This program explains how the U.S. subprime market grew from the post-9/11 rise of easy credit, which was then exploited by predatory lenders; subsequent widespread defaults and foreclosures; the attendant market correction; and the resulting threat of recession. Yale University's Robert Schiller; BusinessWeek's Matthew Goldstein; Nouriel Roubini, of the Stern School of Business; JPMorgan's Bruce Kasman; and Satyajit Das-an expert on hedge funds and credit markets and an adviser to banks around the world-give their views, along with everyday people who, trapped in the mortgage meltdown, have lost their homes. It's said that when the U.S. sneezes, the rest of the world gets a cold. Will America's unfolding subprime mortgage crisis prove the truth of that adage?
Home Foreclosures (3:52) -- Rising Home Prices: Based on Delusion (2:57) -- The Role of 9/11 in Housing Boom and Bust (4:40) -- ARM Loan: Ticking Time Bomb (2:56) -- Foreclosures and Auctions (2:50) -- Global Investors in American Markets (3:09) -- Origins of Financial Crisis: Hedge Funds (3:02) -- Financial Crisis: Diffused Risk (3:25) -- Sub-Prime Loans (3:22) -- Sub-Prime Loans: American Capitalism at its Worst (3:39) -- Sub-Prime Loans: Ruination of Cities and Neighborhoods (3:02) -- America's Spending Spree (2:22) -- Long Term Trends in Housing Prices (2:23)