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Inside Job is a documentary that encompasses everything we would need to know about what exactly happened in the Financial Crisis, which we are still facing today. This film which is directed by Charles H. Ferguson describes the corruption and greed by many of the most famous Financial companies we know of. There are five parts to the film which talk about “How we got here”, “The Bubble”, “The Crisis”, “Accountability” and “Where we are now.”
Part I was called “How we got Here”. This essentially talked about what events led up to this massive financial crisis. The American financial sector was regulated from 1940 to about 1980. There were two major crisis right after deregulation started. First was the Savings and Loan crisis which affected taxpayers, because they were the ones paying for the crisis. Then the invention of derivatives became quite popular. Causing Investors to make money, but also making the market very unreliable and unstable. Also, in 2001, there was a crisis better known as the “Internet Stock Bubble.” This occurred due to the fact that Investment banks purposely invested and promoted Internet companies which they knew that would fail. At the end of it all there were giant firms that had formed, instead of having smaller more personalized Investment banks. The main names that were included in this were Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch and Bear Stearns. AIG was also a big name in securitized insurance companies and there were three main credit rating agencies, better known as Moody's, Standard & Poor and Fitch. There was even more instability with the creating of CDO's (Collateralized Debt Obligations). Investors were lending out to people who they knew couldn't afford to buy a certain home or pay the mortgage.
I believe that anyone watching just part I of this documentary can make the assumption that we were going downhill with all these unstable inventions that were supposed to bring in more.
How do you miss the elephant in the room?
How do you do a film on what caused the 2nd Great Depression and not point a finger at the Federal Reserve, a group of the biggest banks you've all heard of by their various names? How do you not point to government policies encouraging loaning money to people who you'd know, if you actually LOOKED at their finances, couldn't pay when times got tough? How do you not point to the roles of Fannie Mae and Freddie Mac in the failures? How do you take the words of criminals such as Eliot Spitzer and Barney Frank, the latter who obviously manipulated much of this? This film smelled of an immature and deliberately limited approach of "greed is bad," complete with hookers and blow.
This failed to show how government manipulation made problems WORSE, and instead tried to blame everything on "deregulation." The editing was also very sneaky. At several points, the interviewer of people who were admittedly thugs asked a question or made a snide comment, then the interview was cut away from, so that the response, if any, was skipped. I agree that said thugs were contributors to the problem, but the aim seemed to be to pretend that they were the whole problem, and deregulation was the cure. To pitch that is to ignore all the government-sponsored rip-offs that occurred between 1933 and 1980 (for more complete info, read Joe Plummer's "Dishonest Money.")
Frankly, I agree with 80% of what this film had to say. Unfortunately, it misses or ignores the most important 20% I've tried to address above, and uses some fairly typical anti-market propaganda to cloak the obvious truth: the government hand washes the bankers' hand, and the bankers' hand washes the government hand. This is the REAL story of the failure of republic.
You cannot expect governments to protect you from the "evil bankers." The government will coddle them and help them screw you every time. The only chance you have against the "evil bankers" is a truly free market, in which those bankers cannot use the violence of the state to manipulate you. It's no accident that the two great depressions, all the greatest wars and violence, and the blessings of modernity stolen from us have all happened since the institution of the US Federal Reserve system. THAT is the real story. Review
Leftist Lies and Propaganda
What do you get when you cross george soros, barney frank, and matt damon? Two hours of propaganda. When discussing the financial crisis, if fannie mae and freddie mac are bit players in your story then you are stacking the cards unfairly, and that's what happened here. there was so much biased garbage that i can't even see straight but george soros shared at least one untruth that i remember. Other than that, this is either the gospel for progressives, socialists, and communists, or masochistic porno for right-wingers and the logic-minded. Review
This "documentary" protects the guilty
Watcher beware. This movie is a diservice to all Americans. The intent of this movie is to mislead you into blaming the wrong people. There is no mention of the real culprits. Fannie Mae and Freddie Mac, Alan Greenspan and Ben Bernake are resposible for the housing crisis.
...the movie is misleading because it never explains the cause of all the abuse and fraud.
...it portrays the collapse as a result of too much greed and not enough regulation. When nothing could be further from the truth. The housing bubble is a function of government getting their hands into the free market and distorting it. If the movie doesn't say that, then their message is aimed at misleading you. This movie is just going to make the problem worse.
Read "Crash Proof 2.0" by Peter Schiff. it was written before the housing crisis and predicted it with great detail. It even included the bankruptcy of GM. He knew the crisis was coming because he understands money and the roll of the federal reserve. Other economists also saw it coming, most were Austrian economists. They understand the boom and bust cycle. Review
Political Propaganda Masquerading as a Serious Documentary
"Inside Job" whitewashes the role of government-sponsored Fannie Mae and Freddie Mac in the financial debacle.
"The financial system corrupted our political system," actor Matt Damon narrates at the end of the film, "and plunged the world economy into crisis." "In fact, the movie has it exactly backwards."
Reviews have neglected to mention the filmmaker's political activism. Ferguson, who in fact is not a journalist and contributed more than $220,000 to the Democratic Party and Democrat candidates. This film is political propaganda masquerading as a serious documentary. 100% biased.
One ends up with the impression that it could have all been prevented had we listened to Barney Frank! I feel sorry for the many people for whom this "documentary" will the only view they have on what happened. It makes this a "predatory documentary". Review
Just what exactly is meant about "Inside", eh?
...a piece of propaganda that Goebbels himself would have been proud of. I watched open mouthed as the political bias of the makers was laid bare for all to see, they must really think we are moronic. Review
It's no accident that the two great depressions, all the greatest wars and violence, and the blessings of modernity stolen from us have all happened since the institution of the US Federal Reserve system.
Originally posted by Dodger13
Yeah its a well made documentary but like the posters have said above, they failed to look at the root cause of the problem which is the fed and how the money is made. Here's another documentary on banking, this time looking at the UK banking system, but covers central banks and how they work and what needs to be done.
Check it out - 97 % Owned