NOW on PBS Season 4 Episode 18 Wall Street Reform and You

The episode of NOW on PBS season 4 episode 18 is titled Wall Street Reform and You. The episode runs for about 25 minutes.

In this episode, NOW on PBS critically examines the 2008 financial crisis and what changes have been made since then to prevent another such crisis from occurring. Host David Brancaccio interviews Elizabeth Warren, who at the time was a law professor at Harvard University, and who criticized the government's abject failure to regulate Wall Street. Warren, who later gained national fame as a U.S. Senator for Massachusetts and a presidential candidate, calls for a government watchdog to oversee financial institutions.

The episode also features interviews with key players in Wall Street reform, including Paul Volcker, the former Federal Reserve chair who advocates for limiting the size of banks to prevent them from becoming too big to fail, and Douglas Elliott, a former investment banker who suggests that government regulation alone is not enough to prevent future crises.

NOW on PBS also looks at the controversial Dodd-Frank Wall Street Reform and Consumer Protection Act, which was implemented after the crisis. While the law includes many positive reforms, including the creation of the Consumer Financial Protection Bureau, some experts criticize its complexity and its weakness in addressing certain issues, particularly the issue of too big to fail.

Additionally, the episode explores the impact of the crisis on working-class Americans, including those who lost their homes due to the subprime mortgage crisis. NOW on PBS also examines the role of financial education and literacy, arguing that individuals need to take more responsibility for their own financial well-being.

Overall, Wall Street Reform and You provides a thorough exploration of the 2008 financial crisis and the reforms that followed. It features interviews with experts and key players in the crisis, as well as a focus on the impact the crisis had on ordinary Americans. In addition, the episode raises important questions about the role of government regulation and the responsibility of individuals in ensuring economic stability.