Presented with the kind permission of Fox News Channel.
Special thanks to Brian Gaffney.
(In 2008) investment banking titan Bear Stearns, a pillar of Wall Street, collapsed. Hoping to stop a global financial meltdown, the U.S. government brokered a sale of the financial giant and put taxpayers on the hook for billions.
It was the first of many bailouts with price tags escalating from billions to trillions of dollars. But that didn’t stop the crash. In fact, it may have fueled it.
‘Special Report’ host Bret Baier takes you through a behind-the-scenes investigation as FOX News reveals how taxpayers bought up much of Wall Street, while the government took an unprecedented role in the American financial system. This special investigative report has been months in the making.
We’ve tracked the evolution of the bailout in two administrations and have exclusive interviews which include President George W. Bush, his Treasury Secretary Hank Paulson, House Banking Chairman Barney Frank, and Former House Speaker Newt Gingrich among others.