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 An inside look at how some of Wall Street's most prestigious firms manipulated the hot IPO market of the late 1990s.  How the corporate watchdogs -- above all, the accountants -- failed to prevent Enron and other scandals from happening. |
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How one company, WorldCom, and its bankers at Citigroup, came to epitomize the conflicts of interest at the heart of the late-90s bubble. |
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Hedrick Smith on Eliot Spitzer's reforms - and what they don't fix. Plus, a look at the settlement and how investors can claim their share. |
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The politics and the impact of Sandy Weill's creation of Citigroup, and the repeal of the Glass-Steagall Act that stood in his way. |
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Eliot Spitzer, Arthur Levitt, Alan Blinder, Charles Geisst, and others. |
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Funding for FRONTLINE is provided through the support of PBS viewers. Additional funding for "The Wall Street Fix" was provided by The Schumann Center for Media and Democracy, The Nathan Cummings Foundation, The Consumer Trusts Fund, Gilliland Family Fund, Paul Newman, Bernard Rapoport, The Brightman Hill Foundation, and Edson W. Spencer. |
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FRONTLINE » wgbh » pbsi
The Wall Street Fix
With the nation's biggest banks about to finalize a record $1.4 billion settlement for securities violations, FRONTLINE investigates what New York Attorney General Eliot Spitzer calls Wall Street's "corrupt business model" that cost American investors trillions. Tracing the stunning rise and fall of WorldCom, the hottest stock and then biggest bankruptcy of the 1990s, correspondent Hedrick Smith uncovers the hidden ties that enabled superbanks and Wall Street insiders to shape and profit from the telecom boom while leaving ordinary investors holding worthless stock when the bubble burst.
published may 8, 2003 web site copyright 1995-2014 WGBH educational foundation |
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