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Inside Job

(DVD - 2011)
Average Rating: 4 stars out of 5.
Inside Job
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Provided is an 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, traces the rise of a rogue industry which has corrupted politics, regulation, and academia.
Published: [Culver City, Calif.] : Sony Pictures Home Entertainment, 2011, c2010.
Branch Call Number: DVD 338.542 INS
Characteristics: 1 videodisc (120 min.) :,sd., col. ;,4 3/4 in.

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Dec 13, 2014
  • Nursebob rated this: 4 stars out of 5.

In 2000 Iceland’s government introduced a series of measures aimed at deregulating and privatizing that tiny country’s financial sector; the results were catastrophic both economically and socially as a once bustling economy accrued a debt almost ten times its gross national product. Using the Icelandic example as a starting point, documentarian Charles Ferguson and his team examine the reasons behind the global economic collapse of 2008. In the wake of the Great Depression the United States enacted measures to prohibit banks from making risky investments with other people’s money, safeguards which helped insure steady economic growth with relatively minor fluctuations in the decades which followed. Enter Ronald Reagan who, along with his successors, removed these barriers thus giving investment bankers and their ilk free rein while at the same time weakening the powers of government overseers---the wolves had effectively been put in charge of the henhouse while the guard dogs sat around muzzled. As in Iceland the results were catastrophic as banks took on bad debts, sold them as junk stock to unwitting investors (certified as AAA investments by insurance agencies who were in on the scam), and raked in billions of dollars annually in incentives, bonuses, and inflated salaries. Furthermore, financial institutions around the world made billions on the side by laundering drug money and bankrolling illegal ventures such as Iran’s nuclear energy program. But an economy based on phantom money is doomed to fail and when the crash came millions were left homeless, pension plans were wiped out, and American taxpayers were left holding the bag to the tune of almost 200 billion dollars in bail-outs. The people who precipitated the collapse however managed to pocket billions more while deftly evading any legal prosecution. Using a variety of talking heads from various disciplines Ferguson’s team presents a sad tale of government collusion, runaway greed, and a sociopathic lack of conscience in the financial sector. The area of the brain which is stimulated by winning money is the same area that lights up with cocaine, explains one counsellor with a large Wall Street clientele, hence we have a group of type-A personalities with addictions to both money and power. Of course we already know Ferguson’s documentary does not have a happy ending as he shows the various ways in which financial puppet masters have not only infiltrated all levels of government but the educational system itself. “For the first time in history...” drones narrator Matt Damon, “...average Americans have less money and are less prosperous than their parents.” Frightening, infuriating, yet ultimately anesthetizing as the sheer scope of this financial obscenity slowly hits home.

Nov 10, 2014
  • thislibrarysucksbad rated this: 4.5 stars out of 5.

Excellent doc about how the American people have complacently stood by while supreme court justices and politicians have sold their government to bankers, brokers, and corporations.

Oct 20, 2014
  • uzebdrumz rated this: 5 stars out of 5.

A thorough explanation or analysis of any major financial crisis would require an understanding of economics, automated algorithm trading, and the interconnected relationship between central banks, investment, & retail banks. This film explains the 2008 credit crisis with unemotional narration, simple graphics, & candid interviews. What we learn from this film is the musical chairs syndrome of personalities that inhabit government departments, universities, central & investment banks. The interviews are most revealing as they morph from broad policy discussions to specific personal relationships with specific companies, rating agencies, banks, or government departments. The resulting tone of the discussion becomes palpably awkward, in the case of Glenn Hubbard, or dismissive, in the case of Martin Feldstein, to name only two examples. The credibility of the participants is further denigrated by Lehman's attorney Harvey Miller when he goes out of his way to indicate that they took "a yellow cab" to one of the meetings; these guys have never taken a cab anywhere - it's limos, helicopters, private jets, & yachts. All the classic defensive postures of body language & expressions are exhibited as the interviews progress toward the implication that these people are essentially responsible for creating the policies that led to the crash, particularly deregulation of financial derivatives & the ratings of financial instruments. Combine the lucrative aspect of market volatility with the incentivization of risk & the concoction is an addictive cycle that repeats until something is destroyed - in this case it was the destruction of housing prices, a few banks & a "requirement" that public money be used to save the financial industry. Nothing has changed.

Jun 04, 2014
  • Kelly196 rated this: 4.5 stars out of 5.

It goes to show you that the inner circle (Wall Street and Government) does exist. Very good documentary covering the financial crash of 2008.

Guys have you heard about "Bilderberg" who runs the world?

JeanieG, did you not get it, in its simplified and step-by-step explanation of the industry's practices leading up to 2008? How about showing the greed? Did you not get this either?
This documentary shows the 2008 meltdown, but moreso, the uselessness of elections (and voting) in a western democracy, because it does not matter the party in power, the politicians are all (including Canada) just puppets for corporations. What real difference has it ever made to any middle-class Canadian if the Liberals or Conservatives have been in power? Anyone have a Ferrari, or are bankrupt because of the party in power, other than the very rich taking advantage of the legislation created for their benefit?

Jan 06, 2014
  • beckythecat1 rated this: 3 stars out of 5.

had seen bits of this on OPB. really out of date now in 2013 but maybe will wake a few people up as to how really snarky our "leaders" are?

Sep 23, 2013
  • JeanieG rated this: 0.5 stars out of 5.

This was a sensationalized documentary that really doesn't explain anything.

Sep 12, 2013
  • chat_noir rated this: 5 stars out of 5.

Amazing documentary .

Aug 18, 2013
  • MT60 rated this: 4.5 stars out of 5.

Some unbelievable facts but totally not surprising. The architects of the house of cards not only escaped unpunished but actually run government policy via their cabinet and advisory positions in all administrations, Republican or Democrat. I suppose that's the way it's alway been through history, just different industries.

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Jan 06, 2014
  • beckythecat1 rated this: 3 stars out of 5.

beckythecat1 thinks this title is suitable for 15 years and over

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Apr 22, 2013
  • sky123 rated this: 4 stars out of 5.

GEORGE SOROS:
Markets are inherently unstable, or at least potentially unstable. An
appropriate metaphor is the oil tankers. They are very big; and therefore, you have to
put in compartments to prevent the sloshing around of oil from capsizing the boat. The design of the boat has to take that into account. And after the, uh, uh, Depression, the regulations actually introduced these very watertight compartments. And
deregulation has led to the end of compartmentalization.

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