As Wall Street innovated, its revenues skyrocketed, and financial institutions of all stripes tied their fortunes to one another. FRONTLINE probes deeply into the.
In the special four-hour investigation, Money, Power and Wall Street, FRONTLINE tells the inside story of the struggles to rescue and repair a shattered economy.
Frontline aired the first two parts of their documentary " Money, Power & Wall Street " last night. The documentary explores the causes.
Power money and wall street - games free
And that's why the banks trade them. In effect, he said to Paulson, "I've got your back. NARRATOR: Housing advocates around the country took on predatory lenders. Home Video DVDs of Money, Power and Wall Street are available from ShopPBS. Obama was prepared to address the issues far beyond the understanding of McCain. On Wall Street, they called him "the gorilla. JOSHUA GREEN: By the end of the Clinton administration, the folks in the Treasury — Geithner, Summers, Rubin — felt like there was an established playbook for dealing with a financial crisis.
Power money and wall street - phone book
NARRATOR: That summer, as the financial crisis became increasingly obvious, there was no decisive action from those in charge. Sorry, we just need to make sure you're not a robot. Geithner, more proficient in public now, proclaimed that the results of the stress test brought "an unprecedented level of transparency and clarity to the nation's banking system. BILL WINTERS: It allowed participants— either buying or selling, so on either side of the market — to take their positions without being constrained by the size of the underlying market. Tim Geithner is a quasi-Wall Street CEO. He was one of their own. I don't need the money. Money, Power & Wall St NARRATOR: This was a major financial innovation. ROBERT WOLF: I actually went down to the Cooper Union speech with him in his car. And if they can't pay you for whatever reason, then this whole process of risk transfer breaks. Rubin and Summers, along with Federal Reserve chairman Alan Greenspan, became superstars of the financial world. NARRATOR: Now on phone calls with Hank Paulson and Ben Bernanke, Geithner argued they might have to follow the bailout playbook.