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. Matt Damon narrates a documentary that provides a detailed examination of the elements that led to the collapse and identifies keys financial and political players. Director Charles Ferguson conducts a wide range of interviews and traces the story from the United States to China to Iceland to several other global financial hot spots. Takes a closer look at what brought about the financial meltdown.
Share via Email An aerial view of Wall Street, the heart of the global financial meltdown. Charles Ferguson's film Inside Job attempts to blame a wider cast list for the banking crash of and explains why so little has been done to reform the financial world or bring criminal prosecutions against the main protagonists.
His villainous lineup includes bankers, politicians many of whom were previously bankersregulators, the credit ratings agencies and academics. When Glenn HubbardGeorge Bush's chief economic adviser and dean of Columbia Business School, is shown as a partisan advocate of deregulation, we have one of the movie's punch-the-air moments.
During the interview, Hubbard, who denies he was corrupted by his paid-for relationships with government, angrily barks: Give it your best shot. There are plenty of economists who believed the banks understood what they were doing and supported deregulation.
Whether they took large slugs of cash for writing poorly researched, cheerleading reports on the economic miracle in Iceland pre-crashas former US central banker Frederic Mishkin is found doing, is less clear. Over here, the relationship between academia and business appears to be more arm's length, though London Business School dean Sir Andrew Likierman sits on the Barclays board, while Howard Davieswho argued for light-touch regulation while head of the Financial Services Authority, has become director of the London School of Economics.
The UK's chief villian, however, is probably the disgraced, but largely unpunished, banker Sir Fred Goodwinthe former boss of Royal Bank of Scotland, once the fifth-largest bank in the world.
Summers exemplifies the links between cheerleaders in academia, Wall Street, supine regulators and an ignorant Capitol Hill that Ferguson stresses were at the root of the problem. It helps that Summers looks like a mafia boss, but the difficulties in making the case against him are shown by the need to explain financial products like credit default swaps and how securitisation was used by banks to increase their borrowing.
Still, no matter how much it is explained, the general public is not going to understand.
How does one go into battle yelling slogans about credit default swaps? The bankers know ignorance is their trump card. Maybe Inside Job will make us more savvy in time for the next crash. Phillip Inman The derivatives trader "The film's first half-hour was absolutely dead-on.
The explanation of what happened was a chilling re-run of all the events that led up to the financial crisis. It also showed very accurately the denial by everybody inside or outside the industry that such a crisis was even occurring — even up to the last minute before Lehman's bankruptcy.
I have an issue with some of the elements pursued in the rest of the film. One was the vilification of individual people.
|The Inside Job and reflect upon it, for example give your opinion, give new insights and determine the ethical issues that occurred during the movie. Last week we saw The Company due to this movie I learned the meaning of ethics namely:|
|Share via Email An aerial view of Wall Street, the heart of the global financial meltdown. His villainous lineup includes bankers, politicians many of whom were previously bankersregulators, the credit ratings agencies and academics.|
|Inside Job ( film) - Wikipedia||Synopsis[ edit ] The documentary is split into five parts. It begins by examining how Iceland was highly deregulated in and the privatization of its banks.|
|Summary the inside job - words | Study Guides and Book Summaries||Synopsis[ edit ] The documentary is split into five parts.|
|Inside Job () - Plot Summary - IMDb||Through extensive research and interviews of major journalists, politicians, academics, and financial insiders, the film tries to find out the route causes of this financial crises, the corruption in the financial and political system of US, impact of this corruption on global economies. Five-Parts of the Documentary The documentary has been divided into five parts which are:|
Chuck Princethe CEO of Citigroup at the time of the crisis, may have been overpaid — but I don't think he was particularly at fault. At worst he perhaps should have known more about what was going on, but really he's just the nice old geezer at the top who shakes people's hands at cocktail parties.
There may be people lower down who knowingly did criminal things, but that is a different matter. A weak point was the anti-free market and conspiratorial tone of the film.
Yes, deregulation did go too far — particularly with the repeal of the Glass-Steagall Act ofwhich might have prevented banks gambling with depositors' money.
But to imply that all deregulation in the last 20 years was a conspiracy perpetrated by an academic elite of economists in the pay of the banks is paranoid and absurd.
An oversight by the film was to ignore how risk managers at many banks knowingly failed to voice their fears about the way their companies operated. A risk manager once told me that to raise an issue that undermined the bank's multi-billion-dollar profits would have been to "sign his own death warrant".
This inability to challenge trading desks generating billions in phantom profits was endemic. Inside Job clearly catches some of the anti-banker mood, and the public is quite right to be outraged at how banks refinanced at the taxpayers' expense are paying outsized bonuses. Contemporary Issues In Accounting Inside Job Documentary Film Research of the Financial Crisis in Comparison to the ‘Inside Job’ Documentary The ‘Inside Job’ film (documentary film) draws parallel views to the referenced text “Impact on Accounting” of this course coupled with the associated research executed during the past weeks with .
"Inside Job ignored the enormous level of consumption by ordinary people that drove debt levels so high. The film suggested it was the bankers and the politicians who were driving the collapse – and fair enough, there was some mis-selling of mortgages.
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/5(8). Inside Job clearly catches some of the anti-banker mood, and the public is quite right to be outraged at how banks refinanced at the taxpayers' expense are paying outsized bonuses.
'Inside Job' provides a comprehensive analysis of the global financial crisis of , 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. After watching the Inside Job I have to say that I was a little depressed, it is really unbelievable how some people and institutions can behave in the way they did.
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