Streams

Inside the Meltdown

Tuesday, February 17, 2009

PBS's "Frontline" investigates the inside stories of Bear Stearns, Lehman Brothers, AIG and the $700 billion dollar bailout in "Inside the Meltdown". Frontline producer Michael Kirk and New Yorker staff writer John Cassidy join us. The documentary airs tonight at 9 pm on PBS.

Guests:

John Cassidy and Michael Kirk

Comments [14]

joe

Fascinating, comments critical of NPR and WNYC reportage are deleted.

Feb. 17 2009 04:28 PM
Karen from Westchester

Economics History shows a mousetrap game of how cycles and actions unfold outside the absolute control of any one authority.

Feb. 17 2009 02:00 PM
Peter from New York

I plan to watch Frontline tonight at 9; these guys are credible and merit attention.

Feb. 17 2009 01:58 PM
ericf

Do depressed stock prices facilitate government buy-outs of financial firms?

Feb. 17 2009 01:56 PM
Independent Observer

Perhaps the guests can comment on economist Dean Baker's quote that appointing Larry Summers, Geithner, etc. is like putting Bin Laden in charge of the 'War on Terror'.

Feb. 17 2009 01:54 PM
Hugh from Crown Heights

To follow up on my conspiracy by university pals theory, both Geithner and Paulson are Dartmouth alumni. (Obviously many years apart.)

Feb. 17 2009 01:50 PM
Hugh from Crown Heights

How is the CNBC minute by minute thing any different from the program trading techniques available to very wealthy and large investors/speculators?

Feb. 17 2009 01:47 PM
Wall Street Recruiter from NYC

I am a Wall Street Recruiter and worked for a bulge bracket firm up until May '08. I knew in Aug 2007 what was happening in the market and how wide spread it would be. I had Managing Directors in High Yield Credit telling me that what was happening in 2007 was just the tip of the iceberg and it would get much worse.

If I knew this in August '07 and my bankers knew this in August '07...how come Bernanke didn't know it?

Feb. 17 2009 01:45 PM
joe

One Market Under God by Thomas Frank, published in 2000, described the deregulation of the financial sector and the correspondence between the pre-Depression era and the later '90s.

Perhaps Frontline should travel back in time 9 years and interview Mr. Frank.

Feb. 17 2009 01:44 PM
Hugh from Crown Heights

This may seem overly conspiratorial, but it seems there is a parallel with the British spy scandals of the late 60s early 70s. Then, there was a "He couldn't do that, I was with him at Oxford."

Now it is "He must be right, I was with him at Harvard!" (Or Goldman Sachs, or Chicago, etc.)

There is no denying that there is a "Harvard is right" attitude, well in evidence now in the Obama administration.

And this would go some way to explaining the treatment of Richard Fuld who did not have the standard buddy background.

There are also precedents. Caspar Weinberger was famously loathe to hire anyone who hadn't gone to Harvard.

Feb. 17 2009 01:41 PM
hjs from 11211

what effect did high oil prices have on falling housing prices

Feb. 17 2009 01:33 PM
Karen from Westchester

listen to Simon Johnson's comments, (formerly of the IMF), on this past Friday the 13th, Bill Moyers Journal.

Feb. 17 2009 01:32 PM
Joel Hubbard from long island

The Brazen Bull of Wall street bellows forth with muffled horrific screams of your children's dreams, incinerated on the pyre of greed fueled with your monies. The tears of the innocence’s can not satiate algorithms or derivatives of financial programs; gluttony is nauseated by your humanity. The brunt offering of your being waft up the spire rimmed canyons of Manhattan passed ground zero to circumnavigate the world, the four horsemen await to ride. Sulfur burns your lungs and blurs your mind as you cast your vote for democracy.

Feb. 17 2009 01:02 PM
Leon Freilich from Park Slope

HOMEGROWN

The looming global depression

That's gathering day by day

Has earned the noxious label

Made in the USA.

Feb. 17 2009 12:37 PM

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