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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An all right original film of the economic meltdown, and how government bails them out one by one!
This HBO original film "Too Big to Fail" shows one by one how the major financial companies took a dive one by one all by risky investments with lenders money. And the selling of bad mortgage loans and fake stock lead to the downfall of AIG, Bank of America, Merill Lynch, and Leman Brothers. And sadly as we see in this film as many Americans remember the American tax payer had to bail each out with their tax dollars when the federal government in Washington D.C. decided for it.
Director Curtis Hanson is true to form in this film as it was adapted from Andrew Ross Sorkin's book of the same name. The performances in the film are spot on especially that of William Hurt as treasury secretary Henry Paulson and veteran Paul Giamatti as fed chair Ben Bernanke. Also it was nice seeing James Woods and Cynthia Nixon("Sex and the City")in small roles, plus a delight was Ed Asner as Warren Buffet. This film proved what we all know the big financial companies and government people are tied in together and corrupt and the average Joe foots the bill for their escape as they clearly are "To Big To Fail"
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