What Happens When Banks Go Bankrupt
From Inside Job
00:00 - 01:37
1m 37s
The Lehman Brothers bank were not able to pay their debt back to creditors so they went bankrupt.

Comments

Please sign in to write a comment.
Video Transcript

Related Clips

The employees of Enron are given little time to gather their belongings once Enron filed for bankrupcy. Mr skilling, the CEO, is later interrogated by Senator Barbara Boxer for fraud. Senator Boxer accuses Jeffery Skilling of lying to his employees about the returns on Enron stocks. As Mr. Skilling was selling Enron stock, he continued to let his employees invest their 401k in Enron stock.
Mr. Johnson from the Bank of Central Victoria talks to students about the importance of saving for key expenses and retirement. He writes out the compound interest formula to explain why they would have $727,000 in 25 years if they save 50 cents per week with the bank and the interest doubles their investment every 3 years.
The Secret Millionaires Club learns that borrowing money to grow a business can be a good thing but only if the correct amount of money is borrowed. Watch Warren Buffett’s Secret Millionaires Club on the Kid Genius channel on Xfinity. Visit SMCKIDS.COM for webisodes, comics, games, and more!
Fry experiences the effects of compound interest on his savings. He started with 93 cents in his bank account 1,000 years ago, and it has had an average 2.25% interest rate over the 1,000 years. Fry learns that he is now a billionaire.
Mr. Dawes Senior and his directors try to convince the children to deposit their tuppence in the bank when Michael says he would like to use it to feed the birds. This musical number explains banking concepts such as interest and depicts the tactics of banks.