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Language
English
Description
"In September 2008, beset by mounting losses on high-risk mortgages and mortgage securities, the Federal Home Loan Mortgage Corporation teetered on the brink of insolvency. Fearing that confidence in the housing market would collapse completely if Freddie Mac and its competitor Fannie Mae failed, the US government made the difficult decision to place the two firms into conservatorship, taking control away from shareholders. Although the taxpayer commitment...
Language
English
Description
"Frontline investigates the causes of the worst economic crisis in 70 years and how the government responded. [The film] chronicles the inside stories of the Bear Stearns deal, the Lehman Brothers' collapse, the propping up of insurance giant AIG and the $700 billion bailout. The film examines what Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke didn't see, couldn't stop and haven't been able to fix." -- Container.