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Watch PBS hour-long Inside the Meltdown on US economic crash

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mouser:
A great 1hr show on PBS (public broadcasting service in the US), about the recent economic panics in the united states.  You can watch the full thing online now.. very informative, and *infuriating*.

On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days.

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http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

Deozaan:
Thanks for the link mouser. I'm going to have to refrain from commenting in order to avoid getting into politics. >:(

zridling:
I've got this taped and will watch it later today. Saw a similar program yesterday titled, "House of Cards" on CNBC. The whole damn country was nothing but a Ponzi scheme. No one interviewed took any responsibility (including Greenspan), just blamed it all on human nature. Bullshit!



It's funny how cheating makes everything easier. And the US has become known as a nation of cheaters. From steriods in sports to kids using phones during tests to judges dismissing repeated Microsoft anti-trust cases to the multiple Bernie Madoffs to the Bush Admin. not using government email accounts (so their records could not be archived) to one cabinet nominee after another "forgetting" to pay their taxes. And it's so commonplace, the only surprise is the occasional chump who doesn't cheat! Arrggghhh!!

Deozaan:
The whole damn country was nothing but a Ponzi scheme.-zridling (February 19, 2009, 06:35 AM)
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Was? It still is. And it has been for decades! What do you think Social Security is? You pay now with a promise of later returns. Meanwhile all the money immediately goes to pay people who already made their "investment" in Social Security.

zridling:
Good point, Deozaan; we are playing the same game with future social payment promises. Aren't you glad that we didn't privatize it so that Wall Street could burn through that money in a couple of years!

I watched this FrontLine special today and it wasn't as good as the 'House of Cards' show on CNBC. They did more interviews with guys who were out in the field hocking loans to anyone (which the banks were competing with each other to buy and resell to the nearest chump with the help of the ratings agencies). The problem with watching a channel like CNBC is that they're all stuck in their sophomore year of college. They read Ayn Rand and thought she was brilliant and all gov. is bad. Hank Paulson and Greenspan both, proved Rand and Friedman wrong forever, and their only solution was to send the gov. in time after time, after every bank/investment house failure.

Greed may be part of human nature, but that's why we have to watch each other so that one is not robbing the other blind. Anyone who thinks otherwise, I'd like to introduce you to Bernie Madoff. He'll love you. (And Bernie has lots of friends doing the same scams.)

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