Financial Markets Explained Again

Back in January, I posted a youtube video of two British comedians, John Bird and John Fortune, who explained the subprime crisis in a (of course, being comedians...) humorous, but also surprisingly accurate way. While not giving the full story (in particular, not fully revealing the role of central banks, even though it was hinted in the end) about the current problems, it did accurately reflect some of the causes.

I just found another youtube video from the same comedians about finance. This one isn't fully as good as the first one in terms of either humor or accuracy, but it is still certainly good enough in both aspects to be worthy a post here. In this one, the problems of moral hazard, government deceit and incompetent (and therefore overpaid) bankers and many other issues are discussed. (I could only find a version which was texted in some Eastern European language, probably Czech (If I am mistaken about that, Czech readers are welcome to point it out. Anyway though, it shouldn't really matter)