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Showing 1-10 of 17 reviews(Verified Purchases). See all 30 reviews
on May 12, 2014
Viewing this Documentary and others provides an excellent understanding of how the Bank and Wall Street Executives have LOBBIED TO ABOLISH the Glass-Stiegel Act. The Act of 1931 after the Depression established safeguards to protect the public form Banks and Wall Street. When William Jefferson Clinton Signed the Legislation that abolished the Glass-Stiegel Act it began the Bankruptcy of America. Another Video "Inside Job" Shows how Bankers and Wall Street executives developed the schemes to rape the American People of their retirement plans, home mortgages, investment plans and put a lot of money into the pockets of what we now know as the 1%ers. Their activity was Criminal and they managed to grant immunity to themselves in order to not be Criminally Prosecuted..
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on March 26, 2014
I've read (and watched) quite a few accounts of what went wrong in the 2008 financial-economic crisis and what has (and has not) been done to prevent a recurrence. Yesterday I watched this documentary produced via PBS. It is a bit dated; (copyright 2009) and primarily a focus on what was done in the first weeks after the real crisis began, and why. There are much more comprehensive accounts if you're interested; for example focused on this short time-frame "Too Big to Fail" either the book or the movie is excellent. This did contain a few statements affecting my view [possible spoiler alert now]. That when "Hank" Paulson said Lehmann went bankrupt because the government did not have the "authority" to rescue it, this is essentially a lie. This explains how Bear-Sterns was "bailed out" before, which was no more illegal than a bailout of Lehmann Bros would have been. The real reason why Lehmann was allowed to fail was to reinforce the idea of "moral hazard" ie, the government would not rescue every large financial institution that risked billions (or trillions?) of dollars in bad gambles. Paulson was taking a lot of heat for rescuing Bear Sterns and decided he had to "draw a line in the sand" somewhere. Perhaps it was the wrong decision (because that act is what really led to a total freezing of credit market operations and possible worldwide financial collapse) but perhaps it was also necessary as Congress probably would have done nothing had there not been an obvious emergency. In any case the argument that the government "couldn't" was purely an excuse. [Let me say I'm not one subscribing to the idea that Mr. Paulson had malicious intent or was acting in any other way than what he believed at the time was the best interest of the economy--it was simply a wrong decision. The real troublesome problem was that even after the crisis was at its peak, many members of both the administration and Congress continued to subscribe to the bankrupt ideas that, in general, "deregulation" and "free markets" are the best situation, and that so little has been done to prevent another, even worse crisis (it never unfolds in exactly the same way, just like the next war never goes like the previous one did). Further there has been no real reform of the problem that REGULATORS CANNOT PROPERLY REGULATE AN INDUSTRY THEY HOPE TO GO TO WORK FOR AFTER THEY LEAVE GOVERNMENT, EARNING A LOT MORE MONEY. This is a severe and inherent conflict of interest that pevents adequate regulation to stop risky behavior (including criminal prosecutions which--hey--HAVE NOT HAPPPENED). Also nothing has been done to prevent the "buying of Congress" by millions of dollars in campaign contributions by (just for example) large financial institutions, particularly directed toward committee members (of both parties) that sit on the committees that must draft improved regulations. This is how bills like "new regulations" end up getting WRITTEN by lawyers working for the corporations being "regulated". This DVD is short (about 60 minutes) and informative. Although inadequate by itself, it is a nice review if someone is just starting to try to understand just what happened in 2008. We continue to live with the consequences.
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on March 22, 2016
Recommended. I use it in a White Collar Crime class
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on July 14, 2016
A very accurate presentation
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on March 31, 2013
This is a must seen DVD! The crooks, dishonesty and greed in our government is astounding and sobering. This DVD helps make sense of the financial crisis: how it started, ended and the repercussions.
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on April 8, 2014
Everyone needs to view this video program for a good understanding of the 2008 meltdown. It is absolutely right on!
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on June 15, 2014
This is sad case of greed by the rich and powerful in America. Shame, shame on the rich and greedy.
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on March 16, 2016
great cd!
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on October 15, 2013
An extremely interesting dvd explaining the failures of the Bush administration.
Like all Frontline programs this one will open your eyes.
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on August 4, 2014
A vivid account of the financial meltdown that turned into a nationwide shakedown to the benefit of the people responsible for the collapse.
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