The Ascent of Money
Season 1 • Episode 5: Safe as Houses • Watch with subtitles
Episode 5: Safe as Houses
December 15, 2008 • 49 min
It sounded so simple: give state-owned assets to the people. After all, what better foundation for a property-owning democracy than a campaign of privatisation encompassing housing? An economic theory says that markets can't function without mortgages, because it's only by borrowing against their assets that entrepreneurs can get their businesses off the ground. But what if mortgages are bundled together and sold off to the highest bidder?
If the video doesn't play, try refreshing the page or check back later. Subtitles available in English, Spanish, French, German, Bulgarian, and many more languages.