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DATELINE TONIGHT - could be interesting

Discussion in 'The Economy' started by Jenny, 14th May, 2008.

  1. Jenny

    Jenny Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    103
    Location:
    Canberra
    SBS promo below, comments by George Negus


    ON THE TIP OF THE SUB-PRIME ICEBERG


    G'day all,

    Just how far can the vicious tentacles of the sub-prime money crisis spread? Pretty bloody far, let me tell you.

    Tonight I'm in Narvik, a Norwegian seaport town 120 kilometres above the Arctic Circle (has any other Australian current affairs program ever gone this far north?!) Thankfully, it's Spring but I've got to say, there's not much spring in the locals' step right now. Their council has just taken a massive financial hit, by investing in those risky sub-prime loans.

    Narvik council lost a whopping $41-million, a quarter of its annual budget. I leave it to you to work out what that means for maintaining essential services.

    So whose fault is it? The mayor's, the firm that recommended the investments or its parent company, Citigroup? And how the hell did a little town council in the Arctic Circle wind up embroiled in the housing crisis hitting the US?

    To have your say on the situation Narvik finds itself in, click here

    To view a photo gallery of this picturesque seaport, click here

    Also tonight, the real underbelly. Forget gangland crime in Melbourne, New York is where the mobsters really rule the roost. It's Dateline video journalist Nick Lazaredes v. the feared Gambino family.

    See below for more details, and see you tonight on the telly,

    George
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    http://feeds.feedburner.com/~r/Dateline/~3/290157593/2008-05-14_Dateline_Podcast.mp4
     
    Last edited: 17th Sep, 2016
  3. Jenny

    Jenny Well-Known Member

    Joined:
    15th Aug, 2005
    Posts:
    103
    Location:
    Canberra
    Tonight

    from dateline newsletter:-



    Greed, greed and more greed
    G'day Dateliners,

    You know the global economy is in crisis when one of the world's wealthiest men tells you he came out of virtual financial retirement because the sub-prime credit crunch was hurting his bottom line.

    That's what billionaire George Soros has to say on Dateline tonight, proving that not even an investor of immense international experience like himself is immune to the wider implications of dodgy American home loans!

    (Of course, he goes on to admit that he ended up making money out of the situation, although he says reports of an extra four billion are greatly exaggerated…)

    So how the hell did the sub-prime crisis get so out of control in the first place?

    Don't miss our first story tonight, when video journalist Mark Maley takes you to the heart of the crisis, a placed called Stockton in California, where in some suburbs 25% of all houses are in foreclosure.

    Then he asks former Wall St bankers why their colleagues allowed it to happen in the first place. The answer will sicken - and fascinate - you.

    For a sneak peek of Mark Maley's story, click here.

    See you later tonight.

    George




    Read more about sub-prime greed