How The Banks Never Lose
June 19, 2010
As the credit crunch continues to leave Britain
cash-strapped and high street banks report huge losses, Dispatches
investigates who is responsible for the current crisis.
Reckless lending and risky investments have been blamed for directly driving
up mortgage rates and increasing the numbers of people losing their homes.
Dispatches investigates how the bank chiefs allowed this to happen and if
lessons have been learn from the Northern Rock crisis.
Former investment banker James Max tracks down the banking bosses who have
presided over the colossal losses to see if they will be held to account.
He examines the billion pound bonus culture and lifestyle of the Cityís wide
boys and investigates how the banks are now seeking to make back the money
they lost before the credit boom hit the buffers.
Featuring the results of an exclusive survey of bank lending rates, and how
much money banks are re-claiming through them, the film also offers expert
advice on how to cope with higher interest rates and shows how customers can
take banking into their own hands.
Crash - How Long Will It Last
June 16, 2010
In the second half of this special two-part
Dispatches, economist and author Will Hutton continues the definitive
insiderís account of how Britainís economy went from boom to bust.
Hutton reveals how those who tried to warn of the impending financial
disaster were shouted down, ignored or fired. As a result, the repercussions
of the collapse of Lehman Brothers hit an unprepared and vulnerable UK, and
left the government frantically trying to prevent a banking collapse from
turning the UK into an economic wasteland.
Despite the collapse of Northern Rock a year before, the government, the
regulators and the banks had largely ignored the warning signals that more
collapses would follow. Hutton looks at the weeks that followed Lehmanís
collapse: weeks that will go down as some of the most crucial in Britainís
Nationalizing key banks, and then underwriting the banksí bad loans,
prevented meltdown, but at a terrible cost that will haunt us for years to
Dispatches reveals the mistakes that lead to the current crisis and
what will it take to lift the UK out of the biggest recession in