FRONTLINE | "The Warning" | PBS
http://www.pbs.org/frontlin... FRONTLINE producer Michael Kirk unearths the hidden history of the nation's worst financial crisis since the Great Depression, explore...
FRONTLINE | "The Warning" | PBS http://www.pbs.org/frontline/warning/ FRONTLINE producer Michael Kirk unearths the hidden history of the nation's worst financial crisis since the Great Depression, explores the early warning signs, and asks: Who knew? And who ignored? "The Warning" airs Tuesday, Oct. 20 at 9PM on PBS (check local listings).
In the devastating aftermath of the economic meltdown, FRONTLINE sifts the ashes for clues about why it happened and examines critical moments when it might have gone much differently. Looking back into the 1990s, veteran FRONTLINE producer/director Michael Kirk ("Inside the Meltdown," "Breaking the Bank") discovers early warnings of the crash, reveals an intense battle among high-ranking members of the Clinton administration and uncovers a concerted effort not to regulate the emerging, highly complex and lucrative derivatives markets that would become the ticking time bomb within the American economy.
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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.
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.
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.
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?
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.
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Barney Frank...why is he still in office?