THE 2008 FINANCIAL MELTDOWN
On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. "There was literally a pause in that room where the oxygen left," says Sen. Christopher Dodd (D-Conn.). (more »)
"You had a conservative secretary of the Treasury and conservative administration. There was right-wing criticism over Bear Stearns," says Congressman Barney Frank (D-Mass.), chairman of the House Financial Services Committee.
FRONTLINE then chronicles the disaster that followed. Within 24 hours, the stock market crashed, and credit markets around the world froze. "We're no longer talking about mortgages," says economist Gertler. "We're talking about car loans, loans to small businesses, commercial paper borrowing by large banks. This is like a disease spreading."
Watch The Full Program | Inside The Meltdown | FRONTLINE | PBS
Obama had not even taken office and had no effect on the economy and the Right is blaming Obama? The disease continure to spread. Lack of regulations? We are still seeing the effect of that 2008 meltdown. But thank GOD for Obama that we are finally in economic financial recovery. Might as well blame him for the flood in Noah's day also. A very good analogy. Only those like Romney managed to still make millions and survive. These are all the things we are blaming Obama for? And you want us to give the keys to the government back the to Good Ol Boys?
Not only did the financial meltdown affect us, it affected all of Europe.
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“As for the natives, they’re near all dead of the smallpox. So the Lord has cleared our title to what we possess. And we shall be the place where the Lord shall create a new heaven and new earth.”
Gov.Winthrop
On Thursday, Sept. 18, 2008, the astonished leadership of the U.S. Congress was told in a private session by the chairman of the Federal Reserve that the American economy was in grave danger of a complete meltdown within a matter of days. "There was literally a pause in that room where the oxygen left," says Sen. Christopher Dodd (D-Conn.). (more »)
"You had a conservative secretary of the Treasury and conservative administration. There was right-wing criticism over Bear Stearns," says Congressman Barney Frank (D-Mass.), chairman of the House Financial Services Committee.
FRONTLINE then chronicles the disaster that followed. Within 24 hours, the stock market crashed, and credit markets around the world froze. "We're no longer talking about mortgages," says economist Gertler. "We're talking about car loans, loans to small businesses, commercial paper borrowing by large banks. This is like a disease spreading."
Watch The Full Program | Inside The Meltdown | FRONTLINE | PBS
Obama had not even taken office and had no effect on the economy and the Right is blaming Obama? The disease continure to spread. Lack of regulations? We are still seeing the effect of that 2008 meltdown. But thank GOD for Obama that we are finally in economic financial recovery. Might as well blame him for the flood in Noah's day also. A very good analogy. Only those like Romney managed to still make millions and survive. These are all the things we are blaming Obama for? And you want us to give the keys to the government back the to Good Ol Boys?
Not only did the financial meltdown affect us, it affected all of Europe.
--------------------------------------------------------------------------------
“As for the natives, they’re near all dead of the smallpox. So the Lord has cleared our title to what we possess. And we shall be the place where the Lord shall create a new heaven and new earth.”
Gov.Winthrop
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