The Unconditional Blog

The impartial voice of the industry


TV drama, rather than a documentary best captures the financial crisis

Posted on: August 24th, 2009 | Filed in Money Matters

This is actually a paraphrased quote from the writer-director of the BBC drama Freefall which was aired on TV ONE last night.

The drama for me perfectly captured the immoral and hedonistic period in the lead up to the financial crisis of 2008 by showing the real life of three layers of society directly affected by sub prime mortgage creation, lending and trading in the UK.

In the consequential fall out from the crisis the drama plays out the impact on the lives of the self same parties as their lives unravel as a consequence of collapse of the financial market built on unsound foundations.

The drama I would judge is an excellent piece of education of the circumstances and the real personal impact that the sub prime debacle caused.

My only criticism is that the outcome for those at the bottom rung of the financial and housing ladder were ultimately portrayed as being able to return to some form of normal life, which as a consequence of the horror that they must have gone through with mortgagee reposition and likely bankruptcy as well as loss of job was somewhat far from reality. By contrast the party with the least moral scrupples naturally survived to battle another day in a continued effort to sell people on dreams that seldom approached reality – a very real circumstance.

I would thoroughly recommend it should be aired again or available on demand.

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