The documentary 'Inside Job' discusses the 2008 financial crisis. The end of part 2 (12'52'') and the begining of part 3 expain how the new mortgage system was a time bomb...
part 2/8 http://www.youtube.com/watch?v=kfU1H4q5lT8&feature=related
part 3/8 - http://www.youtube.com/watch?v=uCPjGIW8_Bc&feature=related
Video: PBS Frontline - The Warning
"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?" (more »)
Read more: http://www.pbs.org/wgbh/pages/frontline/warning/view/?autoplay#ixzz1Q3TAXuXF