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FRONTLINE traces the largest bankruptcy in history to the late 1990s when Lehman Brothers bank did business with a dubious mortgage lender and reveals how Lehman Brothers ignored warnings from its traders, which played out disastrously for Lehman Brothers and the country.
In the beginning, well before the bank failure that sent the
country into full-scale financial meltdown in fall 2008, there were
warning signs at Lehman Brothers that went unheeded. FRONTLINE
traces the largest bankruptcy in history back to the late 1990s
when the venerable Lehman Brothers bank decided to do business with
a dubious mortgage lender who was being sued for fraud. Through
insider interviews, internal documents and exclusive video,
FRONTLINE reveals how Lehman Brothers ignored warnings from its
traders as the company entered into mortgage and real estate
business, and how this played out disastrously for Lehman Brothers
and the country. The film also follows a group of middle-class
families in Marin County, California, fighting foreclosures in the
aftermath of Lehman's failure.