Broadcast, fittingly, on 1 April 2008 just as the bubble was bursting, this BBC 2 documentary, produced and directed by John O’Kane and narrated by Robert Peston, is a reminder that the modern “wealth creator” is rarely the inventor of some new product that makes our lives better but is rather an expert at manipulating the money game, in which creation of notional riches becomes the end rather than a mere byproduct of their efforts.
And at the center of the debacle were the central banksters, acting to ensure that confidence in currency, the prerequisite for green game players, was bolstered, despite all the screeching alarm bells.
And note that facilitating it all were the so-called “liberal” political parties, with Britain’s Labour Party and the Democrats in the U.S. greased the skids in the 1990s by deregulating financial markets and paving the way to an explosion of hedge fund wealth.
What is particularly galling is the rampant and unalloyed arrogance of the players to whom the rest of us, as one of them offhandedly remarks, are mere riffraff.
From BBC 2 via Underground Documentaries:
Super Rich: The Greed Game
As the credit crunch bites and a global economic crisis threatens, Robert Peston reveals how the super-rich have made their fortunes, and the rest of us are picking up the bill.