Looking back five years later, there are plenty of cringe-worthy moments from the precipice of the financial crisis.
Ben Bernanke’s famous 2005 call that housing prices could not possibly fall nationwide comes to mind.
“Money For Nothing: Inside the Federal Reserve,” a new documentary looking back on 100 years of monetary policy, is particularly good at plucking out these unforgettable pieces of history.
Perhaps the most awkward one from the film is this Countrywide advertisement from 2006. Of course, two years later Bank of America would purchase the failing Countrywide for $US4.1 billion. But for now, let the good times roll!
If you want to see everything wrong with subprime loans in one 30-second clip, this is it. Watch the clip:
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