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On the Media

The Big Screen version of Boom and Bust

On the Media

WNYC Studios

Magazine, Newspapers, Media, 1st, Advertising, Social Sciences, Studios, Radio, Transparency, Tv, History, Science, News Commentary, Npr, Technology, Amendment, Newspaper, Wnyc, News, Journalism

4.68.7K Ratings

🗓️ 29 September 2021

⏱️ 15 minutes

🧾️ Download transcript

Summary

Boom and bust on the big screen.

Transcript

Click on a timestamp to play from that location

0:00.0

This is On the Media's midweek podcast Extra.

0:02.8

I'm Sasha Pfeiffer sitting in for Brooke Gladstone.

0:06.6

It was 13 years ago this month, September of 2008, when news broke that the Wall Street

0:13.5

investment firm Lehman Brothers had collapsed, setting in motion the financial crisis that devastated

0:19.2

the world's economy.

0:21.6

The Dow tumbled more than 500 points after two pillars of the street tumbled over the weekend.

0:27.6

Such a blow to investors, whether you're a big trader or whether you have a 401k.

0:31.6

The Dow traders are standing there watching an amazement, and I don't blame them.

0:35.6

I have never live looked at the Dow Jones Industrial Board and seen a 600-point loss.

0:40.3

What in the world is happening on Wall Street?

0:42.3

On the 10th anniversary of the collapse, Brooke examined the arc of our attitude toward business and money through the medium of film.

0:50.3

Pear Hanson is a professor of business history at the Copenhagen Business School and the co-author of a new study

0:57.9

Making Sense of Business and Community in Hollywood Films, 1928 to 2016.

1:06.3

Films that sound a little like this.

1:09.1

So a new industry moves into an undeveloped area.

1:11.6

Factories go up, machines are brought in.

1:13.6

A harbor is dug in you in business.

1:15.6

It's purely coincidental, of course, that people who never saw a dime before suddenly have a dollar

1:19.6

and barefooted kids wear shoes and have their teeth fixed in their faces washed.

1:23.6

Greed will not only save Teldar paper, but that other malfunctioning corporation called the USA.

1:30.9

Let me tell you something. There is no nobility in poverty. I have been a rich man and I have been a poor man, and I choose rich every time.

1:43.6

From Charlie Chaplin's modern times in 1936 to the big short in 2015, Hanson sifted

...

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