Tag Archives: PBS

Did you see The Warning?

For anyone who would like to know how the economic meltdown could happen and when it will happen it again, you just have to see this show: PBS Frontline: The Warning. As you’d expect, it stars a bunch of rich powerful middle-aged white men in courageous battle to protect Ayn Rand’s dream of unfettered capitalism against one woman, Brooksley Born, who dared to raise her hand and suggest that the super secret, totally unregulated, multi-trillion dollar derivatives markets needed adult supervision. It is riveting. Find out how we hunted down those responsible and made sure they can’t do it to us again. Spend a few minutes strolling memory lane with the greatest leaders of our lives: Ford, Reagan, Greenspan, Clinton, Rubin, Gramm and others. Here’s a 4 minute preview:



In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation’s worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Born, who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008.

“I didn’t know Brooksley Born,” says former SEC Chairman Arthur Levitt, a member of President Clinton’s powerful Working Group on Financial Markets. “I was told that she was irascible, difficult, stubborn, unreasonable.” Levitt explains how the other principals of the Working Group — former Fed Chairman Alan Greenspan and former Treasury Secretary Robert Rubin — convinced him that Born’s attempt to regulate the risky derivatives market could lead to financial turmoil, a conclusion he now believes was “clearly a mistake.”

Born’s battle behind closed doors was epic, Kirk finds. The members of the President’s Working Group vehemently opposed regulation — especially when proposed by a Washington outsider like Born.

“I walk into Brooksley’s office one day; the blood has drained from her face,” says Michael Greenberger, a former top official at the CFTC who worked closely with Born. “She’s hanging up the telephone; she says to me: ‘That was [former Assistant Treasury Secretary] Larry Summers. He says, “You’re going to cause the worst financial crisis since the end of World War II.”… [He says he has] 13 bankers in his office who informed him of this. Stop, right away. No more.'”

Greenspan, Rubin and Summers ultimately prevailed on Congress to stop Born and limit future regulation of derivatives. “Born faced a formidable struggle pushing for regulation at a time when the stock market was booming,” Kirk says. “Alan Greenspan was the maestro, and both parties in Washington were united in a belief that the markets would take care of themselves.”

Now, with many of the same men who shut down Born in key positions in the Obama administration, The Warning reveals the complicated politics that led to this crisis and what it may say about current attempts to prevent the next one.

“It’ll happen again if we don’t take the appropriate steps,” Born warns. “There will be significant financial downturns and disasters attributed to this regulatory gap over and over until we learn from experience.” – PBS Frontline

The Path to War

Bobby Kennedy and LBJ discuss Vietnam escalationCompeting with Thanksgiving travel, Black Friday speculation, unemployment, layoffs, budget shortfalls, the health care debate, election violence in the Philippines, the mine disaster in China, H1N1 vaccine supplies, a former governor’s book tour, the beginning of the last two years of Oprah, the American Music Awards, Kennedy troubles with the Catholic church and on-going coverage of Michael Jackson and Princess Di, is President Obama’s decision on sending more troops to Afghanistan. Bill Moyers offers (aired 11/20/09 on PBS) a prospective through the LBJ’s decision to do the same in Vietnam.

BILL MOYERS: Welcome to the Journal.

Our country wonders this weekend what is on President Obama’s mind. He is apparently, about to bring months of deliberation to a close and answer General Stanley McChrystal’s request for more troops in Afghanistan. When he finally announces how many, why, and at what cost, he will most likely have defined his presidency, for the consequences will be far-reaching and unpredictable. As I read and listen and wait with all of you for answers, I have been thinking about the mind of another president, Lyndon B. Johnson.

I was 30 years old, a White House Assistant, working on politics and domestic policy. I watched and listened as LBJ made his fateful decisions about Vietnam. He had been thrust into office by the murder of President John F. Kennedy on November 22, 1963– 46 years ago this weekend. And within hours of taking the oath of office was told that the situation in South Vietnam was far worse than he knew.

Less than four weeks before Kennedy’s death, the South Vietnamese president had himself been assassinated in a coup by his generals, a coup the Kennedy Administration had encouraged.

South Vietnam was in chaos, and even as President Johnson tried to calm our own grieving country, in those first weeks in office, he received one briefing after another about the deteriorating situation in Southeast Asia.

Lyndon Johnson secretly recorded many of the phone calls and conversations he had in the White House. In this broadcast, you’re going to hear excerpts that reveal how he wrestled over what to do in Vietnam. There are hours of tapes and the audio quality is not the best, but I’ve chosen a few to give you an insight into the mind of one president facing the choice of whether or not to send more and more American soldiers to fight in a far-away and strange place.

Granted, Barack Obama is not Lyndon Johnson, Afghanistan is not Vietnam and this is now, not then. But listen and you will hear echoes and refrains that resonate today.

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National Parks: America’s Best Idea

The National Parks - America's Best IdeaTHE NATIONAL PARKS: AMERICA’S BEST IDEA is a six-episode series directed by Ken Burns and written and co-produced by Dayton Duncan. Filmed over the course of more than six years at some of nature’s most spectacular locales – from Acadia to Yosemite, Yellowstone to the Grand Canyon, the Everglades of Florida to the Gates of the Arctic in Alaska.

THE NATIONAL PARKS: AMERICA’S BEST IDEA is nonetheless a story of people: people from every conceivable background – rich and poor; famous and unknown; soldiers and scientists; natives and newcomers; idealists, artists and entrepreneurs; people who were willing to devote themselves to saving some precious portion of the land they loved, and in doing so reminded their fellow citizens of the full meaning of democracy.

 

National Parks: America’s Best Idea

 

PBS PREVIEWS: NATIONAL PARKS

 

Theodore Roosevelt

 

Grand Canyon/Kirk

 

Enchanted

 

Park’s Protection

 

Schullery & Hartzog

Truman Everts

 

Everglades National Park

 

Hawaii’s New Land

 

Mark Twain

 

Robert Sterling Yard

 

Chiura Obata