Inside Job

Unknown year Economics 25.30K Views 6 Comments
<em>Inside Job</em> provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China.

<em>Inside Job</em> documentary presents an in-depth examination on how the careless actions of Wall Street resulted in almost collapse of the financial industry, that cost more than 20 trillion dollars, that triggered millions of people become jobless and residences in the most severe recession ever since the Great Depression, and pretty much ended in a worldwide financial meltdown. By means of radical study as well as comprehensive interviews with important financial professionals, concerned journalists and politicians, the movie records the growth of a corrupt industry.

As he did with the occupation of Iraq in <em>No End in Sight</em>, Charles Ferguson shines a light on the global financial crisis in <em>Inside Job</em>. Accompanied by narration from Matt Damon, Ferguson begins and ends in Iceland, a flourishing country that gave American-style banking a try--and paid the price. Then he looks at the spectacular rise and cataclysmic fall of deregulation in the United States. Unlike Alex Gibney's fiscal films, <em>Enron: The Smartest Guys in the Room</em> and <em>Casino Jack</em>, Ferguson builds his narrative around dozens of players, interviewing authors, bank managers, government ministers, and even a psychotherapist, who speaks to a culture that encourages Gordon Gekko-like behavior, but the number of those who declined to comment, like Alan Greenspan, is even larger.

Though the director isn't as combative as Michael Moore, he asks tough questions and elicits squirms from several participants, notably former Treasury secretary David McCormick and Columbia dean Glenn Hubbard, George W. Bush's economic adviser. Their reactions are understandable, since the borders between Wall Street, Washington, and the Ivy League dissolved years ago; it's hard to know who to trust when conflicts of interest run rampant. If Ferguson takes Reagan and Bush to task for tax cuts that benefit the wealthy, he criticizes Clinton for encouraging derivatives and Obama for failing to deliver on the promise of reform. And in the category of unlikely heroes: former governor Eliot Spitzer, who fought against fraud as New York's attorney general (he's the subject of Gibney's documentary <em>Client 9</em>).

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  • fmac20 2 years ago

    what role does the president if any plays in all this?


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