If you haven’t seen the HBO show Too Big to Fail, don’t bother. It isn’t entertaining and it is biased. Henry Paulson is the lead character. They manage to make Bernanke, Paulson, Barney Frank and Pelosi look like good guys.
They didn’t even make the business guys look too evil. The whole inference was that the problems in the banking sector and on Wall Street was because there wasn’t enough government regulations, and that they saved us from something far worse.
The government didn’t solve these problems. They just postponed the day of reckoning. That is the real lesson, and they haven’t learned it. Maybe HBO will make a new movie in a few years once everyone realizes this.
There was no discussion of interest rates in the movie. There was no blame on Bernanke or Fannie or Freddie. The most accurate part of the movie was when someone whispered in Paulson’s ear that he wanted to get bailed out because he was holding a lot of bonds.