Nationalization of Wall Street

Inside the Meltdown video documentary    http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

As you view the next video documentary from Frontline Inside the Meltdown, you will probably notice the overlap with the previous documentary The Warning. One might call it the “domino effect” especially during year 2008. Several situations were all happening at the SAME time. One can’t tell one saga without including part of another saga.

Roots of the Crisis: the link below this paragraph offers commentary from several officials and journalists during the housing/mortgage crisis. Crucial to this situation are the private mortgage companies Fannie Mae (Federal National Mortgage Association) http://www.fanniemae.com/portal/index.html  and Freddie Mac (Federal Home Loan Mortgage Corporation) http://www.freddiemac.com/ . By private I mean they were not government-run Federal agencies. You could actually purchase stock on the national stock exchange. In the year 2015 both entities are listed on the NASDAQ stock exchange. During the Meltdown both companies were nationalized to shore up the mortgage markets. Fannie and Freddie were bailed out by the Federal Government.

The commentary:

http://www.pbs.org/wgbh/pages/frontline/meltdown/themes/howwegothere.html?utm_campaign=videoplayer&utm_medium=fullplayer&utm_source=relatedlink

Subprime loans   The Washtington Post ran a 3-part series offering in-depth analysis of the subprime loan scandal.

http://www.washingtonpost.com/wp-dyn/content/story/2008/06/14/ST2008061401569.html?utm_campaign=videoplayer&utm_medium=fullplayer&utm_source=relatedlink

As you can see, there are more and more entities and actors surfacing in the evolving Meltdown. If you are starting to feel a bit overwhelmed, you are not alone. As I have mentioned in my About page and my first blog, the unbelievable complexity and total irresponsibility that seems to pervade the ongoing Great Recession, compelled me to decide to create this Blog.

Next Stop: Bailing out the Banks

Advertisements

2 thoughts on “Nationalization of Wall Street

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s