Doomed To Repeat

A Collection of Ephemera from the 2008 Financial Crisis

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The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare

Meet Alayne Fleischmann, the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking.

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"The program has managed a rare trick of being perpetually maligned on Wall Street while driving asset prices up enough to make lots of people on Wall Street very wealthy."

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Whether he's being ripped for every single one of his economic-policy plans or suffering the indignity of being asked by Charlie Rose about his wrinkles, every day this year he has woken up and found himself in a fresh version of hell.

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The problem wasn't that Lehman Brothers had been allowed to fail. The problem was that Lehman Brothers had been allowed to succeed.

Michael Lewis, The Big Short: Inside the Doomsday Machine

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Toxie | This American Life

In January 2010, reporters from Planet Money bought a toxic asset—you know, the things that blew up wall street banks, sank the economy and brought the global financial system to a halt—one of those. And "Toxie" turned out to be an encyclopedia of the financial crisis.

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Don't Laugh Off Hank Greenberg's Ridiculous AIG Lawsuit

It could be our best chance to learn what really happened during the financial crisis.

It revealed Edward Quince to the world, for example.

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John Mack: "Of Course I Told Tim Geithner To Go F*ck Himself"

Around 3 minutes, 50 seconds in he addresses Andrew Ross Sorkin's Too Big to Fail.

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Oh, Lloyd, Lloyd, Lloyd.  No. Just no.

...well, wait a sec. You mean like this guy? OK maybe.

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The men who crashed the world

The first of a four-part investigation into a world of greed and recklessness that led to financial collapse. In the first episode of Meltdown, we hear about...

Al Jazeera presents the facts, plus scary music and sound effects.

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Financial Market Regulation and Practices, Panel 2

Financial Market Regulation and Practices, Panel 2 - House Oversight Committee - 2008-10-06 - Product 281618-2-DVD - House Committee on Government Reform and...

Basically if you feel like watching two hours of CSPAN where Dick Fuld testifies and it's very uncomfortable for everybody, you and I were probably separated at birth.

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WHERE ARE THEY NOW?: 'The Big Short' Edition

They saw it coming. Where'd they end up?

...You mean other than "still wealthy"?

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You look at the financial crisis in Europe and the fingerprints of American investment bankers are everywhere. The financial collapse encouraged the worst sort of behavior.

Michael Lewis on the financial crisis in Europe. (via nprfreshair)

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G-d love him. 

...mainly because if G-d doesn't, then no one will.

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"If we are really serious about preventing another crisis like the 2008 meltdown," Chang writes, "we should simply ban complex financial instruments, unless they can be unambiguously shown to benefit society in the long run." He is aware that he risks sounding extreme, but argues that the ban he proposes is no different from those that have been enforced on other dangerous products. “This is what we do all the time with other products – drugs, cars, electrical products and many others.”

John Gray, The Observer (http://www.theguardian.com/books/2010/aug/29/ha-joon-chang-23-things)

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Understanding why Lehman was allowed to die goes beyond apportioning responsibility for the financial crisis and the recession that cost millions of ordinary Americans jobs and savings. Today, long after the bailouts, the debate rages over the Fed’s authority to bail out failing firms. Some Fed officials worry that when the next financial crisis comes, the Fed will have less power to shield the financial system from the failure of a single large bank. After the Lehman debacle, Congress curbed the Fed’s ability to rescue a bank in trouble.

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ROBERT SHILLER: The Stock Market Is At A Pre-Crash Level, 'But...'

Robert Shiller makes a point about the last three stock market crashes.

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Workers assemble in the Lehman Brothers Canary Wharf, London office, September 11, 2008. (Kevin Coombs/Reuters)