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Frontline: The Warning

The economic meltdown had early warnings which could be traced back to the 1990s, when regulation of the emerging derivatives markets failed to occur.


7/10 (1 Vote cast)

Episode Info


Episode number: 28x2
Production Number: 2802
Airdate: Tuesday October 20th, 2009

Director: (Unknown)
Writer: (Unknown)


Recap

Will Lyman recounts in 2005 how Washington’s hands off attitude over Wall Street was paying was allegedly working We see Alan Greenspan getting a special civilian from Bush. Lyman recounts his name as “The Wizard”. We hear many analysts comment on him. Lyman talks about Greenspan’s career which goes all the way back to the Gerald Ford administration. We hear how Greenspan was a fun of Ayn Rand who stood opposed to any government control and control in general. Analysts talk about the Libertarianism that Ayn stood for.Lyman tells us that the philosophy of less government control was made for Ronald Reagan and then later on Bill Clinton. We hear about appointment of Bob Rubin, a well known financier in financial markets. Rubin surrounded himself with other big names like Larry Summers a well known economist, and Alan Greenspan. Lyman calls the 90s the Go-Go boom period because it was one of the last big booms in the financial markets...

Read the full recap

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