In part two of this 2012 award-winning series, FRONTLINE investigates the largest government bailout in U.S. history and a series of decisions that rewrote the rules of government and fueled a debate that would alter the country’s political landscape.
This journalism is made possible by viewers like you. Support your local PBS station here:
In the second hour of Money, Power and Wall Street, FRONTLINE producer Michael Kirk tells the story of how the country’s leaders—Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and New York Federal Reserve President Timothy Geithner—struggled to respond to a financial crisis that caught them by surprise.
FRONTLINE’s veteran financial and political producers Michael Kirk (The Choice 2020: Trump Vs. Biden, United States of Conspiracy), Martin Smith (The Crown Prince of Saudi Arabia, The Pension Gamble), Marcela Gaviria (A Subprime Education, Separated: Children at the Border) and Tom Jennings (Right to Fail, Opioids Inc.) team up to present this Emmy Award-winning documentary series.
#Documentary #MoneyPowerWallStreet
Subscribe on YouTube:
Instagram:
Twitter:
Facebook:
Major funding for FRONTLINE is provided by the Ford Foundation. Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation, and additional support from Koo and Patricia Yuen….(read more)
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Money, Power and Wall Street is a documentary series produced by FRONTLINE that examines the forces and players behind the 2008 financial crisis. Part Two of the series delves deeper into the scandals and traumas that unfolded during the crisis, shedding light on the role of major financial institutions and key decision-makers in the events leading up to the economic collapse.
One of the central themes explored in Part Two is the interconnectedness of money, power, and influence on Wall Street. As the documentary reveals, major players in the financial industry wielded immense power and influence over the workings of the economy, with devastating consequences for millions of Americans.
The documentary provides a detailed account of the events leading up to the financial crisis, including the housing bubble, the subprime mortgage crisis, and the collapse of major financial institutions like Lehman Brothers. It highlights the greed and recklessness of major financial institutions, as well as the failure of regulators and government officials to rein in their behavior.
One of the key figures highlighted in the documentary is Timothy Geithner, the former president of the New York Federal Reserve Bank and later Secretary of the Treasury. Geithner played a crucial role in managing the fallout from the financial crisis, overseeing the bailout of major financial institutions like AIG and Citigroup. However, his actions were controversial and divisive, with many critics arguing that he favored the interests of Wall Street over those of average Americans.
The documentary also examines the role of major financial institutions like Goldman Sachs and JPMorgan Chase in the events leading up to the financial crisis. These institutions engaged in risky and unethical behavior, contributing to the economic collapse and causing widespread harm to individuals and communities across the country.
Overall, Money, Power and Wall Street, Part Two provides a compelling and informative look at the forces and players behind the 2008 financial crisis. It sheds light on the ways in which money, power, and influence on Wall Street can have devastating consequences for the economy and society as a whole. The documentary serves as a cautionary tale, reminding viewers of the dangers of unchecked greed and recklessness in the financial industry.
I wonder what Donald Trump would have done if he were President at that time.
This is an excellent review of the whole mess that peaked in late 2008, first in the US and then the world. Underpinning all those events is the whole story of inflation. We see, and we are told, and we believe that inflation is the increase in the dollar price of goods and services. That is not accurate. Those increases are the reaction to inflation not the cause of it.
We have to look at President Nixon's speech in August of 1971 where he severed the link between gold and the dollar. He needed to increase spending to support all the debt and the link with gold prevented this; severing the link meant governments could borrow as much as they wanted, or rather as much as the system would permit, to support new spending. Deficits were the new money.
Since 1971 the value of each dollar has been devalued by this and so it takes more of these devalued dollars to buy something, anything. A dollar today is worth three cents compared with a 1971 dollar. This is a factor of thirty times. In 1971 a modest little house could be bought for $10,000.00 but now costs $300,000.00 or, again, thirty times. Governments have replaced taxation to support spending with devalued dollars all of which is borrowed.
It took the US from its inception in 1776 to 2000 to reach $5.0 Trillion of debt but only until 2023 to reach $31.0 Trillion of debt. The former was in a GDP of $12.0 Trillion whereas the latter is in a GDP of $26.0 Trillion. This is the real truth behind all the smoke. This cannot change and so it will continue through the rest of this century.
There is no solution to this quagmire. The system is totally out of control, put another way, essentially beyond any control. Add to this the population bubble and it does not look any better. In fact, it looks much, much worse. China which produced a miracle over the past forty years will run out of people in the next forty years. In China, the young cannot marry, produce children and buy into the economy. In the developed world we have the same thing happening. The boomers are retiring and there are not enough new people to keep the show running.
Thank you for reading. Comments are welcome.
Consider "Frontline" of PBS along with DW, your wake-up call!