The movie shows how Wall Street Moguls make money and the power struggles involved in the entire business.
I watched part one. It is definitely educational, and I highly recommend watching it, but with a caveat: The program focuses on the role of the banks in issuing loans to people who really had no business borrowing money because they were a high credit risk.
So all the banks were just playing a big shell game, or hot potato, passing off the risk to one another. The show informs viewers that the problem came when the housing bubble burst, home prices started falling, and people started to not be able to pay off their mortgages.
The trouble is the program focuses on how the sharks had a feeding frenzy driven by the housing boom, but it blames the financial crisis not on that bubble, but on the banks who tried to profit from it.
So it is really focusing on symptoms rather than causes. What caused the housing bubble in the first place? The program completely ignores that question. The answer is that the Federal Reserve, through its inflationary monetary policy, and the U. Yes, the latter part of that characterization is accurate enough, but the former is a complete fraud.
That statist message is the propaganda aspect of this film. Again, this goes to focusing on the symptoms and ignoring the cause. The Fed system itself is anathema to the idea of a free market economic system.
There is a theme in the program that the banks took on all this incredible amount of risk because they just believed that housing prices would go on climbing forever, or at least never come down, or that they thought spreading the risk by bundling mortgages into securities or engaging in credit default swaps reduced their own risk, etc.
This argument is totally inadequate at best. It ignores the fact that an implicit promise of Fed and government bailouts had already been institutionalized. Goldman Sachs was selling derivatives to customers while at the same time betting against those same toxic assets so as to be able to profit once the music stopped.
Hammond The government perpetually lies to the public about important issues. The mainstream media dutifully serve to manufacture consent for criminal policies.
My writings empower readers with the knowledge to see through the deceptions and fight for a better future, for ourselves, our children, and future generations of humanity.The Price of Wall Street’s Power.
it becomes clear that we must do something to curb the enormous and disproportionate power of Wall Street.
Ford made more money by selling loans. Basically, while this is definitively a very informative documentary, and I highly recommend it, be aware that it is whitewashes the government's role in creating the financial crisis with the propaganda message that we need the government to save us from by slaying this mythical monster called the "free market".
The problem with being rich is that it is relative. With our focus on single individuals, we’ll go ahead and outline a change in thought process as you inevitably move up *levels* in the game of life.
Of all the various postmortem documentaries on the financial crisis, no one has done a consistently better job than Frontline on PBS. Their reporting has been spot on and that's why I'm letting you guys know about a new special they're doing which starts tomorrow called Money, Power, and Wall Street.
I know I'll be watching it, and I suggest all of you do the same. Last week we published the first 2 episodes in PBS' powerful new documentary of the financial crisis.
Part 1 documented Blythe Masters' infamous role in th. 1. ‘Wall Street’ () By uttering the now infamous line, “Greed, for lack of a better word, is good,” the lead character in “Wall Street,” Gordon Gekko, played by Academy Award winner Michael Douglas, epitomized the wealthy and unscrupulous corporate raiders who conducted business deals with Wall Street stockbrokers during the s.