Flashback The Week That Changed Everything

September 15, 2009

VIEW: Inside the political wheeling and dealing surrounding last year's financial meltdown. The first clip, from Inside the Meltdown, examines then-Treasury Secretary Henry Paulson's decision to let Lehman Brothers fail. The second, from Breaking the Bank, explores the aftermath of this decision, including Paulson and Federal Reserve Board Chairman Ben Bernanke's demand that Congress approve a $700 billion bailout.

Need a refresher on the events that forever changed our economy? View our in-depth timeline here.

Also take a look at our extended interviews with key players from both films, including FDIC Chair Sheila Bair, Bank of America CEO Ken Lewis, former Merrill Lynch CEO John Thain and top Paulson aide Michele Davis.

8 Comments

COMMENTS

PBS,
I listen to Frontline and many PBS online shows while working. I use it like a raido station and the narrator does such a great job I rarely have to look at the video I just listen.
I can't tell you how it makes my day just zoom. The information I gain on a subject like the meltdown was priceless.Thanks for the online choices.

JoAnn Underwood / September 16, 2009 2:04 PM

Truly enjoyed the extended interview with Sheila Bair; A personal interview always puts the person on record allowing hopefully a forthcoming result. It allowed me to glimpse a small portion of Frank Paulson’s mind. Good stuff people keep it coming!

Brian Omdahl / September 17, 2009 10:43 AM

Well done. Another informative and absorbing show.

Joe / September 18, 2009 3:19 PM

Good show, but I am totally disappointed with the slow progress of regulatory reform, and lack of attention thereto in
a) banking,b) credit card, c) mortgages and multiple securitisation thereof, d) hedge funds,
e) commodity trading (ban dealing) f) Leveraged borrowing which has to be controlled and capped.
Regards,
Hodgson.

J.V.Hodgson / September 25, 2009 3:20 AM

I feel that bio-fuels will power America and leave us with a huge amount of extra money. It should be studied as much as possible and enforced by the government with relief to people who use bio-fuels. Students who come from top colleges should have programs from the government that reward students for coming up with new ways to save energy especially bio-fuels.

Thomas Nicholson / September 25, 2009 1:00 PM

PBS... tells us like is .....my hat is off to u again

Therock55 / September 25, 2009 11:17 PM

It would be nice to see a documentary about the New Global Economy and the possibility of using a new global monetary currency. What are the chances for this to happen? Is it already taking place?
-t

t / September 26, 2009 3:38 PM

it seems pretty obvious to me that this event was one huge, monstrous ripoff. we do not live in a democracy; we live in a criminally controlled and manipulated oligarchical corporatocracy which is part of an international conspiracy that seems to be hell-bent on the eradication of the middle class.
the powers behind the scene that buy, sell, and/or control the political whores that are the elected or appointed officials are really the ones that run this country, this world. the truth is never told us; look what happened to connie chung or phil donahue when they attempted to speak the truth. both lost their positions with the controlled "news" and entertainment media. the stock market is, unless one is privy to insider information, little more than a crap shoot. as far as what happened to the financial markets last year, it appears to me that most of this has happened in past recession-depression events. we have simply forgotten the history of the financial past. credit drying up, foreclosure of businesses and/or homes, loss of savings, job loss, e.t.c., have all happened in the past in other "downturns". when these events occur, this is when the oligarchs purchase corporations, businesses, properties, possibly with t.a.r.p. and other public funds (our tax money) for pennies on a dollar! oligarchs only care about themselves, and no one else. unless, we the people, do whatever is necessary to remove the unseen emperors and empresses who are truly our enemy, a quality of life for all will never happen. thank you for your time.

yours truly,

joseph e. falgout jr.

joseph falgout / October 21, 2009 12:49 AM

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Editors' Notes