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This documentary brings some context to the current financial turmoil. Also on Google Video: The Commanding Heights Part One: The Battle of Ideas: http://vide

by cubix 18y ago

This documentary brings some context to the current financial turmoil. Also on Google Video: The Commanding Heights Part One: The Battle of Ideas: http://video.google.com/videoplay?docid=-1466397368167658753&ei=zVvkSIv5GoT0-gH53fkC http://video.google.com/videoplay?docid=-1466397368167658753... Commanding Heights Part Two: The Agony of Reform: http://video.google.com/videoplay?docid=-3122039563423208507&ei=JlzkSPv0AoXE-wH5tbwC http://video.google.com/videoplay?docid=-3122039563423208507... Commanding Heights Part Three: The New Rules of the Game: http://video.google.com/videoplay?docid=112129377629231653&ei=-0bkSKXvEYvw-QHQyNkC http://video.google.com/videoplay?docid=112129377629231653&#...

ra 18y ago
Oohh... This is one of my favourite documentary series of all time. Compulsive viewing. I'm not sure how it exposes anything about the current situation, but it sure underlines what the free-market economy means, how it came about and why it's so important for our lives. One of the underlying messages in the series is that Free markets and Free democracy are intrinsically linked. I'd be really interested to see a 2008 update on this. One that takes into account the new China and Putin's Russia. While China is touched upon in the series - I feel that the author would have many more insights on the impact of China on the rest of the world, today. And Putin's Russia - well here's another piece of fascinating history in the making. One of my favourite sub-plots in the series is the Thatcher story, and the economic reasoning behind the removal of government subsidy for industry. While I was too young to understand it at the time, surely this was one of the greatest feats of leadership in a long time. For something lighthearted and more related to today, see either of the following: The subprime primer: http://docs.google.com/TeamPresent?revision=_latest&fs=true&docID=ddv7hj34_03774hsc7&skipauth=true http://docs.google.com/TeamPresent?revision=_latest&fs=t... And from the BBC comedy department, 'Bird and Fortune' http://nz.youtube.com/watch?v=mzJmTCYmo9g http://nz.youtube.com/watch?v=mzJmTCYmo9g
- cubix 18y ago
  It's not specifically about the current situation, but as I said, it sets the broader context. Also, it does bring up the issue of bailout occaisionally, e.g. they mention that LTCB was nearly nationalized to avoid a wider collapse, but ultimately rescued by private interests.
- pragmatic 18y ago
  Uhh, the documentary covers the the blow up of Russian bonds. If I remember correctly some economist says something like "first markets thought risk didn't exists, then they thought risk existed everywhere." That's the shortest most accurate description of most financial crises. That's exactly what we're facing. Frank Raines told us these (sub-prime) loans were risk free. Now they are threatening the global financial system. It's all about risk. See anything by Taleb: http://www.fooledbyrandomness.com/ http://www.fooledbyrandomness.com/

by cubix 18y ago

ra 18y ago

Oohh... This is one of my favourite documentary series of all time. Compulsive viewing. I'm not sure how it exposes anything about the current situation, but it sure underlines what the free-market economy means, how it came about and why it's so important for our lives. One of the underlying messages in the series is that Free markets and Free democracy are intrinsically linked. I'd be really interested to see a 2008 update on this. One that takes into account the new China and Putin's Russia. While China is touched upon in the series - I feel that the author would have many more insights on the impact of China on the rest of the world, today. And Putin's Russia - well here's another piece of fascinating history in the making. One of my favourite sub-plots in the series is the Thatcher story, and the economic reasoning behind the removal of government subsidy for industry. While I was too young to understand it at the time, surely this was one of the greatest feats of leadership in a long time. For something lighthearted and more related to today, see either of the following: The subprime primer: http://docs.google.com/TeamPresent?revision=_latest&fs=true&docID=ddv7hj34_03774hsc7&skipauth=true http://docs.google.com/TeamPresent?revision=_latest&fs=t... And from the BBC comedy department, 'Bird and Fortune' http://nz.youtube.com/watch?v=mzJmTCYmo9g http://nz.youtube.com/watch?v=mzJmTCYmo9g

cubix 18y ago
It's not specifically about the current situation, but as I said, it sets the broader context. Also, it does bring up the issue of bailout occaisionally, e.g. they mention that LTCB was nearly nationalized to avoid a wider collapse, but ultimately rescued by private interests.
pragmatic 18y ago
Uhh, the documentary covers the the blow up of Russian bonds. If I remember correctly some economist says something like "first markets thought risk didn't exists, then they thought risk existed everywhere." That's the shortest most accurate description of most financial crises. That's exactly what we're facing. Frank Raines told us these (sub-prime) loans were risk free. Now they are threatening the global financial system. It's all about risk. See anything by Taleb: http://www.fooledbyrandomness.com/ http://www.fooledbyrandomness.com/