With brand-name banks are on the brink of failure and the federal government contemplating a massive nationalization of the banking 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 the industry.
Bank of America Chief Executive Officer Kenneth Lewis speaks on the changing financial services industry, September 19, 2008
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 of failure. Now, as the federal government contemplates what could become a massive nationalization of the industry. Veteran FRONTLINE producer Michael Kirk (“Inside the Meltdown”) untangles the complicated financial and political web threatening one superbank, Bank of America, in particular.
By submitting your comments, you hereby give AZPM the right to post your comments and potentially use them in any other form of media operated by this institution.