Thats the work thats stock work be aggressive. And i need you guys i need your balls i need i need your vision so i do that by. The german luxembourg t. V. Series bad banks takes viewers deep into the world of Investment Banking a fiercely competitive world ripe with power games intrigues and betrayals with a screenplay written by all of a keen let the show features plenty of Industry Cliches but keenly as Investment Bankers are Number Crunchers in striped shirts theyre young good looking and driven. Didnt write a show about banking but about addiction. He researched his screenplay by talking to both alexis put fuckin himself a former Investment Banker his first hand experience of the financial crisis served
and have fun. As. I feel. The schemes demand seventy and muscle. As legitimate. Business was there for many of them and yet this firdos its a very male dominated sector. Neeman what you need to find your own way of keeping up with male colleagues or competing with them with them in the. Cast is led by a german actress polar bear who plays yon a leaker a brilliant young Woman Working her way up the Career Ladder shes unwittingly drawn into a web of intrigue before too long shes putting ambition before ethics. She talks. And i can. Do nothing except will be what if after. Six. Refers to stop on your show nominate. Michael. Jackson on tape and i can see him i like to reel. In fear but that is as true. In all of a screenplay the next financial crisis could be just around the corner. In the banking. Banking sector is full of people predicting the doomsday scenarios the next in this business you learn to be very confident and they want to put forward a clear standpoint to state your mind. In the beginning you meet people and think oh right were on the brink of a new crisis if they were two weeks later you meet the same people and they suddenly have a completely different take on whats happening which they just as confident about
banks failed and the Global Financial system looked at risk of collapsing. Governments came to the rescue of banks propping them up with taxpayer money. Could such a thing happen again or have lessons been learned. In the European Union stricter rules were put in place under the supervision of the European Central bank. They require banks to manage risks better than before and ensure they have sufficient liquidity to stay afloat. Fent crucially to boost their Capital Reserves for. To see why this is so important take a look at this very simplified example of a banks Balance Sheet on one side is the money the institution has lent if all
goes to plan the bank gets that money back plus interest. These loans have to be backed up by sufficient capital this could comprise deposits such as personal Savings Accounts or bonds but technically neither belong to the bank after all customers can withdraw their cash anytime they want and when bonds depreciate in value banks write that off. The banks own capital on the other hand includes things like profits its previously made so what happens during a financial crisis if companies dont pay back their loans the bank loses capital it eats the last. If the bank has enough Capital Reserves to remain stable by the way before the financial crisis the Reserve Ratio of european banks
was only about one point five percent the European Central banks new rules would increase that figure to up to fifteen percent but some critics say it should be twice that. A lot of Companies Default on their loans the bank stands to make huge losses the bank no longer has enough capital meaning its customers and Business Partners money cannot be secured and the bank risks going bust. The bigger the bank the bigger the impact its failure has on the whole Financial System with banks in the habit of lending each other money one failure could trigger a Chain Reaction which is what happens when a decade ago. So what can we conclude governments would likely lend big banks a helping hand again if a new financial crisis pushed them to the brink and that would lead taxpayers to pick up the tab. Hope it
wont be necessary again Geraint Anderson made headlines as city boy during the financial crisis thats the title of his bestselling book a no holds barred insiders account of life in the city londons Banking District Reporting on Reckless Trading six Figure Bonuses and cocaine fuelled orgies he left the business in Two Thousand And Eight just when the financial crisis hit all of the correspondence bigot mask went to meet him to talk about responsibility risk and remorse. Foots twelve years he was one of them then he turned against his former colleagues and published a book on green in the city of london. Garrett anderson a full utilities analyst with some of europes biggest banks in this place was populated by gamblers who took big risks who were thinking short and who didnt really care about the consequences their actions. This is one of the many
bases i see come back in the day we have three four hour lunches and maybe theres a bunch of strip joints of about five hundred yards that way Cocaine Dealer was just over there. It was all very good back in the good old days. But how would you describe your former self the caring and isnt that what here in this environment. Is pretty cocky pretty arrogant i was a gambler by nature risk taker overconfident so i was basically a pretty perfect personality for a stock broker and in fact my attitude. As i was then helps explain why the financial crisis happened. The people who invented the Financial Products that exploded sent the Global Economy into a tailspin knew they were creating
a little bit late now i had guilt pangs all the time about the industry i was working in from year one to when i finally left after twelve years every year i said this in my last year im just going to do it for one year and every year that bonus would come i think were also going to do in my life is going to be even bigger next year will stay so i got trapped so did you sell your soul to the devil and i did sell my soul to the devil so i go very good price. Yeah i did i sell myself the devil i would do anything to get that bonus safe in the knowledge that if my actions then later proved to create profits that were not real it didnt matter it was too late i had the money good boy its mine if somebody was soft because of your actions. I would say that were all worse off because of the actions of this place of which i was a member i mean weve all been living in austerity here all real wages. So havent
even changed for about ten years in the u. K. And so on that basis the casino i was working in and paid up member of help to make sure most people in this countrys laws probably slightly less well off than they should be. And that casino the Financial Markets where satellites trillions were burned and many countries scramble to safe that failing banks to prevent a total collapse some of the. Unfolded themselves and one of them was the tiny Island Nation of iceland relative to the size of its economy icelands Banking Collapse was the largest experienced by any country in economic history but just ten years on its economy is among the best performers in europe how is that possible and what can other countries learn from iceland. Ten years ago crowds like these would have been unimaginable this country was almost bankrupt so
i know a lot of people that have been. Specially my friends to me. The nature here is stunning of course but initially the boom was also fueled by another factor. Credit for worthless off the prices. That exports cheap and it was also cheaper for Foreign Tourists to come to iceland. In the case of iceland exports means fish a lot of fish i thought the crisis was a catastrophe for everyone here but it wasnt for exporters and there are many of them in iceland. Suddenly made icelandic products much more affordable for foreigners. Like the. Fish that sting or malicious on exports he gives me a tour of his factory outside reykjavik. But all got in the small of
a person on their lies. All about First Quarter for. Company sold in the Seafood Industry was long gone our company to produce really good time and we were increasing your income may be off the one month of april so. There is no Question Reykjavik is booming everywhere look this Construction Banks are being torn down and new infrastructure is going up it was exactly here that ten years ago one of the biggest banks in iceland wanted to put its headquarters right next to the harbor beautifully situated but didnt happen because of the financial crisis and now its going to be a huge little complex really nice for the tourists. And this corner was home to another top bank iceland did things differently than other countries in crisis it
let its banks go bankrupt all nationalized them also. Worked at the biggest Icelandic Bank called thing when the crisis struck. Ok so this has been called the wall street devised at least it was called before the crisis. And a couple of blocks away is where helping was today its called audio market now she works for a federation of icelandic businesses suddenly the ninety percent of our Banking System collapsed and it happened in only a couple of days we were able to build up the Banking System from from the ground and today we have a very strong Banking System i think nobody could have imagined how how how the recovery with b. And actually looking at these numbers its unbelievable how fast the recovery has been. But the countrys Miraculous Recovery also has some downside. Issues
becoming expensive for too because the fishing trips a constant twenty year. Thats one of the reasons Tourist Numbers are starting to plateau just as hotels are being built everywhere exporters are also being hit by high costs. But despite the speed bumps icelands recovery remains miraculous i think no other country could have done it a special Little Island and. Of course surprise to. So cause tech helps bring startups from the same sector together under one roof that does not only mean they can share a cafeteria and jim the Main Objective is for them to collaborate in order to become Major Players to become more than just the sum of the parts sounds like a good idea but doesnt work our reporter checked out a big new fin tech hub here in berlin. Financial Technology Startups that inspire
one another and end up becoming Major Players all housed under one roof thats the idea of this hub in. The one place for a lot of like minded people come together and its much easier for everybody to share their. Other and of course you have a lot of people sitting to. Each other and. I think. Ship more Community Based relationship. And used to work for the Bank Of Scotland now he works for a digital bank with a banking license a number of Fin Tech Firms here in the harbor his clients today hes on his way to see a new Business Partner. The company is just forty eight steps away its
a new digital Debt Collection company that recently began working for responding. Its manager denish lover says its a mutually beneficial arrangement of course he could those are the sort of synergies that can form in the hub. Echoes of what is the biggest advantage is definitely the proximity you can skip down the stairs and meet a Business Partner for a coffee that makes things very easy we are very busy days but can use those five minutes to swap notes. Done with him. Once a month as the socalled luxury lunch to encourage networking lots are drawn to decide who eats with whom then he likes to take part its a good way of getting to know new people he only started work here six months ago as well as organizing the event the Hub Operators also pick up the tab. This time denish lover meets employees of a firm that enables you to switch Bank Accounts online and the company that
develops Financial Planning software. As a center. This is a very fast moving sector of the whole Start Up Business because many people change their jobs within their companies very quickly but also more universally and its very interesting to see where people move to and you meet them again in different positions or and so it makes sense to keep in touch with within this framework provide a lot of focus in this normally every one of these believe busy with their own things so its not have not easy to have that much activity is to meet everyone to get to charleston no different projects come unless youre constantly learning something new in this innovative market. Krishna shandra and believes the hub concept has many benefits even competitors what notes but there are unspoken rules. As long as these competence dont try to head over employers. The hub opened a year ago and now some one thousand people. Work here all eight floors are almost completely occupied but will Global Leaders necessarily follow. As most of them and we need more courage if were going to catch up here in germany we need to be more ambitious but most of all we need more capital. Several Million Euros were invested in the hub and its already turning a profit but it hasnt yet made headlines with a big shift in tech idea. The financial crisis of Two Thousand And Eight had another side effect the bankers uniform the suit and tie combination has fallen into disrepute thats why Startup Entrepreneurs the whole tech world actually has given up on it it seems that jeans and t. Shirts have become a cold for modesty and morals but as our following example shows dropping the
classic business dress code is not a guarantee that bad things wont. Far too many young men these days by their first suit far too late and even more regrettable is the fact that the reason they dont a suit for the first time is the worst reason imaginable. The reason why those young men buy their first suit is their appearance in Legal Proceedings of some sort. Theyre wearing a suit because theyve done something that. I think give you a recent example this young man lets call him mark. Got into whole water because he sold some product to some very unsavory people young men and up in court for this kind of thing every day usually the product in
question is a psychoactive substances some source. But in this case the product happens to be the private lives of you me and again till youre not at the. Force it was an outcry and poor mark ended up in front of an angry mob of u. S. Senators. And mark did what all juvenile delinquents do he put on a suit as a disguise he faked respect what about showing some real respect before things go downhill respect for your company your colleagues your customers your Business Partners because thats why you wear a suit to show some respect. For heres your lesson dont just put on a suit winning think it sounds respect is something that you need to show every day. And thats it from us for today it got something to
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come in Dauphin Island alabama. Oh my goodness. Yes. I live maybe fractures if you click on me feeling like it was from the head of the area which may be a part of it find us on facebook and on t w dot com. So sarno just couldnt get this song out of his head. The Music College just began searching for the source of these captivating sounds. And the deep in the rain forest in central africa. The by a couple. That any seen nothing else. And would like to believe this was a book. Why anyone. Money legal costs he was so fascinated by their culture that he stayed. Only