PBS: FRONTLINE: Breaking the bank

Jun 27, 2009

I just watched this on PBS. It is available for free online.

Basically a year in the life of the financial markets. It talks about the freezing credit markets and Lehman but focuses mainly on the BAC/MER deal and why things happened, how the gov't forced the hand of 9 financial institutions and why BAC did not invoke the Material Adverse Change clause (gov't hinting that they would not make life easy for BAC).

FRONTLINE: Breaking the bank (about 56 minutes)

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