Watch Too Big to Fail Movie Online
Published 02 26, 2015
Year : 2011
Release date : 23 May 2011
Director : Curtis Hanson,
Writers: Peter Gould, Andrew Ross Sorkin,
Stars: James Woods, John Heard, William Hurt, Erin Dilly, Amy Carlson,
Time: 99 min.
Keywords: Watch Too Big to Fail Movie Online
Too Big to Fail Movie Online
Too Big to Fail chronicles the 2008 financial meltdown, focusing on the actions of U.S. Treasury Secretary Henry Paulson (William Hurt) to contain the problems during the period of August 2008 to October 13, 2008. Dick Fuld (James Woods), CEO of Lehman Brothers, is seeking external investment, but investors are wary as Lehman is seriously exposed to toxic housing assets and the Treasury is ideologically opposed to offering any sort of bailout as it did for Bear Stearns. Paulson attempts to arrange a private solution to the Lehman problem, and both Bank of America and Barclays express interest in Lehman's good assets. Bank of America instead chooses to purchase Merrill Lynch. Barclays is prepared to accept the terms of the merger, but British banking regulators refuse to approve the deal. Paulson directs Fuld to declare bankruptcy before the market opens. The initial reaction on Wall Street is favorable, as is the political reaction. However, Paulson quickly learns that Lehman's counterparty risk is impacting the entire financial market, and that the stock market is in freefall. Paulson receives a call from Jeffrey Immelt (Tom Tammi) of General Electric, who tells him that GE is unable to finance its daily operations. Paulson realizes the crisis has spread to Main Street. Another crisis arises as multinational insurance corporation AIG begins to collapse. Paulson's team realizes that if AIG is allowed to fail, its insurance portfolio will default and the entire financial industry will suffer catastrophic losses. The Treasury takes over AIG. Ben Bernanke (Paul Giamatti), Chairman of the Federal Reserve System, argues that the status quo is unsustainable and that the Congress must pass legislation to authorize any continued intervention by the Fed or the Treasury. With the availability of credit drying up, Paulson's plan is to buy the toxic assets from the banks to take the risk off of their books and to increase their available cash reserves. Direct capital injection is considered and rejected. Timothy Geithner (Billy Crudup), President of the Federal Reserve Bank of New York, realizes that the market cannot wait for Congressional action. He attempts to arrange mergers between consumer banks and investment banks in order to allow the investment banks access to the Federal Reserve's discount window, but this proves untenable. Bernanke and Paulson lobby Congress, with Bernanke emphasizing that a lack of credit helped make the Wall Street Crash of 1929 into the Great Depression, and that if Congress fails to act, the fallout this time will be far worse.