Meltdown of the financial market
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1) Watch the documentary: http://www.pbs.org/wgbh/pages/frontline/meltdown/view/
The documentary offers an insider view of the meltdown from the point of view of Washington and New York. It starts on September 18, 2008. In the first few moments members of the Congressional leadership are astonished to be brought into a private session with the Federal Reserve Chairman and told that the American and international financial system was in grave danger of a complete meltdown in a matter of days. One of the senators noted, "There was literally a pause in that room while the oxygen left."
2) Write a response indicating what you learned from the documentary and it created a better understanding of the Countrywide case. The references and citations will follow the same format as the other documentaries. Information about the writers and producers is on the PBS website.
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Solution Summary
A review of the documentary about the "meltdown" of the financial market on pbs.org in 500+ words.
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I am outlining my views on the documentary. There is written commentary on the site as well. You will want to read this information to add your own view, especially in light of the Countrywide case. I do not know what case study you are using and there are many interpretations of that, just like the fall of the financial markets.
A large part of the problem occurred within the media, where the problems were exacerbated and enlarged. Bear Stearns was stable, though held too much mortgage debt bundles. However, the crisis occurred due to the focus by the financial media, not on the mortgage issues, but on the pending failure of Bear Stearns, which was not true. Then poor public speaking skills helped fuel the issues, being read by people who also like to read into every ...
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