Moyers & Company: Bailouts and Banking Reform (Enhanced DVD)
When the U.S. Federal Treasury was called upon to bailout financial institutions from default in 2008, the (TARP) Troubled Asset Relief Program designed for government purchase equity & assets was mechanized to shore up imminent market disaster. In 2012, Congress authorized the Dodd-Frank Wall Street Reform & Protection Act to reduce the amount of TARP spending from $700 billion to $431 billion in an effort to reduce threat to the national deficit. In Moyers & Company: Bailouts and Banking Reform the economic meltdown following the global financial crisis triggered largely by the mortgage crisis of 2007, set the pace for Securities Exchange Commission (SEC) reform, as well as new rules of compliance in banking and investment institution regulation.
In this episode of Moyers & Company, Bill Moyers and finance analyst, Neil Barofsky, look at TARP oversight and the outcome to perilous circumstances that prompted the U.S. Federal Reserve quantitative easing policies to issue "cheap money" to buffer the country from impending disaster. Barofsky introduces viewers to the critical shift in governing institutions and the demand for new rules in securities exchange and banking practice needed to mitigate risk of another near default of the country’s major financial institutions. Broadcast date: October 26, 2012. (28 minutes)