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Breaking the Bank :: PBS FRONTLINE Investigates

Breaking the Bank
http://www.pyrabang.com/view.php?ref=THX1138&post_id=34047

OVERVIEW: The bets were huge and risky—billions of dollars on the housing market. The upside was undeniable—superbanks reaped billions of dollars, dominated the landscape, and gobbled up competitors. Then the bottom dropped out—the massive losses on Wall Street nearly broke the banks. In the worst crisis in decades, brand name banks are on the brink. Now as the federal government implements an unprecedented intervention in the industry, FRONTLINE goes behind closed doors to tell the inside story of how things went so wrong so fast and to document efforts to stabilize Wall Street. Veteran FRONTLINE producer Michael Kirk (Inside the Meltdown) untangles the complicated financial and political web threatening one particular superbank-Bank of America.

Breaking the Bank
http://www.pyrabang.com/view.php?ref=THX1138&post_id=34047

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SteveMT's picture

"BOOM!" (More Obfuscation)

This thread seemed like the best place for this post. There is some real manipulation going on.

Wednesday, July 1. 2009
"Someone" paid 7% for overnight money on the Fed Trading system last night (that "someone" was a bank, by the way.)

This will be claimed to be "ordinary" end of quarter distortions for closing the books.

Don't believe it for a second.

Let's put this in plain language: The discount window is open for any bank that has good collateral at less than 1/10th of that interest rate.

Therefore there is absolutely no reason for any institution to go into the Fed Funds market for overnight money at 7% unless they have no good collateral to post against it and thus cannot go to the window.

So who is it? No idea. And while the amount borrowed overnight at that rate may be tiny, that's not the point - the point is that the last time we saw anything that dramatic was just before it all went "boom" last year.

Yes, I'm sure that end-of-quarter had something to do with it. In fact, I'd be stunned if it did not.

However, as I noted, there's no reason for anyone to pay that if they have good collateral to post at the discount window, given that you can do so for 1/10th or less the price.

Keep your nose to the ground and your eyes open.

Someone (or more than one someone) is in trouble.

http://market-ticker.org/archives/1177-BOOM!-More-Obfuscation.html

I usually love Frontline.

I usually love Frontline. But that one only focused on the merger of Bank of America and Merril Lynch. It's as if they wanted to do a better story, but focused on those two companies since that is all they could get interviews from. After watching more than half of it, I realized there wasn't any insider information. But, instead it was just putting together all the stories you heard at the time. In case people forgot or didn't hear about them.

The new is the Daily Paul.

Rehash of old news?

Nothing really jumped out at you regarding the people running these banks?

Watch the film "THX1138" online for a glimpse into the future.
http://www.pyrabang.com/view.php?ref=THX1138&post_id=7484

Full program available for viewing

Available here:
http://www.pyrabang.com/view.php?ref=THX1138&post_id=34047

Watch the film "THX1138" online for a glimpse into the future.
http://www.pyrabang.com/view.php?ref=THX1138&post_id=7484

SteveMT's picture

"..untangles the complicated financial and political web..."

Hopefully, they will not make it too complicated! They should keep it simple: greed, power, and screwing the American people.

Is Frontline another mouthpiece for propaganda and lies?

Check out who gave the grants to make the presentation possible. If one of them is BofA, NASDAQ, or the government, then what do you expect to hear?...The truth? Enjoy the program.

Is Frontline another mouthpiece for propaganda and lies?

What TV *news* channel isn't? Although I have to say that "Selling the War" by Bill Moyers was actually very truthful.

Watch the film "THX1138" online for a glimpse into the future.
http://www.pyrabang.com/view.php?ref=THX1138&post_id=7484

Was it just me, or did that

Was it just me, or did that handshake shown several times look Masonic?

Didn't catch it...

Of course I wouldn't know what a "Masonic" handshake would look like anyhow.

Watch the film "THX1138" online for a glimpse into the future.
http://www.pyrabang.com/view.php?ref=THX1138&post_id=7484

bump

for others.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

Does TV do teasers?

Isn't this a TV teaser?

Preview I guess

There are some clips and segments to watch before the "program" airs on the 16th of June.

Set your DVR or wait to watch it later online.

Watch the film "THX1138" online for a glimpse into the future.
http://www.pyrabang.com/view.php?ref=THX1138&post_id=7484