The project has been slow going because it was first set up with a book co-written by Sorkin’s Times colleague Joe Nocera and Vanity Fair writer Bethany McLean, and they haven’t turned in their manuscript. Peter Gould has been hired to write the drama, and Spring Creek’s Paula Weinstein and Jeffrey Levine are executive producers.

HBO has acquired rights to Too Big to Fail, the bestselling book by New York Times reporter Andrew Sorkin. View a clip of the movie.An HBO movie about the 2008 financial meltdown is finally moving. The cast includes William Hurt, James Wood, Topher Grace, Paul Giamatti, Cynthia Nixon, Billy Crudup and Mathew Modine. Banks are happy to get the bailout, but Paulson himself is unhappy to put more restrictions on how the funds must be used, a strange situation since he works for the Government. He urges Congress to act quickly to avert another 1930’s like economic depression.Ī failed first attempt later Congress passes the Emergency Economic Stabilization Act of 2008. The then FED chairman Ben Barnanke who believes in Congress legislation before any further intervention. The treasury department arranges for a takeover. Paulson turns his attention to AIG, whose fall can cause irreversible losses. Paulson’s machinations as he tries to bail out Lehman, Merrill Lynch lose in the face of the crash and he eventually asks Lehman to declare bankruptcy. A man who moved to Capitol Hill after Wall Street, he is familiar with both worlds. HBO’s Too Big Too Fail shines the spotlight on the financial crisis of 2008. Written in 2010, it was made into a film in 2011.

He opined, “If they are too big to fail, they are too big”.Īndrew Ross Sorkin wrote his book Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System-and Themselves, also known as Too Big to Fail: Inside the Battle to Save Wall Street from the eyes of government regulators and the CEOs on Wall street. Alan Greenspan felt that no firm should be too big to fail. Economists believe that if the TBTF’s feel they will be insulated against pressures of the market they will not self-regulate and resist any outside attempts to do so. Some financial companies are so big and so interconnected that pulling them out of the system would lead to the collapse of the system itself.

Sorkin too big to fail