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      Kamala Harris and Joe Biden each have terrible records. There is no reason to believe they will do much that is good, and every reason to believe they will do much that is bad. Trump will, at least for Americans, probably be even worse. (It is less clear he will be better for foreigners.) The […]
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INSIDE THE MELTDOWN – PBS – To Air Feb. 17, 2009

In this sneak peek from “Inside the Meltdown,” FRONTLINE examines the final hours leading up to the deal between Bear Stearns and JP Morgan, and Treasury Secretary Henry Paulson’s attempts to discourage moral hazard.

In “Inside the Meltdown,” airing Tuesday, February 17 at 9 pm on PBS, FRONTLINE investigates the causes of the worst economic crisis in 70 years and how the government responded. The film chronicles the inside stories of the Bear Stearns deal, Lehman Brothers’ collapse, the propping up of insurance giant AIG, and the $700 billion bailout. Inside the Meltdown examines what Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke didn’t see, couldn’t stop and haven’t been able to fix.

Trailer:

Part 1:

Part 2:

Be sure to tune your cat channels next Tuesday, February 17, 2009 to PBS at 9pm est.

32 Responses

  1. Draconian punishment, but now we all suffer.

  2. I thought that was pretty telling too. Did he have no idea the effect that would have? He scared every other institution and some of the lucky ones got the bailout anyhow and for what?

  3. I am sure Paulson sold all his bearstearns stock befor the deal was made!

    but for

  4. Isn’t it just a hoot the Hank Paulson was the CEO of Goldman Sachs, the largest trading partner for Bear Stearns, before becoming Treasury Secretary.

  5. Did it not occur to them that this could have general and catastrophic consequences?

    The arrogance is breath-taking.

  6. And to think an answer to a tough interview on CNBC started the blocks tumbling.

  7. However, the ominous music and unflattering black and white pics make me laugh.

    It’s so manipulative.

  8. well, they do deserve that….. 🙂

  9. Thanks for the heads up on Frontline, taggles. Gives us time to line up non-injurious objects to hurl at the screen. Frontline has done some wonderful work over the years, including “Is Wal-Mart Good For America?” back in 2004 or so. (The answer was a resounding NO, but who was paying attention.)

  10. Thx taggles.

    Why didn’t they offer $2 a share to all the others- instead of the bailout?

  11. Those clips made me angry, scared and depressed all at the same time.

  12. They still got no Republican votes in the House.

    So much for post partisanship.

  13. Oh God Pelosi is on TV fawning over Obama.

    (Take Trash can hold it to face and Barf)

  14. And the majority leader just had to mention Obama is first African American president. Jeeesus will it ever stop?

  15. Afro: Maybe he thinks some of us out there didn’t know.

  16. fuzzybeargville, on February 13th, 2009 at 2:03 pm Said:
    I am sure Paulson sold all his bearstearns stock befor the deal was made!

    but for

    _________________________________________

    Sorry, fuzzy, I have to ask, “What’s a ‘ but for?’ ”

    Seriously, I can wait to watch this and I will be very interested to see if this story is able to fully explain what happened or if it is only half-truths. Will anyone be live-blogging this?

  17. It passed in spite of bipartisan opposition. The Democrats rammed this through in the most obscene partisan way. 30 pieces of silver for every “Yea.”

  18. Re: the bailouts, especially AIG: I read somewhere that AIG insures the pensions of the Congress. Does anyone know if that’s true?

  19. OT but there’s a thread over on corrente that has a lot of PUMA debate.
    what is the ‘racist’ front page diary regarding fannie mae/freddie mac that they are referring to?

  20. taggles, on February 13th, 2009 at 2:11 pm Said:
    Isn’t it just a hoot the Hank Paulson was the CEO of Goldman Sachs, the largest trading partner for Bear Stearns, before becoming Treasury Secretary.

    Makes you wonder what Paulson’s motives were.

  21. I kinda think Pelosi was trying to hang this albatross of a Stimulus bill around Obama! If it turns south, she can go back and say….”it was Obama all along!”

  22. what is the ‘racist’ front page diary regarding fannie mae/freddie mac that they are referring to?

    This one

    See if you can figure out how any and all Conflucians are racist when you’re reading it.

  23. Sorry, that should be “PUMAs” not “Conflucians”

  24. I think the root cause of our current meltdown is not any particular person or policy, it is the idea pushed by the Right that the market economy is a naturally self-regulating entity that works best with no government “inteference.” Going back to the Enron debacle the Bush administration made it clear it had a hands-off policy towards Big Business and the Markets and could be counted on to look the other way, and our current mess is the inevitable result.

    So far Obama has been reacting half-heartedly to that result, but has yet to show he truly understands the cause.

    The interesting question to me is whether those who push those Free Market myths do so out of theological belief or for the cynical purpose of disguising and justifying their predatory practices. I suspect that not only is the answer “both” but it is often both in the same individuals. Never underestimate the human capacity for doublethink.

  25. OT – taggles, how do you get the youtube video to display in your post?

  26. new thread up! passing stimulus, and open thread!

    speak what’s on your mind!

  27. thanks myiq2xu

  28. How could we not know? I thought all who didn’t partake of the Obama lovefest were racists? Then again, logical arguments are a little beyond Obama and his merry band of mauraders.

  29. Then again, logical arguments are a little beyond Obama and his merry band of mauraders.

    If you’re referring to Corrente, they aren’t Obots.

    That’s what makes their insistence that PUMAs are racists so baffling.

  30. I think BIO is kind of an Obot.

  31. Thanks for the heads up, Taggles.

  32. On maral hazard, all Paulson did was perhaps make bank shareholders and investors a bit more cautious. As for the banks themselves and their executives, moral hazard has not come down with these bailouts, they’ve gone through the roof. If you want bankers to respect the risks of moral hazard and avoid irresponsible behavior, send some of them to jail.

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