Today, it is a grim reality, with bailouts, bankruptcies, and massive layoffs all stemming from a complex problem with a simple name: the credit crisis. Faber follows the story from mortgage broker to homeowner, brokers to ratings agencies and all the way to former Federal Reserve Chairman Alan Greenspan. }); : The mantra on Wall Street was that home prices nationwide had not gone down in a single year since the great depression. The presentation clearly showed the pro-Democrat bias of CBS and 60 Minutes. "https:":"http:")+"//ds-aksb-a.akamaihd.net/aksb.min.js")}, Best Debt Consolidation Loans for Bad Credit, Personal Loans for 580 Credit Score or Lower, Personal Loans for 670 Credit Score or Lower. Please rank them in order from most responsible to least responsible. In this CNBC Original, Carl Quintanilla reveals how products reach Oprah, the people behind the brands she highlights; and just how successful she makes them. Get this delivered to your inbox, and more info about our products and services. if (!matches) { Please review our Terms of Use (. } Thats what kept Michael Francis going, even if he was starting to have doubts. What is "Moral Hazard"? .filter(categoryPreference => !categoryPreference.includes('0_') && categoryPreference.includes(':0')) As the U.S. government tried to revive the economy by repeatedly dropping interest rates, families lunged at the opportunity to refinance their mortgages. let cStart = document.cookie.indexOf(`${name}=`); mps._queue.mpsloaded = mps._queue.mpsloaded || []; return Object.values(OneTrustCategories).filter((c) => blockedCategories.includes(c)).length > 0; James Segelstein is senior producer. } else { isEEARegionCheck(); mps._queue.mpsloaded.push(function(){ cEnd = document.cookie.length; CNBC investigates the causes of the 2007 financial crisis by examining the roles of mortgage lenders and Wall Street financiers in the disaster.CNBC investigates the causes of the 2007 financial crisis by examining the roles of mortgage lenders and Wall Street financiers in the disaster.CNBC investigates the causes of the 2007 financial crisis by examining the roles of mortgage lenders and Wall Street financiers in the disaster. To calculate the overall star rating and percentage breakdown by star, we dont use a simple average. Watch CNBC's 'House of Cards' Thursday Night if (mps.response && mps.response.dart && typeof(mps.response.dart.adunits) === 'object') { Trailer: Gray Area. Your recently viewed items and featured recommendations. }, mpsopts = { 'cag[related_primary]' : 'Citigroup Inc|Morgan Stanley' , } Faber speaks with Former Federal Reserve Chairman Alan Greenspan who defends decisions he made that critics say laid the groundwork for the crisis. mps._queue.refreshads = mps._queue.refreshads || []; })(); After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. The program had a name only a banker could love: the pay option negative amortization adjustable rate mortgage. It was designed to help first-time homebuyers who couldnt actually afford the cost of the loan. Exploring just how far the effect of the credit crisis extended, Faber travels to Narvik, Norway, a town far above the Arctic Circle that was convinced it could solve its budget problems by investing in Wall Street's wares. "Let's hope we are all wealthy and retired by the time this house of cards falters." Emmy, Dupont, and Peabody Award-winning correspondent David Faber investigates the defining story of our time with inside accounts from key players, tracing the origins of the calamity from Main Street to Wall Street to Washington. "CNBC Documentaries" House of Cards (TV Episode 2009) - IMDb const blockedCategories = decodeURIComponent(matches[1]) : Trailer: Pain. He could have put pressure on Moody's and Standard and Poor to stop issuing AAA ratings for CDO's that did not meet that standard. The documentary launch page. 'cag[configuration_franchise]' : 'CNBC: News Releases' , This content was created by a Daily Kos Community member. TARGETED_ADS: 4, mps._queue.gptloaded = mps._queue.gptloaded || []; STRICTLY_NECESSARY: 1, Greenspan also admits that even he did not understand the details of the more complex securities on the market. if (document.cookie.length > 0) { } (function(){ 'hline' : 'Mad Money' , var foresee_enabled = 1 mps._queue.mpsinit = mps._queue.mpsinit || []; 'stitle' : 'Watch CNBCs House of Cards Thursday Night' , if (cEnd === -1) { // (function() { } Watch CNBC Originals Streaming Online | Hulu (Free Trial) console.log('PUB-GDPR-CHECK Blocked Categories: ', blockedCategories); Best Sellers Rank: #203,297 in Movies & TV ( See Top 100 in Movies & TV) #10,509 in Documentary (Movies & TV) mps._queue.adview = mps._queue.adview || []; const name = ONE_TRUST_COOKIE_NAME; }; A Division of NBCUniversal. cStart = cStart + name.length + 1; "":"no-")+"fn-start",[f.now(),r,o],n),o)try{return e.apply(this,arguments)}catch(t){throw c.emit("fn-err",[arguments,this,t],n),t}finally{c.emit("fn-end",[f.now()],n)}}}};a("actionText,setName,setAttribute,save,ignore,onEnd,getContext,end,get".split(","),function(t,e){h[e]=o(l+e)}),newrelic.noticeError=function(t,e){"string"==typeof t&&(t=new Error(t)),i("err",[t,f.now(),!1,e])}},{}],18:[function(t,e,n){e.exports=function(t){if("string"==typeof t&&t.length)return t.length;if("object"==typeof t){if("undefined"!=typeof ArrayBuffer&&t instanceof ArrayBuffer&&t.byteLength)return t.byteLength;if("undefined"!=typeof Blob&&t instanceof Blob&&t.size)return t.size;if(! CNBC presents a definitive look at the life, career and impact of the most important central banker of modern times. It is as if he just stood by when he found out all these banks were making bogus deals with consumers buying homes they could not afford. } head.insertBefore(mpsload, head.firstChild) mps._ext = mps._ext || {}; head.insertBefore(mpsload, head.firstChild) }; In this two-hour special, CNBC investigates the origins of the global economic collapse. 'adunits' : 'Top Banner|Badge A|Badge B|Badge C|Badge D|Flex Ad First|Box Ad 1|Non Iframe Custom|Inline Custom|Movable Box Ad|Responsive Rectangle' , David Faber is excellent in providing a clear path thru the complex perfect storm of events that nearly destroyed our financial system. console.log('PUB-GDPR-CHECK all blocked. }; I just finished watching the CNBC documentary House of Cards (hat tip to Gregg for pointing it out to me). return Object.values(OneTrustCategories).filter((c) => blockedCategories.includes(c)).length > 0; "true" : "false") + "; expires=" + d.toUTCString() + "; path=/"; Would recommend everyone spend the time to view this. TARGETED_ADS: 4, Faber introduces viewers to mortgage lenders like Daniel Sadek who drastically reduced borrowers' credit requirements and raked in personal profits of $5 million a month. "House of Cards" explains how we got into today's economic mess - with inside accounts from key players from home buyers to mortgage sellers to Alan Greenspan. const ONE_TRUST_COOKIE_NAME = 'OptanonConsent'; I thought the interviews with Allen Greenspan were enlightening. For more information, please see our } else { T he pay option negative amortization adjustable rate mortgage is a term commonly associated with "House of Cards" documentary. A feud starts between Francis and Marty Spinella. if (typeof(window._mpspixZ) != 'string') { (function() { // execute })(); Any free trials valid for new and eligible returning subscribers only. if (mps._urlContainsEmail()) { // check for region and redirect if country is in EEARegion }).catch(() => {}); 'nid' : '29167221' Help others learn more about this product by uploading a video! ASIN : B002SF9YCU. But I do care about fixing the Mortgage Mess -- and getting it Right this time. if (mps.response && mps.response.dart && typeof(mps.response.dart.adunits) === 'object') { This documentary highlights the plight of America during the Housing Boom. if (!_qs) { The most famous name on Wall Street is now the subject of both professional admiration and public scorn. David Faber - CNBC Anchor and Reporter, does an excellent job of interviewing "real people" at every stage of this "profit-driven" food chain, so that we get a real feel for the extent and nature of this Global Economic Meltdown: House of Cards CNBC investigates the causes of the 2007 financial crisis by examining the roles of mortgage lenders and Wall Street financiers in the disaster. var s = document.createElement("script"), el = document.getElementsByTagName("script")[0]; Questions, comments, suggestions for the Mad Money website? David Faber: House of Cards - CNBCfix mps.__timer = Date.now ? window._mpspixZ = (function(a){var b="abcdefghiklmnopqrstuvwxyz".split("");a||(a=Math.floor(Math.random()*b.length));for(var c="",d=0;d } In 2004, in the midst of the housing boom, President George Bush had a chance to do a little bragging in his State of the Union Address. Go behind-the-scenes at the crown jewel of horse racing, the Kentucky Derby at Churchill Downs, for an inside look at the multi-billion dollar industry. function isEEARegionCheck() { Chronicles the sub-prime mortgage lending debacle in America on Wall Street, which affected global economies as well and let America into a recession. 'content_id' : '29167221' , } As a result, the mortgage balance increased; instead of the mortgage being paid down, it was getting bigger. < Click Essay Writer to order your essay > In 2004, George W. Bush announced that the economy was growing exponentially and thus was the housing market. Studio : NBC New Documentarie. Americans are facing the most crushing economic crisis since the Great Depression. 'id' : '28984151' , The Definitive Look At The Origins Of Today's Global Economic Crisis. "updatecorrelator" : true 'cag[attribution_source]' : 'CNBC US Source' , Greenspan: Power, Money & The American Dream, Marijuana Inc: Inside America's Pot Industry, Scam of the Century? Monday, February 16th 8p | 12a ET mps.__timer = Date.now ? Got a confidential news tip? if (result && result.geo && result.geo.country_code) { } The Meridian: Documentary Review: House of Cards Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/. You'll see the sport's greatest successes, biggest misses and the resulting challenges and how even in this tough economy, Thoroughbreds are big business. , Release date For more information including web extras and extended video clips, log onto originals.cnbc.com.About CNBC:CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. return false; if (isOneTrustAnyBlocked()) { var pixelurl = ((document.location.protocol === 'https') ? CNBC presents the definitive report on the defining story of our time. ;NREUM.info={beacon:"bam.nr-data.net",errorBeacon:"bam.nr-data.net",licenseKey:"356631dc7f",applicationID:"230538944",sa:1} 'type' : 'blogpost' , You should be able to identify at least 5 players. By Joanne Ostrow mps._ext = mps._ext || {}; STORAGE: 6, Also, in a rare interview, Faber speaks with one of the few savvy investors who bet against the mortgage-backed security fever . 'cag[template]' : 'story_simple' , Data is a real-time snapshot *Data is delayed at least 15 minutes. 'cag[attribution_author]' : 'Tom Brennan' , House of Cards: With David Faber, Alan Greenspan, Joe Dunckley, Barbara Dunkley. With Kevin Spacey, Robin Wright, Kate Mara, Michael Kelly. if (cStart !== -1) { In this CNBC Original, correspondent Carl Quintanilla takes you inside the ''West Point of capitalism'' as it commemorates its centennial. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. 'is_content' : '1' , Go inside the race to beat obesity, where the waistline meets the bottom line. Genres Special Interest, Documentary, Talk Show and Variety Watch CNBC's "House of Cards" -- to understand the problem - Daily Kos const blockedCategories = decodeURIComponent(matches[1]) From tips for running a business, to pitfalls to avoid, /r/business teaches you the smart moves and helps you dodge the foolish. House of Cards: Season 1 (Extended Trailer) Episodes House of Cards. mps._queue.mpsloaded.push(function(){ 'byline' : 'Tom Brennan' , mps._queue = mps._queue || {}; (function() { "443":"80"),r.hostname=e.hostname||n.hostname,r.pathname=e.pathname,r.protocol=o[0],"/"!==r.pathname.charAt(0)&&(r.pathname="/"+r.pathname);var i=!e.protocol||":"===e.protocol||e.protocol===n.protocol,a=e.hostname===document.domain&&e.port===n.port;return r.sameOrigin=i&&(!e.hostname||a),r}},{}],17:[function(t,e,n){function r(){}function o(t,e,n){return function(){return i(t,[f.now()].concat(s(arguments)),e?null:this,n),e?void 0:this}}var i=t("handle"),a=t(21),s=t(22),c=t("ee").get("tracer"),f=t("loader"),u=NREUM;"undefined"==typeof window.newrelic&&(newrelic=u);var d=["setPageViewName","setCustomAttribute","setErrorHandler","finished","addToTrace","inlineHit","addRelease"],p="api-",l=p+"ixn-";a(d,function(t,e){u[e]=o(p+e,!0,"api")}),u.addPageAction=o(p+"addPageAction",!0),u.setCurrentRouteName=o(p+"routeName",!0),e.exports=newrelic,u.interaction=function(){return(new r).get()};var h=r.prototype={createTracer:function(t,e){var n={},r=this,o="function"==typeof e;return i(l+"tracer",[f.now(),t,n],r),function(){if(c.emit((o? Cnbc Original Documentary "House of Cards" Uncovers the Reasons Behind } return '' Sunday, March 15th 9p ET, This Report WILL change the National Dialog, $14.99/mo. then all the text fades except the words which form the opening title: House of Cards, Sign in to rate and Watchlist for personalized recommendations. If you ever want to understand the mortgage meltdown we experienced a few years ago, this is the documentary to watch!!! 'subtype' : 'section' , Reported by Scott Wapner. The unpaid interest was added to the total amount of the mortgage. mps.scodePath="//fm.cnbc.com/applications/cnbc.com/staticcontent/scripts/omniture/s_code.js?v=1.6.4.1"; Best Rewards Credit Cards. Generalist VC firms will need to make routine assessments of their carbon . 'cag[type_franchise]' : 'CNBC: News Releases' , Get a rare look at the company that hundreds of millions of people touch every day. I caught the second half the this investigative documentary last nite on CNBC, and I finally "see the Big Picture" of how we got in the Mortgage and Banking Mess that we are in right now. Just pure greed and theres no middle class anymore disgusting, Reviewed in the United States on December 18, 2013. , Package Dimensions isEEARegionCheck(); House of Cards documentary CNBC: After reviewing the | Chegg.com Two-hour Documentary Reported by CNBC's David Faber Premieres on CNBC on Thursday, February 12th at 8PM & 12AM ET ENGLEWOOD CLIFFS, N.J., January 27, 2009 - It's the defining story of our time . return true; mps.response.dart.adunits[i].data = '
'; 'pubdate' : '1233619458' , What Are We To Do . mps._adsheld = []; } 'is_content' : '1' , if (typeof window === 'undefined') return; CNBC Originals are the best of the best in non-fiction feature programming, focusing on the business community's biggest stories. James Jacoby is writer and producer of CNBC's "House of Cards." (This content is not subject to review by Daily Kos staff prior to publication. 'hline' : 'CNBC: News Releases' , The bottomline after all this rambling is that House of Cards was a pretty interesting story to watch and I think you'll find it entertaining, angering and educational. Documentary Review: House of Cards. Tim Dennin, attorney for several scammed investors, describes how Mark Hotton moved money between accounts. Subscribe to CNBC Prime: http://cnb.cx/ytAbout C. Reviewed in the United Kingdom on November 16, 2014. The company targeted people who couldn't afford a down payment and had poor credit?so-called "sub-prime borrowers." Top subscription boxes right to your door, 1996-2023, Amazon.com, Inc. or its affiliates, Learn more how customers reviews work on Amazon. if (window.mps) { (function() { mps._queue.adview = mps._queue.adview || []; } 'site' : 'cnbc.com-relaunch' , 'cat' : 'CNBC feeds|CNBC Information and Policies|CNBC: News Releases' , Redirecting. In 2004, in the midst of the housing boom, President George Bush had a chance to do a little bragging in his State of the Union Address. CNBC's Tania Bryer sits down with world renowned director, producer and screenwriter Oliver Stone, and professor of international relations, Joshua Goldstein, to discuss their new documentary . House of Cards will re-air Sunday night at 9 PM ET.Cramer's charitable trust owns Morgan Stanley. typeof mps._gptfirst == "function" && mps._gptfirst(adunit, slotid); This film shows how greed from the banking industry contributed to one of the biggest meltdowns in the housing market. This was CNBC's live blog tracking developments on the war in Ukraine on April 26, 2023. As someone who had researched the subject before seeing this presentation, I was well aware of the fact that this financial disaster went back to the Carter Administration and was pushed through Congress by Cong.Barney Frank, Sen. Chris Dodd and others who believed that everyone had a right to home ownership, even if they could not afford it or worked for it. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. It's the defining story of our time.how the American dream became a nightmare. Find the Credit Card for You. (t&&t instanceof Function&&t.apply&&!t[a])}var o=t("ee"),i=t(22),a="nr@original",s=Object.prototype.hasOwnProperty,c=!1;e.exports=function(t,e){function n(t,e,n,o){function nrWrapper(){var r,a,s,c;try{a=this,r=i(arguments),s="function"==typeof n?n(r,a):n||{}}catch(f){p([f,"",[r,a,o],s])}u(e+"start",[r,a,o],s);try{return c=t.apply(a,r)}catch(d){throw u(e+"err",[r,a,d],s),d}finally{u(e+"end",[r,a,c],s)}}return r(t)?t:(e||(e=""),nrWrapper[a]=t,d(t,nrWrapper),nrWrapper)}function f(t,e,o,i){o||(o="");var a,s,c,f="-"===o.charAt(0);for(c=0;cElectric car sales surged by 55% in 2022 to hit over 10 million: IEA Mayor Karen Kuvaas and Narvik's other town leaders hoped to become "great heroes" by reaping the income from financial ventures they believed were safe. Watch CNBC's 'House of Cards' Thursday Night Published 5:22 PM ET Thu, 12 Feb 2009 Updated 11:43 AM ET Thu, 5 Aug 2010 CNBC.com "Houses of Cards," a CNBC original documentary about the credit crisis, premieres Thursday night at 8 PM and . "true" : "false") + "; expires=" + d.toUTCString() + "; path=/"; if (typeof adunit != "string") return false; var d = new Date(); Sunday, March 15th 9p ET, Here's the official page for the documentary House of Cards, by David Faber - CNBC Anchor and Reporter. Watch House of Cards | Netflix Official Site Full content visible, double tap to read brief content. Reviewed in the United States on January 17, 2014. "CNBC Documentaries" House of Cards (TV Episode 2009) cast and crew credits, including actors, actresses, directors, writers and more. blah blah blah. el.parentNode.insertBefore(s, el); An Emmy, Peabody, and Dupont award winner, David Faber is the anchor and co-producer of CNBC's acclaimed original documentaries as well as a contributor to CNBC's "Squawk on the Street.". const EEA_REGION_COUNTRY_CODES = ['AT', 'BE', 'BG', 'HR', 'CY', 'CZ', 'DK', 'EE', 'FI', 'FR', 'DE', 'GR', 'HU', 'IS', 'IE', 'IT', 'LV', 'LI', 'LT', 'LU', 'MT', 'NL', 'NO', 'PL', 'PT', 'RO', 'SK', 'SI', 'ES', 'SE', 'CH', 'TR', 'GB'];
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