http://www.youtube.com/watch?v=SZGNFmugLS4
"In the second half of 1997, Indonesia became the country hardest hit by the Asian economic crisis."
"Shots rang out. Four Indonesian students were killed."
"On the 13 and 14 May rioting across Jakarta destroyed many commercial centres in Jakarta and over 1,000 died."
"Suharto reads his address of resignation"
"Bill Clinton: I should have better regulated derivatives"
"In 2009, the derivatives market stood at $615 trillion, several times the global GDP of $74 trillion."
"AIG was on one side of these trades only: They sold credit-default swaps. They never bought. Once bonds started defaulting, they had to pay out and nobody was paying them."
"Credit-default swaps for Italy and Spain are surging"
"43% of Spain's youth, overall, are unemployed; higher than both Egypt and Tunisia"
"Austerity Might Not Work for Spain and Italy"
"For the international banking system, potential losses for French, German and US banks (+insurers) could easily lead to a new liquidity crisis in the interbank market, aka a new Lehman."
"Frank-Dodd never systematically address "too-big-to-fail". In fact, American investment banks are now even more consolidated then they were that fateful day Lehman Brothers fell."
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