In the second of a four part series, Frontline examines how the financial top brass dealt with the dilemma that this systemic risk caused. The basic survival of the fittest ideals of a market system were continually discarded as the reality of the “too big to fail” situation was revealed. Being backed further into the corner the choice between letting the markets self correct or bailing out the banks became increasingly easy to make as it was obvious the system would not self correct. In unplanned desperation Geithner and Paulson turned to the government and managed to produce a blank check which they handed on to the banks.
Watch Money, Power and Wall Street: Part Two on PBS. See more from FRONTLINE.