Although long, an excellent talk by Adam Tooze, author of Crashed and The Wages of Destruction on why the Great Financial Crisis of 2008 metastasized the way it did beyond the housing market; turning what was a nasty but otherwise run of the mill bubble popping into a genuine threat to the world economy. Tooze also discusses how the Americans responded to the crisis with a 'Financial Powell Doctrine' of overwhelming financial force, and how the GOP gave up being on being a party of government in 2008/2009.