FRONTLINE | "The Warning" | PBS

[airforcemax]

"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance."

James Madison, (1751-1836),

Father of the Constitution for the USA, 4th US President

[IvanaToke]

#OccupyWallStreet

[KelleyBeld]

Excellent piece of documentary journalism ! Frontline always gets it right but this piece is a masterpiece. They managed to explain a complex series of inter-related events in a way so that even an average person like myself could understand it . Thank you Frontline for explaining how the biggest scam in history was pulled off! Now if we could just prosecute some of these criminals-it would sure make the American people feel a little better!

[ptu1969]

This episode is a shoddy piece of journalism instead of their usual stellar work.

[reel1840]

what choice will you make? illuminati

[ayushaps]

Brooksley Born... genius unheard.

[jebryant38]

Brooksley Born champion of the people.

[GaryVolts]

An additional point I'd like to make is that markets have corrections as a normal part of their operation, just like some forest eco-systems have forest fires. It clears out the old dead trees and makes light and space for new ones. What we had happen here, was that the old dead trees had been able to insert themselves into part of the government, and when the fire threatened to clean their rotten carcasses out, they used unprecidented action to have their own hides at the exense of us all.

[BenkaiDebussy]

@GaryVolts Markets aren't close to efficient. A true "free market" is impossible in reality. While the government does act in the benefit of large corporations, lack of regulation would only increase harmful behavior. Even if you ignore things like public goods, inelastic demand, high capital cost/low competition, etc, people lack the infinite time and knowledge to know if a company is creating unsafe goods, and it would be impossible to distinguish a legitimate evaluation from a fake one.

[GaryVolts]

The program seems to lay blame at the feet of deregulation whithout pointing out the fact the during the entire period, the most fundamental price in a capitalist system - the price of capital (AKA interest rates) were being fixed artifically by Greenspan like some kinf of soviet czar.

[BenkaiDebussy]

@GaryVolts One thing I never see pro-free market people mention is that any form of limited liability business wouldn't exist in a true free market. They only exist as legal entities enforced by the government. I confuses me when libertarians (not saying you are) act like corporations are some natural element of the free market. I'm not against corporations personally - they allow businesses to raise money fast - but there's a huge amount of hypocrisy among those who claim to be laissez faire.

[badattitude77769]

@BenkaiDebussy My experience is that corporations are totally evil, people die, are crippled and poisoned by corporations without regulation, please do what you can to prevent the total facist takeover of the world.

[blessedfrog]

wow  - look how these guys assasinate a character - a woman - irrascible - stubborn - difficult

[billytheweasel]

Same players. Now Geithner is blocking the tiny oversight being allowed. Fire his butt!

[LloydMadoff]

Steal a thousand, you're a thief. Steal a trillion, you're financial elite!

[Stillahills]

I enjoyed this video a lot.

It you are pissed about this video, watch the BBC documentary,

"The Power of Nightmares."

The two stories are kinda tied together.

National security and money, a history of the USA for the last 30 years.

[Suetonius88]

so government couldnt stop this problem when they knew about it and had an agency to deal with it.

now the government is about 7-8 times larger than it was at that time and is absolutely leeching off the american people without providing any goods and services.

[Stillahills]

If you thought this video was surprising, check out the BBC documentary called,

"The Power of Nightmares."

The two stories are kinda tied together if you realize the same people are involved.

[utubedmeoff]

the clintons have caused more damage to this country and soon we will all see just how much...this and not going after and killing osama when he had him in his sights...i.e northern alliance of afganistan. now this jerk obama, 3 of these people who faught against brooke born are in obama's admin.

[pibada2]

If only they had listened to her...how sad.

[BraveWomanCandy]

This movie trying to align Alan Greenspan with Libertarians. That is a poorly disguised sucker punch. Make no mistake this is not a film about Ms. Born, but a underhanded punch at the critics of Obama's push for regulatory action. Delivered by more government over-sites. Instead of a fed audit and public analysis of the crisis. Its BS, and an insult to our intelligence.

[itheuser]

Of course, the Conservative disinformation machine will continue to blame the controversy on the CRA, and poor people.

The unregulated derivatives market is never brought up. The "Invisible Hand" (God), was apparently in the bathroom during the economic implosion.

You see, for Conservatives, it's generally the victim's fault. Haiti, New Orleans, the economy, and 9/11. Conservative pundits have blamed all of these catastrophes on the victims.

It's an egotistical sickness.

[BraveWomanCandy]

Wow you haven't been around a lot of principled women, have you?

[MsbacktoNYC]

@ERROLCUSTERFLYNN4EVR

A woman was the one who stepped up to reveal the Enron fraud, while people around her were terrified to.

[lialammas]

It always amazes me that this country does not permit any immigrants that lye in their application, and of course I totally agreed with that because the foundation of any relationship is trust. So why the government can lye to their people and is all about power and not trust? Politician are all hypocrites.

[outsideredge]

This was an excellent program. And its amazing that even though we are just a year removed from the collapse, no major regulatory reforms have been passed. Oh, some CEOs and officers may not get the big bonuses anymore.  Great, but that's just there to coddle everyone's sensibilities on seeing people get huge payouts. Nothing's been done to modify how the market works. At least a half dozen lobbyists for everyone in Congress, fighting to keep the status quo. Unbelievable. Stand up people.

[moonwarrior5]

All need to watch this!!!!!

[mrpatience2007]

Nothing has been changed to keep it from happening again, in fact obama just give the crooks more power.

[Ansels2]

I wonder what its going to take to bring these guys to justice!!!!!!! We have to do something people!!!

[KNOXVILLISM]

This show should be on again. Leave it to a woman to bring it all down, just like Enron yet nobody would listen to Ms. Born. I bet she was shaking her head last year! We need more women like her.

[professorofliberty]

Amazingly she was far from the only one. Some of my associates testified before congressional committee on banking and finance when Barney Frank was forcing the FNMA to lower their credit standards in order to bring toxic loans to the marketplace. They explictly stated that the mortgage industry would fail in a decade and bring down the economy. He told them they were fools...that he knew what he was doing...that was in 1994-95.

Barney Frank...why is he still in office?

[itheuser]

The CRA did not bring down the economy. Did you even watch the program?

You are repeating an unproven theory about the economic collapse. There weren't enough of these loans being made for it to account for the bottom falling out.

The chopped up derivatives were an intentional Ponzi Scheme that were inflating the market artificially.

This program explains all of that rather clearly.

So much for the "Invisible Hand" theory.

[tjfreak]

@itheuser this is at the absolute tip top of "American greed" you said it... "Ponzi Scheme" at the highest most devastating level . I watched this in full this evening,sobering, would be an under statement.Mrs B was standing in front of an approaching freight train ,Pres.Obama will not be the one who institutes regulation & transparency,

the red flags are raised ,and will sit that way until further disaster way way past his term!

[idiotsallover]

This was an excellent program. Nice job!

[mookixox]

I don't think these traitors could hang from a tree of liberty high enough...

[KenGS333]

I wouldn't go so far as to suggest people be executed over this, but these people need to be investigated, prosecuted, and jailed for what they did. Greenspan in particular has to be recognized for what he was and pay for what he did. I'm personally just can't stand looking at the old ugly bastard, and his attempt to excuse his blind devotion to a flawed economic philosophy sickens me. How many people now suffer because of him, when he himself never will. Disgusting.

[clintonlies]

GS,AIG,JPM and others committed FRAUD !!!!

yet we still have no GS people accountable

for committing FRAUD buy selling

Synthetic CDO,s without collateral and

the top guy at AIG for insuring them .

we have NO RULE OF LAW IN THE USA !

[lucki39284]

I never understood why the GOP villified Bill Clinton. By my estimation, he was the best Republican president, we ever have had short of Lincoln. His administration did much to bring us to the economic crisis we now face. Certainly, Reagan, Bush Sr. and Bush Jr. had their part, but Clinton, Rubin, Summers, Greenspan began the dismantling of the derivative market which brought us to the present. Teabaggers - I'd be with you if you only can understand who's really the blame.

[idiotsallover]

"Teabaggers - I'd be with you if you only can understand who's really the blame." Lucki,

50% of those people you call teabaggers knew exactly what was going on. We didn't ask Fox to join in the tea parties we started way back in 2007. Do not be fooled by the media.

[TarasBulbaRides4ever]

the baton or the cup has now passed to MS. ELIZABETH WARREN, WHO SHOULD GO ON THE WARPATH TO THE WORLD PRESS, THE BRITS, THE CANADIENS, THE AUSSIES, THE EURO COUNTRIES AND THE ASIA PAC AND OF COURSE THE CHINESE AND all others that have a vested financial interest in our incompetence and tell them what they need to know about our DC GOVERNMENT............or not.

[TarasBulbaRides4ever]

the only hope WE THE PEOPLE have is for Apophis in '36 to rearrange the pieces on the tilted rigged game board.

[elwior]

Must see TV!

[bigkahuna132]

I second: Ron Paul

[EndTheFedRes]

look I dont mean to steal any of her thunder but, Ron Paul was calling this long before her.

[rylanka]

good wating oct 20

[ubuibiok]

Brooksley Born, CFTC 1996 Chairperson, warned that unchecked trading in the credit market could lead to disaster, but power brokers in Washington ignored her.

Why has Obama shut her out?

[DavidRaymondAmos]

Thanx for checking me out. I will send ya PM that no doubt will solve your quandry

Best Regards

Dave

[ubuibiok]

*****

[atltom58]

lol all the people that were making all the money are the ones that had her shut down.

[JixMa]

This woman, Brooksley Born, should be given the Nobel Prize for Economics for her intelligence and insight. Oo! Oo! I know! Let's give her Obama's Nobel Peace Prize -- he sure as hell doesn't deserve getting that, so let's give Brooksley Born the prize and the money that goes along with it! She, unlike Obama, deserves it.

[AllstarHunE]

i LOVE frontline

[JixMa]

@AllstarHunE

"i LOVE frontline"

Me too. The best news show on TV! Period.

[AblePumper]

I'll be watching. The whistle blowers NEVER ARE listened too. Everyone just wants to get drunk and raise hell. Then, when it's time to sober up....EVERYONE IS F***ED!!!!!!!!!!!!!!!!!!!!!!!!

[CaliforniaArchitect]

She wasn't the only one to warn Congress and the public. Peter Schiff, Robert Prechter, and Ron Paul were just a few others who were warning us. The times were too good for anyone to care to listen.

[DT5236]

PBS told the truth

[RemiG2006]

As if it really mattered now! Too little too late!

[mprat001]

It does matter. Here are a few reasons:

1. It can still get a LOT worse.

2. Obama has brought a lot of the same people who created this cluster f**k into his administration. This might raise a little outrage over that fact.

3. Brooksley is now on the modern-day equivalent of the Pecora Commission, which, through its investigations in the 30;s, won public support for important reforms (FDIC, SEC, Glass-Steagall). I hope this program will raise her profile and her influence on that Commission.

[GrifterUno]

People are waking up!!!

[rickbar123]

people of America

rise up

[JixMa]

@rickbar123 "people of America rise up"

...And be machine-gunned down in the streets. Those in power have all the high-tech weapons on their side. Any revolt would be very bloody & I doubt very much average Joes could go up against a modern military war machine & prevail these days. The balance of power is way too lopsided in favor of The Man. He controls the cops, the military, the high-tech weapons & the communications to coordinate these forces to put down any uprisings. We are so screwed.

[tooltalk]

gun control rulez (sarcasm)

[FacelessPhoenix]

Thank you Frontline for the absolute highest quality productions and content thru the years.