Summary

This FRONTLINE episode examines the 2008 financial meltdown, focusing on the collapse of Bear Stearns due to its investments in subprime mortgages and complex financial instruments like credit default swaps. Key figures like Timothy Geithner navigated the crisis, realizing Bear's systemic risk meant it was "too big to fail." The takeaway is that regulators' deregulation and lack of oversight allowed complex, opaque financial products to create a fragile system, highlighting the dangers of unchecked financial innovation and insufficient transparency.