Documentary The Money Trap How Banks Control the World Through Debt

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A senior executive blows the whistle on the banking industry’s usurious lending tactics. This documentary reviews some of the profligate and predatory lending practices of the high street banks in the years of the credit boom which preceded the financial crisis. Indeed this documentary is in a sense chilling given what happened during the global financial crisis; i.e. super easy credit, high pressure to make money, huge incentives for banks to lend easy money. The documentary reviews the sales and marketing tactics, how banks benefited from the lending splurge, and some of the fallout e.g. debt related suicides. This documentary should serve as a case study in banking regulation; not just in terms of procedural regulations but also in terms of higher level macroprudential regulation to curtail excessive credit growth, particularly during unsustainable credit booms.



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