Tonight on PBS Frontline is investigates the causes of the financial crisis. Check your local listings for times. And for a sneak peak here is the link to Frontline website.
From the press release:
"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission (CFTC) -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"
The Long Demise of Glass-Steagall chronicles the assault on the United States banking system regulations that were put into place as a result of the suspected market speculation by banks in the 1920's. Many believed this caused 20% of all banks to fail.
Frontline has the entire documentary online make it seem like it is online but after trying to get it to stream and it doesn't, you will realize they removed it, cheesy bastards, for viewing renting at your library.
Remember Spitzer? Well ignore his various sins and realize this documentary was made to document the Enron, WorldCom Scandals and is from 2003.
In other words, we've been here before, three times now actually in less than 10 years.
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