Money power and wall street

frontline inside the meltdown

We all know what happened next, of course. The hour ends on an equally evocative note, with a visit to the abandoned houses and subdivisions that blight places like Atlanta and Las Vegas, properties that could be sold if only someone knew who actually owned them.

Smith interviews several original members of J. Once the risk was removed, more national banks were willing to get into the subprime mortgage game, previously the domain of smaller, shadier lenders.

The investigation charts the largest government bailout in U.

Money power and wall street questions

Eventually, credit default swaps, which were initially intended only for use by banks and other large corporations, were applied to consumer debt—especially mortgages. Morgan and other banks were making billions of dollars off of the new—and almost entirely unregulated—market, and even trading the risk itself as a kind of derivative. We all know what happened next, of course. McCain fumbled with his index cards, while Obama wowed everyone with his command of the subject matter. Morgan bankers. It caught on, and within a few years, J. Advertisement This, you may not be surprised to learn, is where things really started to go wrong. Of course credit default swaps are crazy! There was a widespread sense that no one really understood the potential ramifications of these increasingly complex products, but as long as business was booming, any attempt at regulation—including a bill to curtail predatory lending in Georgia—was met with fierce resistance. Looking to Europe as well as America, FRONTLINE interviews leading bankers and officials to probe deeply into story of the big banks, how they developed, how they crashed, and whether many of the practices that contributed to the crisis remain clear and present dangers.

What madness! Morgan and other banks were making billions of dollars off of the new—and almost entirely unregulated—market, and even trading the risk itself as a kind of derivative.

the untouchables money power and wall street

It caught on, and within a few years, J. Is the global economy again on the brink? Looking to Europe as well as America, FRONTLINE interviews leading bankers and officials to probe deeply into story of the big banks, how they developed, how they crashed, and whether many of the practices that contributed to the crisis remain clear and present dangers.

What were they thinking?

money power and wall street questions

McCain fumbled with his index cards, while Obama wowed everyone with his command of the subject matter.

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Frontline: “Money, Power And Wall Street”