WXXI AM News

Connections: The only bank charged in the 2008 financial collapse

May 18, 2017

You've heard of Too Big to Fail, the concept on Wall Street that banks were too massive to be allowed to go under. A new film looks at the opposite. It's called Abacus: Small Enough to Jail, and the man behind it is Steve James of Hoop Dreams fame. James tells the story of the Chinese immigrant Sung family, owners of Abacus Federal Savings in Chinatown. Abacus became the only U.S. bank to face criminal charges in the wake of the 2008 financial collapse. James will be in Rochester on Sunday as the guest of the One Take Film Festival, which is showing both Abacus and Hoop Dreams.

Our guests:

  • Steve James, director of Abacus: Small Enough to Jail
  • Amit Batabyal, professor of economics at RIT