Sunday, May 22, 2011

TBTF - Too Big To Fail

Title:      "TOO BIG TO FAIL"
What:   HBO Films Docu(drama)mentary
Date:    Monday May 23, 2011
When:   9:00pm est
Where:  HBO Network

Why: If you really want to know how the "Wizards of Wall Street"
(Big Banks and Wall Street Investment Firms) Collapsed the entire world's economy
You must see this HBO Film - Documentary
               THE TITLE  -  SAYS IT ALL
HBO brings the whole sordid tale to the screen in the sensational original two-hour movie based on the book with the same name by Andrew Ross Sorkin
NEWYORK POST (Review by Linda Stasi)- Right click and Open in New Tab for review
...."They cheat. They steal. They lie. They leave hardworking families homeless. They undermined the entire economy of the United States for their own personal greed. They don't go to jail and still get billions in bonuses.  Who are they? They are the Wall Street SOBs who brought the US to its knees, that's who. Too bad to be true? No." The movie tells the minute-by-minute, seat-of-the-pants story of how Treasury Secretary Hank Paulson (William Hurt) tries to wrangle the arrogant CEOs of the giant financial institutions. It's like watching the meeting of the five families in "The Godfather," except that these five heads were part of the industry that brought not just their enemies, but the whole country, to its knees.
The group includes JP Morgan's Jamie Dimon (Bill Pullman), Goldman Sachs' Lloyd Blankfein (Evan Handler), Morgan Stanley's John Mack (Tony Shalhoub), Merrill Lynch's John Thain (Matthew Modine) and Citigroup's Vikram Pandit (Ajay Mehta).

More info - here - from HBO: "Too Big To Fail "- Right click and Open in New Tab to:  
Read movie Synopsis, Bios, and hear from the Cast and crew
Really Cool: Click here for "Source Documents" used by Andew Sorkin for his book
PDF document showing NYSE Dow Index compared to the "Timeline of the Crisis"

MAY 2010:  OHIO Senator Sherrod Brown (D): ....The biggest problem is the enormous size of the institutions being regulated. "Too big to fail" means they are simply too big, and shrinking them is not on the table.  Last month, Senator Sherrod Brown explained the size problem this way: "Fifteen years ago, the assets of the six largest banks in this country totaled 17% of GDP.  The assets of the six largest banks in the United States today total 63% of GDP, and that’s too (big) - we’ve got to deal with risk to be sure, but we’ve got to deal with the size of these banks, because if one of these banks is in serious trouble, it will have such a ripple effect on the whole economy." Representative Alan Grayson said,"Too big to fail means too big to exist. I don’t think the big banks will get appreciably smaller until after the next meltdown, and one is coming sooner than later Read the Rest Here..from USAWatchdog (Right click and Open in New Tab)

JULY 2010:  OHIO Senator Sherrod Brown (D): Sent a letter to the 4 largest banks, calling on them to work with homeowners facing foreclosure. (Text of letter Here) Nothing happened!

APRIL 2011:  OHIO Senator Sherrod Brown (D): Introduces landmark legislation titled  Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011
(We covered - in detail - on this blog - Click HERE)

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