HCTV is proud to present a premiere National Geometric...

HCTV is proud to present a premiere National Geometric special... Seconds from Disaster

Disasters don't just happen. They're triggered by a chain of critical events! Unravel the clues, and count down those final Seconds to Disaster!

2000...Mortgage lenders in the US, seeking greater profits, relax lending restrictions, and grant loans to individuals with poor credit ratings. The first mortgage backed CDO is developed.
In Australia, it was a typical Sunday in the Hotfire household. The kids were outside playing with dads collection of antique leafblowers, everything was great! Little did they know, they were only 252,455,408 Seconds from Disaster!

2004...Subprime mortgages have increased by 292%, US house ownership rate peaks at 69.2%. And a mild mannered trader Jimmy1000, was relaxing with his wife and feline friend......happy with the direction of the market. They were blissfully unaware that they were only 94,670,777.9 Seconds from Disaster!

2005-2006....Several employees of Lehman Brothers want them to pull out of the mortgage market, and are fired. The US housing market peaks, and financial services firms start to worry about their positions. Some firms use creative accounting to continue their bonuses and remain solvent.

Nov 5, 2007 XJO Flight 7000 was preparing for its flight to prosperity. Captain Dick America was in control, and expecting an uneventful flight. He had no idea he was only 31,556,926 Seconds from Disaster!

"Good morning everyone, I'm Captain America and along with my co-pilot Wally Lehman, and flight engineer, Freddie Mac, we'll be your crew for the flight to prosperity. Our Head Flight Attendant Fannie May, will attend to any of your needs. Sit back and relax, flight time today will be 2 or 3 years."
Passenger 57 is a bathroom attendant, and part time stock trader, Disco Stu. In his bags are his latest purchases.....Allco Finance and MFS.

May 16, 2008..."This is your captain speaking. We have experienced some turbulence, but it appears we have left that behind, and it is plain sailing from here."
Fannie May and her attendants serve the passengers their meals. "Good evening sir, would you like the beef, chicken or mortgage backed security?"
September 2008...
Lehman...Dick, I'm feeling unwell, not sure I can carry on!
America...Hang on Lehman damn you.....oh no he's gone.....And my Bear Stearns indicator's not working. Freddie, what are you seeing?......Freddie?...Freddie?... Oh god, Fannie are you there?

Fannie didn't answer.....Economy class started to panic, Disco Stu among them. Portfolio masks dropped from compartments above, and the passengers assumed the brace position, with their fingers on the Sell buttons. They were now only 5,259,487.66 Seconds from Disaster!

Oct 10, 2008...Flight XJO has lost 15.65% in altitude in just 5 days, passengers are mostly bald and mumbling to themselves. Disco Stu makes a final plea for his savings......"But I didn't know what I was doing, I'm a beginner".....No one pays any mind. He thinks about his wedding night..."Hey baby, Disco Stu wants you to be comfortable while he does his thang"
Captain America is frantically trying to raise someone on the intercom. Eventually he gets junior flight attendant, Ben Bernanke...

BB...Captain, I have 700 billion in my manbag, I'll inject it into the systems, hopefully that will stop the rot.
America....It's too late Bernanke, I've lost everything, sentiment is gone, panic alarms are going off everywhere, I can't raise the Merill Lynch's................(radio silence)
Nov 12, 2008.....Flight XJO explodes, killing all portfolios on board. The debris spreads across the nation, turning 90% of all portfolios to dust. The market is a barren wasteland.

Now 2011...Years pass, and we visit the ruins of the Allco offices, which have been turned into a memorial site. We catch up with Disco Stu, a passenger on that fateful flight. He reminisces on those turbulent years...."I still haven't fully recovered, but I learnt a lot in those days.
Life goes on, but were lessons learnt?......One day we may find out.

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This National Geometric special was brought to you by Credit Crunch....now with sugar coated derivatives.

Good trading to all!