Ep 12. Money, Power and Wall Street: Part Two

Money, Power and Wall Street: Part Two is the twelfth episode of the 30th season of the television series, Frontline. The episode delves deep into the aftermath of the 2008 financial crisis and the role of policymakers, bankers, and regulators in the crisis.

The episode is a continuation of Money, Power and Wall Street: Part One, which explored the lead up to the crisis. This episode focuses on the immediate aftermath and subsequent measures taken to prevent another financial catastrophe. It examines the decision-making of policymakers in the White House and Congress, the role of Wall Street in lobbying and shaping financial regulations, and the efforts of regulators to prevent future crises.

To understand the complexity of the situation, the episode features interviews with key players involved in the response to the crisis, including Timothy Geithner, former Treasury Secretary under President Obama, Elizabeth Warren, Senator from Massachusetts, and Sheila Bair, former chair of the Federal Deposit Insurance Corporation. Additionally, the episode features insights from journalists, economists, and financial experts to provide an overview of the crisis and its impact on the economy.

The episode delves into the controversial decision by policymakers to bail out some of the largest banks in the country, such as Bank of America and Goldman Sachs. Critics of the bailout argue that it rewarded Wall Street for its reckless behavior, while supporters claim that it prevented a complete collapse of the financial system and saved countless jobs. The episode explores these arguments and provides a nuanced look at the decision-making process.

The episode also examines the response of regulators and financial institutions in the years following the crisis, including the passage of the Dodd-Frank Act. The act, which is often criticized by Wall Street, aims to prevent future financial crises by increasing transparency and accountability in the financial sector. The episode looks at the potential impact of the act and the challenges that remain in ensuring stability in the financial system.

Money, Power and Wall Street: Part Two offers viewers a comprehensive look at the aftermath of the 2008 financial crisis and shines a light on the individuals and institutions responsible for preventing another crisis. The episode encourages viewers to consider the role of power and money in shaping the economic landscape and raises important questions about the future of the financial system.