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Inside Job

In the past I’ve recommended books on the foreclosure crisis such as Michael Lewis’s The Big Short. Last night I finally got to see “Inside Job”, the film that won the Academy Award this year for best documentary. It methodically lays out how the problem developed, the nature of the crisis and the response by both government and Wall Street.

‘Inside Job’ 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’s interesting that public employees are being blamed for the money woes in this country when the entire financial crisis was Robin Hood in reverse, steal from the poor (or middle class), and give to the rich.  I encourage everyone to rent the DVD of this film so we keep our focus on the people and systems that brought this all about.  If we don’t, we will find ourselves in the same situation in the future. Charles Ferguson, the director, said, when accepting the Academy Award, that none of the people in the film have been indicted and no one’s gone to prison.  After watching the movie, you’re going to ask “why not ?”

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  1. April 12th, 2011 at 08:59 | #1

    I viewed this film several weeks ago on DVD with my wife. Having listened to a lot of NPR, MPR and other coverage, interviews, and read many articles on the foreclosure crisis, I thought I would have a pretty good understanding.

    I have had hundreds of foreclosed properties in my city, and continue to. Our city has recently passed a vacant building registration ordinance in response.

    After watching this film I realized the abuses that occurred in business and government response to these abuses were extensive. My wife, an ordinary citizen, was preaching revolution, not generally her style! I highly recommend the film!

  2. Mick @ VP
    May 27th, 2011 at 14:32 | #2

    Saw the film last night and it was eye openning stuff. ALL of these people should be in prison.

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