This documentary offers an insight into the course of the financial crisis in the US. It looks at the events that lead up to the failure and subsequent arranged resolution of Wall Street investment bank, Bear Stearns. The documentary also examines the actions of Federal Reserve Chairman, Ben Bernanke, and former Treasury Secretary Henry Paulson (who was previously a Wall Street executive with Goldman Sachs).
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. There was literally a pause in that room where the oxygen left, says Sen. Christopher Dodd (D-Conn.)
As the housing bubble burst and trillions of dollars’ worth of toxic mortgages began to go bad in 2007, fear spread through the massive firms that form the heart of Wall Street. By the spring of 2008, burdened by billions of dollars of bad mortgages, the investment bank Bear Stearns was the subject of rumors that it would soon fail.
"Rumors are such that they can just plain put you out of business" - Bear Stearns’ former CEO Alan Ace Greenberg tells
Finance Documentaries: http://www.financedocumentaries.com/2011/06/americas-bankrupt-banks-inside-meltdown.html