http://www.pbs.org/frontline/meltdown Buy the DVD at http://www.shoppbs.org/entry.point?entry=3450831&source=PBSCS_YOUTUBE_FRL... In this sneak peek from "Inside the Meltdown," FRONTLINE revisits a pivotal moment in the fall of Bear Stearns: CEO Alan Schwartz appears on CNBC to address Wall Street rumors that the investment bank is in trouble.
In "Inside the Meltdown," airing Tuesday, February 17 at 9 pm on PBS, FRONTLINE investigates the causes of the worst economic crisis in 70 years and how the government responded. The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers' collapse, the propping up of insurance giant AIG, and the $700 billion bailout. Inside the Meltdown examines what Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke didn't see, couldn't stop and haven't been able to fix. Watch online at http://www.pbs.org/frontline/meltdown
The problem is all of this money used to bail out these companies comes from you and I. But in order to stay afloat these companies need to rip us off - so the government has to come in and play watchdog- they should have let aig fail just like lehman brothers - let all of it fail. Let this fragile stack of cards go crashing down and rebuild it on a firm foundation. Require twenty percent down payment to get a mortgage. Only have ten year mortgages.
pimaggot 1 year ago
@lialammas I think you Dad may have recalled the Great Depression, and he was a very, very smart man.
x170063 1 year ago
The more I read and find out about this mess the more I remember my Dad's philosophy , money is only good if you can use to buy a real estate or some collateral. Do not put to much in the bank or in the market because is like gambling, you loose control of it.
The worse part is that we cannot recovery our money or our gains. We are the biggest looser generation.
lialammas 2 years ago
where are the PERP WALKS, like in the enron era of crime,, AINT ANY, CAUSE ITS JUST ONE BIG OLD WHOREHOUSE.....THE MAJOR MEDIA, WALL STREET AND OUR WORTHLESS WASH D.C. GOVT. A POX ON THEM ALL.
garyowen4ever 2 years ago 2
When all the money in circulation is due back to the federal reserve, plus interest, lack of liquidity is enevitable. All the banks have to do is stop lending, and keep taking in mortgage and credit card payments.
zorbacci 2 years ago