Video of the Week: The Crash
Today, exactly 10 years ago a 157 year old institution, Lehman Brothers, went bankrupt. The reasons behind the Lehman fiasco are well known but this DW documentary focuses it’s lens on the ripple effects that the unbridled enthusiasm & greed of a few people on Wall Street had on 10,000+ Singaporean small investors.
This documentary is an important reminder that optimism is good but unchecked optimism is a sure-shot recipe for disaster.
There is a historic irony with the 15th September as in 1940 a severely handicapped British RAF turned the tide in the Battle for Britain halting Hitler's plan for European domination. On that momentous occasion, British Prime Minister, Winston Churchill had famously said, “Never in the field of human conflict was so much owed by so many to so few”
Unfortunately Winston Churchill could not have imagined that just over half-a-century later so few would owe so much to so many.