Inside Job

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  • 03-10-2012, 09:14 AM
    Feanor
    Inside Job
    I finally got around to viewing this 2010 film, Inside Job, written & directed by Charles Ferguson. It's about causes of the 2008 financial collapse and how very little was done, (nor yet done), to alleviate those causes. 4.5/5 stars

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    The main thrust of the Inside Job is how various players who caused or permitted the financial collapse are still very much unpunished and generally very much in control.

    In particular Inside Job emphasises the "revolving door" amoung the financial industry itself, regulators such as the Federal Reserve and the SEC, academia, government officials and Presidential advisors. Basically there is no real independant appraisal, direction, or even advice pertaining to the finance industry.

    Least know to me before viewing this flick perhaps was the influence of the industry on supposedly independent academics that is exercised via "research" funding, consulting fees, and speaking fees.

    Lot of big players refused to be interviewed for this film. Contemptibly, several of those who were interviewed, expressed regret or even anger when the interviewer held their feet to the fire.

    In the last 30 years, the era of unprecidented financial deregulation, has seen the explosive grow finance as an ecomomic sector in the USA. and the even more explosive growth of compensation to the industry's managers and analysts. But the scariest growth has been influence of finance on goverment and regulatory agencies through "revolving door", lobbying, and campaign contributions.

    Unfortunately Inside Job doesn't suggest a plan to restore an appropriate regulations and protections that the will protect citizens from the reckless risk-taking and greed of big finance.