The bets were huge and risky, billions of dollars on the housing market. Superbanks reaped billions of dollars, and gobbled up competitors. Then the bottom dropped out, massive losses on Wall Street nearly broke the banks and many are on the brink of failure. As the federal government contemplates what could become a massive nationalization of the industry, watch as FRONTLINE tells the inside story.

Actors:

Joe Biden,Maria Bartiromo,Judy Biggert,Michael E. Capuano,John Cassidy,Susanne Craig

Description:

The bets were huge and risky: billions of dollars on the housing market. The upside was undeniable: Superbanks reaped billions of dollars, dominated the landscape and gobbled up competitors. Then, the bottom dropped out - the massive losses on Wall Street nearly broke the banks. In the worst crisis in decades, brand-name banks found themselves on the brink of failure. As the federal government contemplates what could become a massive nationalization of the industry, FRONTLINE goes behind closed doors to tell the inside story of how things went so wrong so fast and to document efforts to stabilize the industry. Veteran FRONTLINE producer Michael Kirk (Inside the Meltdown) untangles the complicated financial and political web threatening one superbank in particular, Bank of America.