PBS Frontline has an EXCELLENT program this week, outlining the events of the financial meltdown. I watched this, and have a much greater understanding of what happened than I did before. Even though I followed events as they were happening, this program does a very good job of taking viewers through the events in retrospect, and putting them into context. This is an hour well-worth spending, educating yourself on the crisis, and how we got here.

You can watch the full program online:
http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

The program only covers events up through the end of the Bush administration, so there's nothing here about how Obama's dealing with the crisis. But it's really interesting to see how Timothy Geithner -- now Obama's Secretary of the Treasury -- was right there in the thick of things when it was all falling apart.

It's also fascinating to watch Hank Paulson's -- Bush's Republican Secretary of the Treasury -- desire to let "moral hazard" take down the insolvent institutions -- and how he ultimately had to back off from Free Market principles in order to try to save the economy.
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