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Prisoners of Debt (80s financial crisis)

in Bank, Bank of Canada, Debts, Video

For those of you who believe that all of the financial crisis of today are something new, I’d like to remind you that we are reliving history in some ways (over, and over, and over again).

The NFB has another very interesting feature film about another Debt Crisis, but this one happens in the 80’s.

This feature documentary reveals how Bank of Montreal chairman William Mulholland dealt with his debt-laden customers Dome Petroleum and Mexico during the global debt crisis of ’82. Interviews with bankers and financial experts demystify the causes of debt crisis, confirm the fragility of the international banking system and outline the problems to be solved if the system is to survive.

This is over 38 years ago, but a global debt crisis, how could that happen again? Hmmm….

Prisoners of Debt: Inside the Global Banking Crisis, Peter Raymont & Robert Collison, provided by the National Film Board of Canada

{ 1 comment }

  • Bret @ Hope to Prosper May 14, 2011, 12:51 PM

    Intersting video clip Cajunman. This also happened in the ’90s, with the Resolution Trust fiasco. It will definitely happen again. The bankers are arrogant and paid no penalty for their folly, which will just encourage more risk taking in the future. Also, there hasn’t been any meaningful reform that will protect the banking system, or consumers.

    Reply

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