The Love Of Money
On September 15, 2008, the firm filed for Chapter 11 bankruptcy protection following the massive exodus of most of its clients, drastic losses in its stock, and devaluation of its assets by credit rating agencies. The filing marked the largest bankruptcy in U.S. history. The following day, the British bank Barclays announced its agreement to purchase, subject to regulatory approval, Lehman’s North American investment-banking and trading divisions along with its New York headquarters building. On September 20, 2008, a revised version of that agreement was approved by Judge James Peck.
Season 1
3 episodes
- 1. The Bank That Bust the WorldThis tells the inside story of the dramatic weekend in September 2008 that nearly destroyed the global economy. How and why did Lehman Brothers – an established powerhouse of the investment banking world – go bankrupt? Why did its collapse start the earthquake that sent shockwaves through the financial markets? With eye-witness accounts from those involved, including Timothy Geithner, Alistair Darling, Barclays President Bob Diamond, former Merrill Lynch CEO John Thain and Lehman's bankruptcy lawyer, we tell the gripping story of how the collapse of a 158-year-old investment bank threatened a catastrophic financial meltdown. What was it like to be there? Here's what Harvey Miller, Lehman's bankruptcy lawyer says: "We really were in almost an adversarial situation."CCSep 10, 2009
- 2. The Age of RiskThis features a major interview with Alan Greenspan and puts the current economic crisis in the context of the last two decades of history. We examine the confidence underpinning two glorious decades of boom. It shows how we changed our attitude to risk and consumers borrowed more, banks lent more and – above all – governments stepped back from regulating any of it. At the heart of it all is Alan Greenspan who, for 20 years, was one of the most powerful people in the world and a committed exponent of free markets. But then, in October 2008, just a few weeks after the catastrophic collapse of Lehman Brothers, the man whose ideas influenced the world admitted he just might have been "partially" wrong.CCSep 17, 2009
- 3. Back from the BrinkThis tells the story of how close the world came to the brink of a total economic collapse last autumn. For the first time the key players tell how they battled to prevent a new great depression – and looks at what this has cost the world. Even today, few realise how close we all came to a truly catastrophic collapse of the very foundation of the modern world. The story is told by the people who took the decisions: Gordon Brown, Brazil's President Lula, finance ministers including the United States' Tim Geithner, Alistair Darling, Germany's Peer Steinbruck, France's Christine Lagarde, and Brian Lenihan from Ireland. Central bankers including Mervyn King and, for the first time, the behind-the-scenes officials tell the ups and downs of a month in which they held the fate of the world in their hands. How close did the world come to collapse?CCSep 24, 2009
The Love Of Money
On September 15, 2008, the firm filed for Chapter 11 bankruptcy protection following the massive exodus of most of its clients, drastic losses in its stock, and devaluation of its assets by credit rating agencies. The filing marked the largest bankruptcy in U.S. history. The following day, the British bank Barclays announced its agreement to purchase, subject to regulatory approval, Lehman’s North American investment-banking and trading divisions along with its New York headquarters building. On September 20, 2008, a revised version of that agreement was approved by Judge James Peck.
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