 2004 people were offered more money and a larger choice in financial products. Ken Jones explains how cheap credit helped his business go from strength to strength. Play now More lending, more spending
5 Rating Agencies: too lenient?    Were the rating agencies too lenient? Should these private companies have seen the crisis coming? Play now Rating Agencies: too lenient?
6 The first domino: Northern Rock    In early 2007 Northern Rock were the first of the UK retail banks to seek emergency funding from the Bank of England. Play now The first domino: Northern Rock
7 Nationalising the banks    Twelve months after the fall of Northern Rock the UK Government intervene with fresh capital for an otherwise failed banking system. Never the less the country plunged head on into a recession. Play now Nationalising the banks
8 The future of banking    What does the future hold for the retail banking system? Will we be forced to revert back to more a traditional, low profit approach to lending? Play now The future of banking
9 The banking collapse in context    The Open University’s Martin Upton, Jonquil Lowe and Alan Shipman look back and reflect on the global effects of the banking crisis of 2008-09. Play now The banking collapse in context




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