I caught the second half the this investigative documentary last nite on CNBC, and I finally "see the Big Picture" of how we got in the Mortgage and Banking Mess that we are in right now.
David Faber - CNBC Anchor and Reporter, does an excellent job of interviewing "real people" at every stage of this "profit-driven" food chain, so that we get a real feel for the extent and nature of this Global Economic Meltdown:
House of Cards
http://www.youtube.com/...
Watch CNBC
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET
http://www.cnbc.com/...
Here's the official page for the documentary House of Cards
by David Faber - CNBC Anchor and Reporter
THE HOUSE OF CARDS
CNBC presents the definitive report on the defining story of our time. CNBC correspondent David Faber investigates the origins of the global economic crisis, with first person accounts from home buyers, mortgage brokers, investment bankers and investors – most of whom let greed blind them, leading to the greatest financial collapse since the Great Depression.
These preview clips give you a sense of the Report, and the "real world" dialogs David Faber had with the Players involved. They expose the Problems that still yet need to be resolved, one way or another.
(And NO, I don't work for CNBC! But I do care about fixing the Mortgage Mess -- and getting it Right this time.)
The Lenders / House of Cards (Video Preview)
Lou Pacific worked for Quick Loan Funding. The company targeted people who couldn't afford a down payment and had poor credit?so-called "sub-prime borrowers." With no shortage of eager borrowers, business was booming and Quick Loan made millions of dollars.
http://www.cnbc.com/...
The Investors / House of Cards (Video Preview)
In a rare interview, CNBC's David Faber speaks with one of the few savvy investors who bet against the mortgage-backed security fever -- Dallas's Kyle Bass -- whose hedge fund soared 600% in just eighteen months.
http://www.cnbc.com/...
Here's a Slideshow for the documentary House of Cards Slideshow, to get a sense of the range of topics covered.
Watch CNBC: House of Cards
Sunday, February 15th 9p ET
Monday, February 16th 8p | 12a ET
Sunday, March 1st Midnight ET
Sunday, March 15th 9p ET
http://www.cnbc.com/...
This Report WILL change the National Dialog,
IMO
Here is a good review of the House of Cards documentary:
"House of Cards" explains how economy crumbled
By Joanne Ostrow
The Denver Post
Posted: 02/10/2009
http://www.denverpost.com/...
Countries that "invested" in this Toxic creations of Wall Street (CDO, CMO, CDS) are taking notice too:
Mystique of global crisis unravelled
What Are We To Do
By TAN SRI LIN SEE-YAN
Saturday February 14, 2009
http://biz.thestar.com.my/...
PostScript:
Looks like PBS has got its Investigative Team in gear too:
FrontLine: Inside the Meltdown
watch on air & online beginning February 17
What is "Moral Hazard"? FrontLine explored the subject ...
http://www.pbs.org/...
WATCH: FrontLine: Inside the Meltdown
PBS: February 17
Be an informed Citizen!