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House of Cards

The House of Cards

House of Cards
CNBC presents the defining story of our time. Correspondent David Faber investigates the origins of the global economic crisis and the events leading to the most devastating financial collapse since the Great Depression.

"Let's hope we are all wealthy and retired by the time this house of cards falters." — Internal Email, Wall Street, 12/15/06

CNBC presents the definitive report on the defining story of our time. CNBC correspondent David Faber investigates the origins of the global economic crisis, with first person accounts from home buyers, mortgage brokers, investment bankers and investors – most of whom let greed blind them, leading to the greatest financial collapse since the Great Depression.

Web Extras

  • The Federal Reserve / House of Cards     Tuesday, 10 Feb 2009 | 12:00 AM ET

    Former Federal Reserve Chairman Alan Greenspan defends decisions he made that critics say laid the groundwork for the crisis. Greenspan also admits that he was puzzled by the more complex mortgage-backed securities on the market.

  • The Investors / House of Cards     Tuesday, 10 Feb 2009 | 12:00 AM ET

    In a rare interview, CNBC's David Faber speaks with one of the few savvy investors who bet against the mortgage-backed security fever“ Dallas's Kyle Bass - whose hedge fund soared 600 percent in just eighteen months.

  • The Lenders / House of Cards     Tuesday, 10 Feb 2009 | 12:00 AM ET

    Lou Pacific worked for Quick Loan Funding. The company targeted people who couldn't afford a down payment and had poor credit; so-called "sub-prime borrowers." With no shortage of eager borrowers, business was booming and Quick Loan made millions of dollars.

  • The Buyers / House of Cards     Tuesday, 10 Feb 2009 | 12:00 AM ET

    Cynthia Simons craved a better life for her family and wanted to leave the crime-ridden area of Compton, Ca. She thought her prayers were answered by a mortgage broker from her church who found the family a house in a safe neighborhood.

  • Origins of the Financial Crisis Wednesday, 4 Feb 2009 | 12:19 PM ET
    "Let's hope we are all wealthy and retired by the time this house of cards falters."--Internal email, Wall Street, 12/15/06Prophetic words that predicted the greatest financial collapse since the Great Depression. The current global economic collapse has its roots in the sub-prime mortgage crisis.

    The current global economic collapse has its roots in the sub-prime mortgage crisis. Learn more.

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    Check the U.S. schedule for upcoming show times.

 

  • Co-anchor of CNBC's "Squawk on the Street," David Faber also is a co-producer of CNBC's original documentaries.

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