Frontline: Money, Power and Wall Street

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Frontline is running a pretty good series on the collapse of the economy. Check it out.

Frontline: Money, Power and Wall Street

spicoli's picture
spicoli
Joined:
Jun. 4, 2010 11:12 am

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Very informative well worth the watch. Thanks. The young team at jp mor&moragain that dreamt up the scheme look as if Fed Corp had fall guy already in place well before the crash. amazing how Jp mor&moragain sold out just in time.

FractionallyUnnerved's picture
FractionallyUnnerved
Joined:
Apr. 12, 2012 3:38 pm

If you like the Frontline series on "Money, Power and Wall Street", be sure to watch the Frontline episode titled "The Warning". While Brooksley Born was the head of the CFTC during the Clinton administration, she warned against the moves in congress to further deregulate the financial markets. Her warnings about the Commodities Futures Modernization Act and the dangers of deregulating derivatives proved to be prophetic.

http://www.pbs.org/wgbh/pages/frontline/warning/

miksilvr
Joined:
Jul. 7, 2011 11:13 am
Quote miksilvr:

If you like the Frontline series on "Money, Power and Wall Street", be sure to watch the Frontline episode titled "The Warning". While Brooksley Born was the head of the CFTC during the Clinton administration, she warned against the moves in congress to further deregulate the financial markets. Her warnings about the Commodities Futures Modernization Act and the dangers of deregulating derivatives proved to be prophetic.

http://www.pbs.org/wgbh/pages/frontline/warning/

Thanks for the link! The Commodities Futures Modernization Act of 2000 is at the root of a lot of our economic issues. Thom needs to mention it every show because nobody knows what it is.

spicoli's picture
spicoli
Joined:
Jun. 4, 2010 11:12 am

Ah come on... we know that what brought down the economy: racial minorities lying to get mortgages they could not afford! And this is because Carter passed the Community Reinvestment Act back in ''77!

Oh no, wait... aren't lenders supposed to verify earnings before risking the bank's money? Oh no wait... these new lenders like Country Wide weren't risking their own money, and agents were getting bonuses to sign people up... and the CRA didn't cover these lenders... and... and... and...

It's been an amazing process to watch as the Orwellian Right rewrites the history of the Bush Crash to exclude the GOP and business from any blame. Yet if they deny the real causes, they can never fix the problems. And that's what we can expect if the GOP takes control in November. Since they'e convinced themselves they are blameless they'll deluded themselves the fix is to become even more crazed than before. Ya! That's where they went wrong... they weren't extremist enough!

Pierpont's picture
Pierpont
Joined:
Feb. 29, 2012 1:19 pm

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