Watch Panic: The Untold Story of the 2008 Financial Crisis

Panic: The Untold Story of the 2008 Financial Crisis is a 2018 documentary film that follows the events leading up to and following the 2008 financial crisis in the United States. The film explores the causes of the crisis and the responses from government officials, financial institutions, and the public. The film features interviews with key players involved in the crisis, including former Congressman Gary Ackerman, former White House Chief Strategist Steve Bannon, and former Federal Reserve Chairman Ben Bernanke. Through their perspectives and insights, the film provides a comprehensive look at the complexities of the financial crisis and the decisions made by those in power.

The film begins with the housing bubble in the early 2000s and the rise of subprime mortgages, which allowed people with poor credit histories to obtain loans for homes they could not afford. The mortgage lenders quickly packaged these subprime mortgages into complex financial instruments known as collateralized debt obligations (CDOs), which were then sold to investors around the world. When home values began to decline and homeowners defaulted on their loans, the CDOs became toxic assets, sending shockwaves throughout the global financial markets.

Panic: The Untold Story of the 2008 Financial Crisis provides a detailed examination of the various responses to the financial crisis, including the Troubled Asset Relief Program (TARP) and the implementation of monetary policies by the Federal Reserve. The film also explores the role of financial institutions, such as Lehman Brothers and AIG, in exacerbating the crisis and the public's reaction to the bailout of these institutions.

Throughout the film, the perspectives of those directly affected by the crisis are also highlighted, including homeowners facing foreclosure and workers whose jobs were impacted by the economic downturn. Their stories provide a human element to the economic crisis and demonstrate the lasting effects it had on individuals and families.

Panic: The Untold Story of the 2008 Financial Crisis is a thought-provoking and illuminating documentary that provides a comprehensive understanding of the causes and consequences of the financial crisis. Through a combination of expert analysis and personal stories, the film highlights the societal and institutional failures that led to the crisis and the need for greater accountability and reform.