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March 29, 2012

The flaw

Inspired by former U.S. Fed Chairman Alan Greenspan's acknowledgment that he'd found a flaw in his model of how the world worked, 'The flaw' attempts to explain the underlying causes of the financial crisis in more depth than any documentary to date. The film tells the story of the credit bubble that caused the financial crash, and presents an original and compelling account of the toxic combination of forces that nearly destroyed the world economy.
Welcome to Wall Street! -- Parsing the problem -- Greenspan finds the flaw -- The optimism of standard economics -- The efficient market hypothesis -- The anomaly of bubbles -- The explosion of capitalism -- The housing bubble -- The instability of asset markets -- Greenspan's self-stabilizing financial system -- The golden 50s : lowest income inequality -- 70s : income growth only at the top -- The 20s credit bubble as a precursor -- Profit from credit feeds bank bonuses -- Globalization and industrialization hit wages -- Real estate in the Hamptons -- Trickle down asset bubbles -- The dynamics of the housing bubble -- Mortgages in the 20s and the founding of the FHA -- Red-lined districts flooded with credit -- The rise of CDOs -- Liars' loans and no ratio loans -- Predatory lending and the foreclosure crisis -- The refinancing gamble -- Upwards redistribution of American income -- Consolidating debt by refinancing -- Housing bubble bursts -- Not enough time to sell -- Connection lost, people hurt -- Instability of income inequality -- Where are they now?

Out of the many videos and discussions on this topic: This DVD looks at the historical aspects and interviews those involved in all sides of the collapse. It is much more pertinent and in depth than some of the others and offers solutions for moving forward into the future. ~Mike

Askwith Media Library 57022-D 82 minutes 2010

Posted by mcmike at March 29, 2012 02:10 PM

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