The heads of Wall Street's biggest investment banks were summoned to an evening meeting by the US Treasury Secretary, Hank Paulson, to discuss the plight of another - Lehman Brothers. After... See full summary »
A close look behind the scenes, between late March and mid-October, 2008: we follow Richard Fuld's benighted attempt to save Lehman Brothers; conversations among Hank Paulson (the Secretary of the Treasury), Ben Bernanke (chair of the Federal Reserve), and Tim Geithner (president of the New York Fed) as they seek a private solution for Lehman's; and, back-channel negotiations among Paulson, Warren Buffet, investment bankers, a British regulator, and members of Congress as almost all work to save the U.S. economy. By the end, with the no-strings bailout arranged, modest confidence restored on Wall Street, and a meltdown averted, Paulson wonders if banks will lend. Written by
[on the housing crisis]
You know, people act like we're crack dealers. Nobody put a gun to anybody's head and said, "Hey, nimrod, buy a house you can't afford, and you know what? While you're at it, put a line of credit on that baby and buy yourself a boat."
You heard anything from Buffett?
He's asking for preferred shares at 40, with a dividend of nine percent.
We were just at 66. What the fuck?
Maybe it's just an opening gambit, Dick.
Sounds more like a goddamn insult!
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As a Real Estate Broker watching this movie, I felt all my beliefs on the subject matter of our current economic failings confirmed. The movie connects the dots and portrays accurately how big money is managed by big people. The little guy actually has no say at all and is just along for the ride. One also sees how fragile everything is if it doesn't work properly. One has thoughts of returning to farming and hunting and living in a nice cabin as a sure thing in these uncertain economic, misrepresented times. Also, our friends the Saudis are no where to be found in this movie which desperately searches for bail-out money. Trillions sit in the middle east frozen for fear of assinations if help is offered to USA is this commentors opinion...Excellent movie but no closure because we are still living in the problem....
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