Lets cut the work Lets Talk Work be aggressive just guys work with your heart and i need you guys i need your balls i need your prayers i need your vision so i did that by. The german luxembourg t. V. Series bad banks takes viewers deep into the world of Investment Banking the fiercely competitive world right with power games intrigues and the trails with a screenplay written by all about keane let the show features plenty of Industry Cliches but as Investment Bankers arent 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 put fuckin himself a former Investment Banker his first hand experience of the financial crisis served
as the basis for bad banks so is the show true to life is Global Finance really that cutthroat. And thats what we focus on in the show is of course the extreme the most dramatic aspects of this world as we show some of its excesses excessive gives on the way i see we collected experiences and distilled them for the series so obviously its a dramatic version of the actual day to day business with. Avoiding the cliches was a challenge whenever i find myself confronted with a cliche as a viewer to i have to question it. No theres usually some truth to it. Such as the one about International Finance being a mans were. World although its harder for women to get on in this world that was my impression and the knife in and t. S. Next ashton site of what i forgot. To enforce is quick. And national and have fun. As a. Female. Minister the schemes man seventy and also. As well that are. There for many many of those photos its a very male dominated sector. Of the women what you need to find your own way of keeping up with male colleagues or competing with them and with the men on. The cast is led by a german actress polar bear who plays yana leka 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 you can be what if i did. Six. That. 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 loss. 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. If 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 unpack 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 per 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 under correspondent bigot mask went to meet him to talk about responsibility risk and remorse. Put twelve years he was one of them then he turned against his former colleagues and published a book on greed in the city of london. Gerund and isnt a fully 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
places 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 heroin and is that what here in this environment. Was pretty cocky pretty arrogant i was a gambler by nature risk taking over confident 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 financial part of that was doomed to fail because Interest Rates dont stay low for a Property Prices dont go up forever but they didnt because in the ten years while they fry these products they made millions in bonuses but. How was the atmosphere in the city why did you sense that something was going to happen and ive been kind of calling a financial crisis pretty much every two or three years since i joined the sea. She in One Thousand Nine Hundred Six i say ok this is it this is the big one guys and and we all felt that and that was actually one of the problems because when you feel like the whole house a cold is going to fall down the incentive then is to make as much money by whatever means possible. That year and youre thinking only of that year before you know the bank wont even exist two years time hell very critical of your fall myself but isnt that actually
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 or come i think were also going to do in my life is going to be even bigger next year ill stay so i got trapped so did you sell your soul to the devil and i did sell my soul to the devil but i go very good crush. Yeah i did i saw 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 we should be. And that casino the Financial Markets where sesa lights trillions were burned and many countries scramble to save their failing banks to prevent a total collapse some you. 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 how did i and only iceland
rise so many regular sleep from the ashes i went there to find out. Just a decade ago few people knew anything about this island in the far north but not anymore. While preparing for this trip i discovered that almost every second person i talked to had been to iceland before. The island only has Three Hundred Fifty Thousand inhabitants. Today. And Two Thousand And Eight we have a crisis and i remember it so well it happened and. People were really they were devastated they want to live but. We have no idea what will happen in the future i think. Opportunity for. Jobs i know a lot of people that have been. In the. News today especially my friends i mean. The nature here is stunning of course but initially the boom was also fueled by another factor Police Credit the worth of the crisis in the south meant that exports but all 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 stink of more leafs on exports he gives me a tour of his factory outside reykjavik. In the small of
a prison down there lies. All about fish who are all. Companies over in the seafood going through iceland on our company to produce a really good time and you are increasing your income may be off to one of the. There is no Question Reykjavik is booming everywhere look theres 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 financial crisis and now its going to be a huge Hotel Complex really nice for the tourists. And this corner was home to another talk bank iceland did things differently than other countries in crisis and
let its banks go bankrupt or nationalized them all says christians out there worked at the biggest Icelandic Bank cult 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 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. 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 downsides. Issues
becoming expensive to tour because the Fishing Trips become smooth twenty years. 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 holds tech helps bring starts 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 that 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. See each other and of course you have a lot of people sitting to. Each other and. I think. Transactional sort of relationship more Community Based relationship Krishna Shandra and used to work for the Bank Of Scotland and 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 a. Bank. Its manager. Says its a mutually beneficial arrangement of course those are the sort of synergies that can form in the heart. The biggest advantage is definitely the proximity and 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 the man side had. Done with him on our side. Once a month as the socalled luxury lunch to encourage networking lots are drawn to decide who eats with whom 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 danish lover meets employees of a firm that enables you to switch Bank Accounts online and the company that
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 the uk 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 the big 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 start up entrepreneurs the whole tech world actually has given up on it it seems that jeans and t. Shirts have become a code for modesty and morals that was 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 bad. To 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 and it is billion other things. For there 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 when you think if respect is something that you need to show every day. And thats it from us for today it was something just
check out. Our Facebook Page and you can always get in touch with us on twitter thank you very much for watching look forward to see you next time on. The be the best. The be. The be the be. The best. The be the be. The be. The been. The be. The be. The be. The be. China in south africa. Once the banner of the cross. The conflict some contradictions may carry the big strain most social climbers. Trying to crack. The body is reconciliation fail. The be. Fifteen. D. W. Of the fast pace of life in the Digital World such shift as the lowdown on the web it shows up new developments useful information and anything else worth noting. Presents the latest finds. Just looks over the shoulders of makers and users. Should in forty five minutes to. Me. Being fun be told him and. His work and the goddess fortuna. The monstre and features. Beethoven finished bond twenty team a. Tough reconciliation unit most women a year after its liberation from islamic states. How come victims and perpetrators are together today after. The i. R. S. Family shouldnt be allowed to come back because let it happen. Mostly. C. N. N. Today on deja vu names. Was