Video of the Year Week continues here in the MTV Newsroom. Yesterday we took a look at the latest entry into the Video of the Year portfolio, and today celebrates a clip that is not only for a great song but also has an MTV tie-in and is relevant to an anniversary today. Exactly one year ago, Lehman Brothers, one of the most massive financial services firms in the world, filed for Chapter 11 bankruptcy, which profoundly escalated the onset of the current recession and represented the largest bankruptcy in the country’s history. The corporation’s involvement in the investment of subprime mortgages lead to the loss of billions of dollars and the profound devaluation of the group’s stock. It’s a crisis that has yet to resolve itself and will probably be felt for years to come.
Lehman Brothers’ big crime? They were looking for “Money for Nothing.” Dire Straits’ signature clip — which featured iconic computer animation and featured the “I want my MTV” chorus — took home Video of the Year at the 1986 Video Music Awards. It beat out a pair of very famous clips (a-ha’s “Take On Me” and Robert Palmer’s “Addicted to Love”) as well as one underrated gem (Talking Heads’ “Road to Nowhere”) and one that’s totally forgotten (Godley & Creme’s “Cry”). That show was a weird one, as it was split between two venues (one in New York, the other in Los Angeles) and was hosted by a consortium of VJs, including Martha Quinn, Mark Goodman and “Downtown” Julie Brown. Dire Straits also took home Best Group Video, but the big winners from ’86 were a-ha, who actually scored a total of eight awards that night.