For a long time I have admired the PBS series Frontline for its outstanding reporting. On May 1, the program aired the second-half of a huge four-hour documentary on the origins the Great Recession entitled Money, Power, and Wall Street . The situation obsessed me and my blog posts back in 2008 – 2009. Economically, nothing compares to it in my lifetime. In this post I will attempt to summarize this superb four-part Frontline . Wall Street is the largest sector of the American economy. It is almost double the size of America's manufacturing sector. Ultimately, the 2008 financial crisis and resulting Great Recession cost the world economy $11 trillion dollars. This is how it happened. It all started at a ritzy weekend resort in Boca Raton, FL in 1994. A group of young bankers from JPMorgan , were celebrating the success of the company's derivative portfolios. Young, very bright minds, partying a bit and meeting in small conference rooms hatched a new idea . These
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