Frontline- The Meltdown- how do you grade it

[Ichingcarpenter]

Poll question: Frontline- The Meltdown- how do you grade it

I found it lacking in depth myself and rehashed
talking points I'd heard before. The public should see
it but to me it didn't go into any depth on
what the public should really know.

For all the hype, I was disappointed

I give it a C but a must see for those that
haven't been paying attention.

[Mojorabbit]

1. I felt the same way

I wanted to see interviews with the congressmen who said they were warned of civil unrest etc. No depth at all.

[prairierose]

10. Yes, I found it very superficial but probably a ..

decent intro for those who have no idea what is happening.

[Warpy]

17. Thanks for making me feel better about spacing it

and not remembering it was on until now, when it's been over for half an hour.

[NRaleighLiberal]

2. I wanted more...but got the sense that it was just the first in a series...

This is all still so relatively recent that I think much, more is to come. Hope so, anyway.

[Ichingcarpenter]

5. Thanks for the link to watch it on line

It is worth watching for some but I found it just an introduction.

Like I said I've followed this since 2006 when huge amounts
of money were being loaned to the banks every week.

I knew something was wrong then. The documentary never covered that.

I have counted 275 times from 2006-2008 the feds loaned billions of money and never a mention
of any banks paying it back. Guess what? They didn't.
This documentary just brushed the dirt of the top of the casket.


Fed added in temporary reserves to the banking system

http://search.us.reuters.com/query/?q=Fed+added++in+temporary+reserves+to+the+banking+system+&st=260&s=US

[slipslidingaway]

19. Temporary reserves are added for a certain amount of time...

for example you could have an overnight repo, 1 day, 14 day etc.

These expire at the end of the set period, there is no new notice when they expire.


http://www.ny.frb.org/markets/omo/dmm/temp.cfm


Temporary Open Market Operations - Please explain
http://forum.themarkettraders.com/read-m/26/5363/5364

[Muttocracy]

3. dunno - watching now (link inside)- how's your downsizing plan going (saw post about the new wheels)

http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

[Ichingcarpenter]

6. I've decided to move to Europe earlier and not 'see the USA'

and just bring the clothes on my back. Not gonna buy the RV
but rent a trailer to give my brother some heirlooms and see my Dad.
I think it will be the last time I see either of them.

I'll live with my son and daughter over there.
My health won't permit that great adventure.

[Dover]

7. From what I can tell Europe is in worse shape, and could become volatile.

If I were to leave the US I would certainly choose a mild climate and a generally civil place (New Zealand)?

[Ichingcarpenter]

9. Denmark is rather stable

also not on the east/west normal historical invasion routes that plague
Poland/Russia/Germany/France history.

I have immigration rights with Denmark.
Not much choice in the matter.

[Muttocracy]

8. best of luck wherever fate takes you

:hug:

[dixiegrrrrl]

Grade D

Nothing was said about the lack of regulation, the derivatives, the pumping up of debt that is the underlying reason the banks could not respond to withdrawal requests.
The housing bubble is getting all the blame, instead of the outrageous loans.

the bailout bill details were skimmed over, nothing about Paulson threatening
"riots in the streets" to induce panic voting.

We get much better coverage from the links here at DU.

Having said all that, I doubt the average person followed the story line that closely.

[Dover]

11. That was how I graded it too. There is SO much that we're not being told.

And all the wrong people and businesses are making off with the loot or making policy.
And does what Paulson/Bernanke did qualify as 'nationalism' when a.)We have nothing to show for it and b.)the government isn't requiring any accountability for the use of the money?
And IF many banks are using the money to purchase other financial institutions isn't that a red flag
that this may, at least in part, be an intentional move toward consolidation (using tax payers money)? Controlled chaos?

AND the dollar has been losing value for some time.

Our government is so friggin
corrupt...they all give me the creeps.

[aquart]

15. And they pretended that Bear Stearns didn't have a history of bad acts.

New York got a $37 million settlement out of them. For being eagle scouts?

[bird gerhl]

4. Big fat "F"!!!

I didn't see a damn thing even remotely related to the economic collapse! It was just some bullshit about dinosaurs! That's the last time I watch Frontline.

[peacetalksforall]

12. I elaborated on it at another posting linked below. In two words here - SHALLOW and PROTECTIVE.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5077453&mesg_id=5078250

They must be afraid of saying what the shadow knows. Hope it gets better next week. I hope there is some depth and attempt at placing responsibility.

Many people in my country are traitors to it.

[Ichingcarpenter]

13. I gave it a C only because

it was an introduction..... and

I really felt like giving it a D, but didn't want to push poll this by giving it
a B or a D.

[alcibiades_mystery]

14. Why these things fall back on Great Man Theories of History, I don't know

We're too stupid to think systemically, I suspect.

Frontline brought up "systemic risk" a lot. But they didn't explain why the systemic risk occurs or even exists (i.e., the fundamental problem of capitalist social organization). Instead, the whole thing turned into some kind of passion play about Hank Paulson struggling with the contradiction between his ideological commitments and the rapidly changing circumstances. Notably, they provided a full and elaborated definition of "moral hazard," no doubt because they are far more comfortable with the principls of the free-market ideologists than they are with alternative explanations of the capitalist social formation.

But it really was disappointing that they decided to personalize the story. It's not a story about personalities. It's a story about a fundamentally irrational capitalist system taken to its limit, where it collapses.

[ColbertWatcher]

16. I also gave it a "C."

And agree with you about all the rehashed talking points.

But, in addition, they started with Bear Stearns' collapse, bypassing all the banks failing prior to that including the quiet fall of Countrywide.

There is something missing here (in the public discussion regarding this GOP banking failure) but, I know I don't know enough to know what it is.

[slipslidingaway]

18. First of a three part series, I gave it a B because it highlighted

the CDS role in this mess.

[lumberjack_jeff]

20. I give it an A.

Given the scope of what it was written to cover, it did a good job of making the history digestible, and pointing out the role that ideology and pettiness played in Lehman's collapse.

Certainly, there's a lot yet to be discussed, such as the role that deregulation played in allowing derivatives to accumulate.