The disastrous decision to repeal the Glass-Steagall Act in the late 1990s led to the spectacular failure of huge banks during the financial crisis of 2007-2008. To prevent a future catastrophe, Dodd-Frank and this Act both need to be revived right away. What happened with SVB is just the start of what will happen if nothing is done to address the current problem.

I wonder if people that experienced the 2008 crash had it easier because. my portfolio has lost over $27000 and I don't see my retirement turning out well when I can't even grow my stagnant reserve

I would call this Warren Buffet comments on the 2008 Financial Crisis, not "explains."

“They went away rich. They may have been disgraced to some degree, but they went away rich.” Truer words have never been spoken.

I used to believe that the stock market was primarily a game for the wealthy, influenced by the lessons of my grandparents who suffered significant losses in the past and emphasized this notion. However, I've been around long enough to experience firsthand how lucrative it can be. Especially in times like these, with inflation at 6.1%, one might consider the circumstances desperate. Nevertheless, I firmly believe that no market condition is insurmountable for a skilled financial advisor, especially those who have weathered the storm since the 2008 crisis and even earlier.

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

Gaining more financial independence is probably the result of knowing how to handle personal finances and invest. People are better equipped to save, spend, and invest their money when they have a solid understanding of money and investment. In this market impacted by the recession, a trader made over $350,000.

Who would have thought KZfaq had so many PhD economists in the comment section predicting the next crisis

Interesting how over 2% inflation has been a concern when central banks and the Fed begin to hike interest rates. I consider the rising interest rate to be a very serious issue since it will undoubtedly cause more investors to withdraw their money from the stock market. But then I'm still aware of certain investors that continue to earn over $365,000. Wish I could accomplish that.

Since Biden took office, there seem to have been more unfavorable results in America. I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?

First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?

0:18 - "Warren Buffet is still grappling with what happened and the lessons he learned" 2:31 - "I didn't really learn any new lessons in 2008 or 2009"

He really said a whole lot of nothing

HELLO GUYS WELCOME BACK TO ANOTHER CRISIS!

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

"if you wait till you know everything then it's too late"

They bail out big companies but my dad lost everything and we suffered for 10 years

I was in the mortgage industry then talk about a crazy time. Lots of mistakes were made and the financial sector learned very little. It will be repeated again.

I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 this nov. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve

Warren Buffet: "If I knew what the next crisis is going to be like, I'd be a rich man! Oh, hang on a minute...!"

"It is ludicrous to believe that asset bubbles can only be recognized in hindsight." -Micheal Burry

You can clearly see that this man knows exactly what is going on but it´s not in his best interest to real talk about it, he can point any fingers because ... you know.

Rule of thumb: if you’re winning at life, You wouldn’t continue winning if you said more than you’re supposed to.

2008 was due to two things: lessening of financial government oversight; and the subprime crisis. People who should never had bought homes were magically okayed. This was not unique and this battle goes on. We will always have instances where the govt. was too laissez-faire, or far too restrictive. As for subprime, virtually every category of products, from beds to cars, has always gone after the subprime buyer; in fact, most of their profits have often come from there, due to credit rates and payments.

Nobody went to jail. AMAZING

"If you Wait Till You Know Everything, It Will be Too Late" Good advice for us people who think IQ will somehow make us better investors. We need more Discipline, not more Knowledge.

"If you wait 'til you know everything - it's too late."

The "leaders" that he talked about at 3:07 are the ones responsible for the crisis. They made millions out of that crisis, and no one went to jail. This is crazy.

I choked in disbelief when she asked him “so what did you learn from 2008”

This is basically the least informative video of all time.

I think we needed Charlie Munger talk instead of WB. He is the straight shooter.

I remember watching this like every else and couldn't believe it

lol everyone acts like they know what’s going on just because you watched the Big Short

"if you wait till you know everything, it's too late." - Warren Buffett

Back then the deficit was $6T and they all said it was terrible…today it’s $32T and not a word

He seems to say a lot without saying anything.

A man in his position just don't have that luxury to talk this thing honestly! He knows who's the culprits where and he knows what's coming around the corner! We all feel it! Debt supercycle!

He actually didn't explain anything....

Amazing how the ripple effects of this crisis are still felt today

never studied finance, have nothing to do with finance. Still I'm always fascinated by all stories about financial crashes

This guy knows a whole lot more then what he says. I strongly believe it would be against his best interests if he said anything at all and He knows it. He’s more self serving then what he appears to be. Just like Wallstreet

"they went away rich" what a nice way to put it...

“If you wait till you know everything, it’s too late.” Great quote by Warren Buffett.

Everything he ever said usually correct. But the information he put out always means different things to the different group of audience. That's the danger of don't know what you don't know .

So vague it's like I didn't watch a video explaining the crisis...

No down payment on mortgages for houses lead to forclosure and banks became bankrupt

Cinderella going to the party... have been reading and listening to this intetesting man for 20 years continuously. He is amazingly right on his long term views. Hello From Tunisia

The US federal net debt grew by $1.2 T in the last 12 months. So we're still running a deficit similar in magnitude to that of 2008/9.

What caused the 2008 financial crisis? The government tried to social engineer home ownership and "lent" money to citizens who neither had the means nor the desire to pay the loans back. When you let people finance 125% of the price of a house they have no skin in the game.

As I understand it, the sup-prime mortgage crisis was set up on purpose. To apply for a housing loan, your credit score was not a variable in the equation. It was not relevant. Those individuals who brokered these purchases received a commission. Incentive was there, to forward the process at every level, as high commissions were paid out. Greed was the inner voice overriding common morality and business ethics . . . if that even exists. Once the " housing bubble " imploded, all these foreclosures and accumulated debt, were rolled up into packages, where the value of each individual debt, was combined into a total debt. This total debt, which was essentially many account numbers, representing real people, combined into large debt " Assets" became currency to be traded. The final destination of this debt was to be sold off, as an asset, to non-U.S. international markets. The end result was the " World Economy " also taking a big hit. Each individual, that facilitated the movement of these debt bundles, gained a high commission. This combined debt, based on debt owed in the U.S. housing market, came to be known as " Toxic Assets. " The whole situation was set up to profit the individuals that made commissions, the companies theses individuals worked for, banks, governments, any human control mechanism in place currently, etc. It was a reset button, purposely put into play, to control all of you. Any positive or negative feed back is welcome. Feel free . . . to disagree. . . .by the way, I feel the student loan crisis currently in the U.S. is another example of a financial human control mechanism. So was the great depression and the 1913 Federal Reserve Act. . . .The world is a stage and we are all just actors playing a role. . . . apparently the role of many of us is serf. . .that needs to change.

At the very least, I now grasp the concept of leverage. Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

Cash in a financial crisis is worth 10x more than it is today. If you have money invested and the stocks crash, don't pull it out if u can. It will recover and become positive in the future.

Warren Buffet: Public Relations Ambassador for the 1%

Banks are the culprits. If someone doesn’t qualify for the home loan - they should not give the loan.

People borrowed money for houses that they could not pay-back... they were greedy too.

Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.

Still waiting for the explanation

I was a security guard for Osram-Sylvania which a lighting company. We had armed escorts kicking out management. Didn't understand a housing crisis effected us. I was 23 then. Got to experience a lot of that crisis up close

“If u wait till u know everything it’s too late”

Es un gigante de las finanzas,podría dar business classes a todo el planeta.

I can't believe the crash was 12 years ago! As you get older decades fly by like weeks 😂

"If you wait until you know everything it's too late" What he tryna say is timing is everything,be quick to act.Buy the rumour,sell the fact.

at 4:41 yup listen to this man’s warnings

What if you bought stocks in 2008 at a low price and sold them now?

I feel privileged to witness the Buffett & Munger era in my lifetime 💎

I'd love to see a Thomas Sowell, Warren Buffett talk/debate.

Blaming him for making lemonade with the lemons given is a bit too much. Value investors don't really care about bubbles etc because in the long term the value is always going up. All he had to do was wait it out. He averages 21% ROI per year. if he saw an opportunity to profit 50% on any investment you can't really call him anything other than a great investor. Should all people thought like he does, that crisis would have been avoided. He always basicaly said:" don't buy when the market is up, it's stupid. Buy when it's low." And it's also stupid to call him on it since he has been saying that for years. I respect some people having a different opinion on it but i believe he didn't do anything wrong, anything to cause the bubble. He just profited from it, like the great investor he is.

"If you wait until you know everything, it's too late."

Does anybody know what background music is being used in this video?

Nice video, very engaging from the beginning to the end. Nevertheless putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for

You know he’s thinking during this interview, “you all have no idea... you guys are all screwed. And soon too.”

Does anyone know the music?^^

the background music makes this seem so epic lol

“Let me issue and control a nation’s money and I care not who writes the laws.” Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

I can’t believe he said all that with a straight face.

Did he "explained" anything? He's just commenting.

Many people don't know that financial crisis is like spreading fire. FED was trying really hard at that time to save innocent people from the spread of crisis. Only few people know it such as Buffet.

Buffet loved the 2008 crash. He just can’t say that on camera.

Such a vague interview. Nothing got answered here. Thanks

Charlie would have been great for this TBH

These large scale timelines of ambiguity and worming better… the connections between sectors keeps getting illustrated over and over. The evolution of learnings is bringing us to a place where we can work without tearing our systems down.

1. Several called him for an investment in their firm to save their hide, and he wasn't stupid. 2. This man's metaphors are great!

It started in 2006 within Florida, Las Vegas. The signs were there. Then it was subprime in 2007 that woke a few up. Yes, we all know about 2008 but the red light was already flashing well before that. A shame Buffett didn’t mention the printing presses in back of the room. #2019 #GirdYourLoinsEveryone

Words of wisdom as always. I want to meet him one day......

What is the music please?

"if you wait till you know everything - it's too late", said he

the next bubble is student loans

Banks learned nothing from 2008. This will come back around again, hopefully not on such a devastating scale, but the housing market is really wonky right now. Lots of selling and developing and not much buying. Will be interesting to see what’s coming.

HE WAS SO HUMBLE:)

Can you post the full thing please? No edits.

Next bubble > student loans Now when that gonna burst...

Warren, it"s a lot of fun when you have billions, but the person that is about to retire and looses his or her shirt is not amused!

The bursting ideas and thoughts in his brain simply cannot be transformed into words.

Did the lady watch the film? What did he learn from the 2008? He passed a great wisdom to the whole group of extremely smart people who were clueless of what the next steps to take! Warren Buffett was the one whose idea saved America from the second Great Depression. Untold until now, although in that whole movie he only had two or three lines...

He definitely knows a lot more about this 💯 .

If you stay invested and ignore the market's ups and downs, you'll make a lot of money in the long run; however, a severe market correction causes a lot of margin calls and sell-offs, driving the market even lower. People get greedy in this bull market and it's extremely irresistible.

I would pay to see Richard Wolf interview Warren Buffett.

"Who is responsible?" Proceeds to dodge the question

Pretty obvious that he didn't want to offend his friends from Morgan Stanley, Barclays UK XD

It was a lot of fun, it was like Cinderella going to the party...I mean, it was all going to turn to mice and pumpkins at midnight, but nobody wanted to leave until one minute to midnight. And the rush for the door couldn't be handled. Right or wrong, this explains his current position on Crypto.