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
I hate to do this right now, but I'm going to have to have a press call first thing, and I don't know what I'm going to tell them.
Okay, here's how you explain it. Wall Street started bundling home loans together - mortgage-backed securities - and selling slices of those bundles to investors, and they were making big money. So they started pushing the lenders saying, come on, we need more loans.
The lenders had already given loans to borrowers with good credit, so they go bottom feeding, they ...
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This HBO produced film gives dialog and a behind-the-scenes feel to the 2008 financial debacle so perfectly exposed in "Inside Job."
The direction by Curtis Hanson is razor-clean cut, and the performances, especially by James Woods, Paul Giamatti and William Hurt underscore the irony that not one of the self-serving "public servants" has "served" one single day of jail time and continue to live their over-the-top, elegant lifestyles.
The effective use of actually news footage from our 24/7 news cycle serve as a percussive soundtrack as we watch the financial worlds of your "off the Street" American citizens self destruct at the hands of the Bush administration.
Thank you HBO for continuing to do what you have done so well for so many years!
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