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With brand-name banks are on the brink of failure andĀ the federal government contemplatingĀ 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.
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, 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. Veteran FRONTLINE producer Michael Kirk
("Inside the Meltdown") untangles the complicated financial and
political web threatening one superbank, Bank of America, in
particular.