Credit crunch Crammer
FRONTLINE: Credit Crunch Crammer
FRONTLINE presents a line-up of four recession focused specials to get you clued up on all aspects of the credit crunch.
The Warning, which finds that alarm bells were ringing ten years before the markets collapsed. Chillingly, calls for regulation were stifled as the banks and officials including Federal Reserve Chairman Alan Greenspan, Treasury Secretary Robert Rubin, and his deputy Larry Summers (pictured) assured Congress that the markets would look after themselves.
Premiering on Tuesday, Breaking the Bank looks at the high-stakes gamble that led banks to the brink of collapse as the US government struggles to shore up the system.
In Card Game on Wednesday Lowell Bergman examines new regulations facing credit card companies under pressure from rising public anger.
The Crammer ends on Thursday with Ten Trillion and Counting, asking if the Obama administration, facing two wars and a collapsing economy, is handling the crisis in the right way.