CNBC's "House Of Cards" Tumbles

You don’t want to miss a very informative and well-produced documentary that is scheduled to air on February 25th at 5:00 p.m. and again on March 1st at 9:00 p.m., on CNBC, called House of Cards. (Check your CNBC TV listings, to make sure.)

In this piece, award-winning anchor/reporter David Faber takes the public into the back rooms of lending institutions and Wall Street firms that created, through unscrupulous and unprecedented loan-making and credit forgery, the economic collapse we’re now experiencing.

According to TV reporter Ray Richmond, this is a “balanced, clear-eyed approach to chronicle a tale of greed and deception unprecedented in American history.”

It has a horror-film feel to it and brings the demons of our descent into the light: the bait-and-switch tactics, the snake-oil salesmen, the blind denial of the “experts” all put on public display.

Faber also conducts probing interviews of several people who had a hand in the making of sub-prime massed loans, creators of forged credit documents, and public officials who were unable to stop it all.

This is a maddening account of how the snowball became a ticking time bomb and why no one listened to the council of the wise about what was coming.

Watch this program, but have a glass of wine ready - maybe a whole bottle. Unfortunately it’s true that we need to absorb cautionary accounts like this for “those who cannot remember the past are condemned to repeat it.” George Santayana