After the Crash: Authority and Trust

The Compass

In 2008 the world financial system had a heart attack. Gripped by panic, banks stopped lending, cash ran out and the world came to the edge of a financial precipice. As millions of people lost their jobs and as the shock that started in Wall Street reverberated around the world, the crisis led to a collapse of the Greek, Spanish, Icelandic and other economies.

Professor Ian Goldin looks at the origins of the crash and he examines how it affected our trust in authorities and experts. He travels to New York to talk to some of the world’s leading academics including Joseph Stiglitz, Jeffrey Sachs and Adam Tooze and he hears from a former Lehman Brothers employee about the final days of the troubled business whose collapse led to the financial crisis.

Presenter: Ian Goldin Producer: Ben Carter

(Photo: Two employees of Christie's auction house manoeuvre the Lehman Brothers corporate logo in London Credit: Oli Scarff/Getty Images)