The movie Inside Job, brings light to what really is going behind the scenes of our government. I feel like I’m watching a modern day feudal system where the royalty or in this case the one percent can bend laws or change them to fit their needs. Rules and regulations that make our economy stable is thrown out the door if it means buying a CEO a new fleet of personal airplanes. With some companies that are behind major politician to control them in doing what they want to do. It almost seems like are presidents, republican or democrat are just puppets controlled by the rich giving everyone else a false hope they actually have an influence in our country sadly we don’t. -Joshua Zidek
The film presents a shocking inside look into an industry that most have little understanding of but it's done well enough to make anyone angry enough about the denials by the financial institutions, but also the constant recycling of people with the industry and government departments that brings about a never changing cycle of behaviour. More shocking is the fact that some of these CEO's and other bigwigs not only got away with financial murder but they were and many still are paid handsomely with bonus's being handed out.
What I appreciate about this film is the range of people actually speaking. I've heard of maybe one or two people actually sharing their opinion on how the financial crisis came to exist. It is clear to see here who is actually in charge of politics and that is those who have tthe cash to influence. Just as the readings we have done, it is evident that those with money have power and power matters when you are in control. Not surprising enough, bank supervisors continued to make money even up to the point of crisis, because of their power. being able to control how things go is an easy way to make sure things always go your way, no matter the circumstances for everyone else.
The documentary opens by sharing the financial woes of a once stable Iceland. The narrator and commentators tell the viewers that Iceland’s banks have borrowed over 1 billion dollars. My immediate response is how can you borrow that much money? Where does it all come from? The documentary goes on to highlight the lifestyles of those who have made a large amount of money and how they spend this money on prostitutes and private airplanes. The movie continues to use words such as government, private, checks, and regulations. A private therapist tells of the stress and lack of conscience of these people. While these people live with no regards to laws and how other people are living the government is not protecting its citizens. Instead the government chooses to just writing checks. And yet the movie shows that nothing comes without consequence. When you are pumping out more loans and the money is unregulated things will get messy. I think that we need to better understand where the movie that we are using is coming from and how we handle it. The movie, Inside Job shows the harrowing task that the American government has in front of them- helping pay off the crippling debt.
I’m really glad we got to watch this film. The blatant disregard for the 99%’s money and economic well-being, here in the U.S. and globally, by the financial service industry and the government is unbelievable. It really emphasizes that money doesn’t lie and how greedy people are behind closed doors. This film also made me think of G. William Domhoof’s, Who Rules America? Power, Politics & Social Change, and how the power elite dominate and control our society and our society’s institutions. They not only contributed to the implosion of the economy but also controlled the deregulation of the system, consulted to the banks and investment films after the fact, consulted and lobbied with government officials; serve as academic professors and presidents, and on and on. All of these people have these extensive resumes that keep them in the system so they can continue to make money, all because they have the same social circles and because they make their ‘friends’ and collaborative others more money. I’d think it would be even more interesting to continue this economic investigation and look into the relationships of lobbyist and government officials.
Inside Job shows how vulture capitalism has come to dominate our economic system. We see that the issue of deregulation came to be because of both Democratic and Republican administrations. An example of this is the repeal of the Glass-Steagal Act by Clinton. Oddly enough, the bill was signed by the FDR, who was in the same party as Clinton is. We also see how society did not learn from their mistakes in the 1980's and paid an even greater price during the Great Recession. Unfortunately, we have not learned our lessons this time. Wall Street regulations, though stronger than before the recession, are still weak seeing the market still engages in the same disruptive processes. One of the reasons why the regulations were weak was because of the financial sector's dominance over American politics. Indeed, the Barney Frank, who co-authored the financial regulatory bill, has received millions of dollars of political donations by the banks he is trying to regulate.
I have seen this movie a few times. It always strikes me as shocking how hedonistic this group is. Despite this, the federal government has left Americans wanting with reactive and proactive measures to make sure this never happens again.
While watching this film, I experienced a mix of emotions. This film shines light on the serious problems our nation is facing and it is extremely eye opening. It also illustrates the corruption within the government and how these financial entities run the United States. Larry Summers was a name repeated throughout the film. They mentioned his involvement during Bush’s administration and how his involvement affected our economy. Later on Summers was in a photograph with president Obama. This was shocking to me, knowing how much damage his involvement had cause to the United States’ economy, amongst other individuals, they continue to be “trusted” individuals. This displays the lack of power governmental officials have and the enormous amount of power individuals like Larry Summers attain. It is unfortunate that our government allows such actions from these entities, if they weren’t allowed or if these individuals were actually prosecuted properly, the economic problems we are facing would not be as bad as they are today.
Inside Job is a film that shows what seems to be the untold or little know story about the 2008 economic crisis. What most people know is that the banks failed and because of that a domino effect of economic destruction ensued. But the film highlights the causes, the perpetrators, and a good amount of the story. I was absolutely stunned by the how reckless and despicable the people who were involved were. I didn't know that there were professors who were working as consultants for large companies like AIG. It's astonishing how all o this was taking place right under our noses and it took the crash of the market for it to come to light an even then, as the film points out, those responsible were not persecuted for what I and I'm sure many believe is a great injustice to the many who lost so much.
Alan Greenspan, executives of Goldman Sachs, Bear Stearns and Lehman Brothers are of the notable/infamous figures mentioned in the film. The dealings that went on between bankers and companies cost hundreds of billions of dollars. And credit companies aiding them in their misdoings just added fuel to the fire.
The film again, brings to light many of the facts that were mostly likely unknown to many. What it also does, is show how you can commit one of the worst crimes and still get away with the "goods" and without any real punishment.
I feel that this was a great movie to watch because it opens us up to the insight of what’s going on in our government how capitalism has dominated our economic system. The movie shows how the power elite control our society institutions and what it comes down to is have power. In order to have power means that you have to have money and property to gain that power or that status which is not a surprise. This movie really brings to light how this a major concern in society today in terms of the corruption that’s taken place within our government and how the US is run by these financial entities that really grasped my attention.
I thoroughly enjoyed this movie and thought it was a great piece of the class. A lot of focus is placed on readings when it comes to topics like this. Inside job for me gave the class an opportunity to experience the topic in another form. The finance world is out of control and is seemingly dangerous to all of America. Inside job definitely did a great job of being to the forefront all of the corruption.
I enjoyed the movie quite a lot. I thought it was very informative in regard to some of the corruption that takes place in big businesses. It also gave a good look inside what cause the housing market to crash. Before I had seen this I had some idea what went on but it was nice to get the specifics of what happened. That and who doesn't enjoy watching the people who cause all that to get flustered and angry when called out on their BS.
“Inside Job” was a very well done documentary about the financial collapse in 2008. A major theme that struck me was the direct relationship between deregulation and the collapse itself. While some deregulation is good for the economy, as the lassiez-faire approach helps to stimulate the economy and grow GDP, deregulation also results in a lot of risk taking, and too much risk-taking lead to the collapse in 2008. It wasn’t that bankers were trying to make shoddy investments, but they felt that because the government was not monitoring them, they could simply do what they pleased. Bernie Madoff ended up stealing $20 billion from investors in an elaborate Ponzi scheme that would never have happened if deregulation wasn’t as prevalent.
I thought this movie was good. I have been wanting to understand the 2008 financial crisis but when I try to read about it I get overwhelmed and confused with the terms used. I could only understand as far as "there was a housing bubble." This movie helped me to understand a lot more about the events and people that contributed to the financial crisis. I am not rich and have never been rich but the amount of greed that we see in this movie is astonishing. Furthermore, I struggle so much with the connection between deregulation and the advancement of fucked up shit that happens in the finance industry. It blows my mind because if we see that deregulation is correlated with suspicious activity in the finance industry (i.e. empty subprime loans, recklessly giving loans), then why do we continue to do deregulate? It is so hard for me to get that through my head and we can see the ways major players in the finance industry took advantage of deregulation to steal millions and Billions of dollars. Anyways, I think this movie did good at explaining complex financial things.
I really like this movie because I feel like it sheds a lot of light on the finiancial crisis of 2008 and its really interesting to see the behind the scenes of it rather then just read about it. I watched this movie in high school but it was beneficial to watch it again with the context of this class. I felt like after taking this class I had a lot more of the thinking tools that I needed to get a lot from the movie. I just think its so ridiculous that everything that happened leading up to the finical crisis happened and no one was able to do anything to stop it when it was so obviously a problem. - Ana Kyriakos
I enjoyed this documentary because it really explained how a government so cherished and admired by the world, could allow for such catastrophe. I'm sure some people thought that our government was not aware of what was going on when in fact our government is the one who allowed for such malicious behavior. Documentaries like this always shed light on who really runs America and time and time again, it shows that those people are never looking out for the best interest of THE people. Time and time again, people find loopholes around the system to get away with scams that make them richer and others poorer. These corporation are not salient organizations and that was a big take away from me. Often, people explain inequality in specific subjects but I liked this documentary because it explained how Wall Street affected me and I never made an investment. How the actions of people with power and money can affect a whole country's economic system is complex and in eighth grade, I wouldn't have been able to understand how or why.
Whenever I would read about financial situations or crisis, I would not know how to feel about it because I was unable to interpret the language they were using to describe the situation. I am glad that I was able to watch the movie because it helped "break down" or simplify the financial situations that occur in the United States. The movie helps to clarify or bring to light how the government really is behind closed doors and how small businesses run. I was surprised when I was watching this movie because I never thought that the government and these big businesses could corrupt consumers without us even knowing. Like the anonymous commenter above me stated, documentaries always show who really controls America and it is clear to see that those who control this country are the rich and corrupted people.
This movie highlights a lot of the issues with our financial system before the 2008 crash and still today. With deregulation at all time highs and the richest percent of our population on the rise, we have some of the highest levels on inequality since before the Great Depression. The crash we saw in 2008 was a milder form of the Great Depression crash but if changes aren't made we could be on our way to yet another. I was mostly appalled by the men who took advantage of our system and were responsible for aiding the crash and taking down our system for personal benefit. Unfortunately that is what our system allows for.
I really liked this movie because like many other people who commented, I never really understood the whole 'financial crisis' thing. Even though I was 13 at the time, I wasn't really exposed to the world like I am today. There is a point they make about how when it comes to the stock managers and 'what they said publicly, is quite different from what they said privately'. I completely agree with this because they are just like any other company and if the public knew what they REALLY did, we wouldn't want to be associated with them anymore. Like in the Koch Industries add with the daily show, his commercial showed how they really are and that is rarely portrayed in todays society.
Abby, I agree with you it does show how they really are. It feels like that they are a classic wolf in sheep’s clothing. They betray themselves to the public one way to try and persuade you that their cause is good but in fact it is really bad. The people need to look more into companies nationwide to expose the truths about them. -Joshua Zidek
I totally agree. It is just so difficult to take the power away from these companies. Take McDonalds for example. We all know they are serving potentially deadly food but they also are the biggest sponsor for the olympic games. Their is no was to get rid of McDonalds because than you loss a lot of finical support for the olympics.
The movie gave me a real insight into what events lead to the cause of the economic crisis. It should in part the effects of globalization. The world is so connected that a crisis in one country can spread like a wildfire to several others. Also how much power big cooperation’s have; they can influence policy with reports, and even lie (giving high ratings) and be rewarded for it.
I personally enjoyed watching these big business leaders confronted on the situation of the financial crisis. I felt as though many were embarrassed because the companies they were involved in were clearly guilty of some sort involvement. Many attempted to loosely answer questions without digging themselves in a whole. It kind of says a lot about these companies in the sense that all these companies try to play "sneaky" and will always have the power to loosely answer to the consequences without costing the company much suffering. There needs to be a change.
Hearing about the chain from home mortgages to lenders to investment banks and the irresponsible actions they took is infuriating. How lenders would give loans to anyone because they were no longer at risk for losing money and how investment banks paid off rating companies to give high ratings to CDOs. It's insane that people can just sit by and turn a blind eye as long as they 1) are making a profit 2) are not held responsible if the loans failed or the CDOs failed after being given a high rating. What a crazy world.
This was an interesting film to watch. Inside Job exemplifies how corrupt our country is. The financial industry basically robbed taxpayers in the 1980's when it was deregulated. Bank's borrowed money for way more than they were worth and when the CDOs collapsed, they were left in so much debt that the financial system became paralyzed. This was devastating for a lot of people, but somehow executives (that caused the crisis) were untouched. The film was good because it made you feel just how imbalanced the USA and financial institution is.
The Inside Job is a great documentary on the U.S economic crisis and how top financial officials basically do not care about normal investors. The film is split into five parts that each detail how we got to the financial situation are currently to who the key players are. The overarching message one can take away from the film is the fact that the US current economic crisis is a complicated situation in which many people played a part. Though this film focuses on big companies and their role, it is important to note that other people and factors occurred. Great film overall.
I loved the documentary beaus it really displayed how the financial crisis came about. It details the role greed played in the crisis and how people who are financially wealthy will nt have to face jail time for their crime. Some people say that it is a flaw in the system but I feel as though it is a flaw in a person. If you know your greed can affect others and you still don't care then that is a problem.
The funny thing about these banking CEO's is that after the 2008 crisis, and to this day, no one member has been indicted or charged with any crime, these financial companies have only been fined, and in many cases, a lot of them received levies for helping the fed get back on its feet. The financial system is obviously rigged, and with the continuance of unlimited funding towards campaign elections, it won't be over any time soon -Crash
This documentary does a really good job of covering major points that we learned in class. The idea that the rich are using their power and position to maintain their economic stability. They way politicians are so heavily influenced by the elite is quite disturbing and I'm glad this documentary goes behind the scenes as to what really happens so the rest of the world can gain inside on the financial crisis and current economic crisis.
I find it quite interesting that in light of the many financial crises that have occurred in our country (i.e., the Housing Crisis, Recession of 2008), that many of the wealthy perpetrators were not charged, and even to this day, continue to profit from our losses in the economy. Unless the government tightens regulation of financial happenings within this country, these things will continue to happen.
The film is one of the best because I personally had to do a monologue of the being. More shocking is the fact that some of these CEO's and other higher people get away with financial murder but they were and many still are paid handsomely with bonus's being handed out. The idea that the rich are using their power and position to maintain their economic stability. They way politicians are so heavily influenced by the elite is quite disturbing and I'm glad this documentary goes behind the scenes as to what really happens so the rest of the world can gain inside on the financial crisis and current economic crisis. Pierre Bolden
With anything that matter, you will find people trying to rebel against the system. This video highlights how corruption in our Government inadvertently affects our country. We are in a time where technology is changing everyday, and with that comes people who try to beat the system. If a company is corrupt at the top, it will surely trickle down.
Wow, this film was powerful. The financial crisis that took place during the 2000's is a topic that I knew of and had some knowledge of, but didn't totally understand (and i still don't). But there was clearly a lot of intentional wrong doing by those in power to increase their wealth while decimating the middle and lower classes investments. They essentially played casino with the future of the American economy and lost big, and we are still recovering from it. I was disappointed as fan of Obama to be reminded that the steps he took early on in the financial crisis didn't punish those who were most responsible for it. Also, those who were responsible most definitely belong in jail for the risk they put our country at. While our countries recovery has been slow but recovery none-the-less, the lack of consequences for those who caused the recession is upsetting.
I find this film very important in provoking further thought into how the system operates, and how we should not just take everything associated with the economy or the government at face value. Many things affect the state of the economy, especially the greed of high ranking personnel heading big companies in industries that don't come under harsh scrutiny and face the consequences for affecting the people of the public the way they do. - Maulford Smith
This film is groundbreaking in my opinion because it shed light on how the changes in the policy environment and banking practices helped create the financial crisis. It provides real-life background information that helps us citizens truly see how the financial crisis came about and why it was so devastating to our nation. The fact that it was split into 5 parts was important because it allowed the audience to see step by step what caused this giant problem to occur and the film finishes off by showing where we are now as a society. This film was paramount in giving the average American the opportunity to see firsthand how corrupt our financial industry is and why changes need to be made to correct this issue.
This documentary does a great job of breaking down the complexity of the financial sector and making it easily understandable. I think it's insane to think that there are stockbrokers and other powerful financial workers whose lives actually resemble that of Jordan Belfort's (from The Wolf of Wall Street). I find it even more alarming that so many people are characterized by cupidity, and that it is so hard to change the ways that things are done in this country. -Damarr Gordon
This video shows that companies play with the government set up. They clearly will do anything to make more even if it is only for the mean time. There needs to be stronger regulations put in place so that they cannot continue doing this. They are playing with not just the government but with humans lives.
This movie provide significant insight into a world I did not fully understand. My favorite part was the explanation of the American cycle of financial regulation to deregulation. I was unaware of how specific administrations implemented various financial policies that allowed them large profits. I believe it should be illegal for someone to be the CEO or CFO of an organization and member of the Presidential Cabinet. Financial officers who directly benefit from government policies should not be the ones voting for or drafting legislation. America has become a business through the evils of capitalism. This business is run by the business men who sleep soundly at night on the piles of money they extract from American citizens and abroad endeavors. More people should definitely watch this film and become educated on exactly how American works.
What I specifically take issue with is how many of our government officials have been or currently are CEOs of these financial institution. It doesn't help the public perception that Washington is corrupt and that the federal government is in bed with Wall Street. -Gregory Brown
In this film the main argument made by the director Charles Ferguson is that the federal regulators are responsible for the breakdown of the federal structure through deregulation of the finance system. This documentary discusses the financial crisis that occurred in 2008 and how the cause of the financial meltdown was the systemic corruption of the United States by the financial services. The films main focus is on the financial industry before the financial crisis, the movement of deregulation, and the development of different trading systems such as the derivatives market. The director Charles Ferguson discuses how the financial industry has been putting pressure on the political system to not regulate the financial system in the United States and how even today things are no different even with the small increase in regulations placed on companies.
The Inside Job is a movie that portrays the financial crisis of 2008. It is hard to judge a movie that focuses on a crisis that is so complex that not a single movie can put it to words. This film attempts to use Hester as a scapegoat figure, or someone to blame, which emphasizes the fact that this event was simply a crime without punishment. In relation to inequality in America you can use that fact that before the crash of 2008 many individuals were separating themselves socioeconomically with the stock market. Many men and women employeed by Wall Street were cashing in on the industry while many individuals gambled their money away. It wasn't until this even occurred that many people employed and distinguished in society by Wall Street had to turn elsewhere for employment. It brings down the higher class to middle and allows us to analyze the fact that through this event we are becoming more equal. The question that arises is that were federal regulators responsible for this breakdown? It further analyzes the issue before the crisis and how even though there have been pressures on political parties there have been very few initiatives made towards the issue.
After watching the film I was dishearten to find out the same people that almost brought the country down are the ones still running it. you would think we would learn from our mistakes. while watching the film i noticed most of the individuals who were running these big banks such as AIG were finding them self working for the white house. running a bank and running a country are two different things. i believe there should be some sort of protocol when someone is shifting positions.
I often feel like some of the most damaging crimes ever committed (monetarily speaking anyway) like the ones committed by unscrupulous businessmen on Wall Street are the same ones that are most likely to go entirely unpunished. This reminds me of the concept we talked about in class about how power means being able to exert your will. In this case, the rich and powerful were able to exert influence over the justice system to escape punishment.
This was a good movie showing the intersection and overlap of the public sector and the private sector. I feel as though there need to be regulations on working for the government and industry-related firms. -Gregory Brown
In this film the main argument made by the director Charles Ferguson is that the federal regulators are responsible for the breakdown of the federal structure through deregulation of the finance system. This documentary discusses the financial crisis that occurred in 2008 and how the cause of the financial meltdown was the systemic corruption of the United States by the financial services. The films main focus is on the financial industry before the financial crisis, the movement of deregulation, and the development of different trading systems such as the derivatives market. The director Charles Ferguson discuses how the financial industry has been putting pressure on the political system to not regulate the financial system in the United States and how even today things are no different even with the small increase in regulations placed on companies.
In the Inside Job, Ferguson is arguing how key elements and individuals that led to the financial crisis and recession of 2008, which led to millions of lost jobs in the United Stated. I found it surprising that the evidence Ferguson presented throughout this film has not been publicized or broadcasted much into mainstream news media. The systematic corruption from this time had a large impact on our economy, and many are unaware of this. This film helped me understand how important it is for us to understand how our economy works and who can influence and manipulate it.
I agree that it is pretty remarkable that these facts are not more common knowledge. I think economics is such a complex and tricky subject to explain that a lot of the technical details of what exactly happened during the financial crisis are lost on most people. I'm glad that this was able to shed some more light on it in an understandable way.
The movie Inside Job, brings light to what really is going behind the scenes of our government. I feel like I’m watching a modern day feudal system where the royalty or in this case the one percent can bend laws or change them to fit their needs. Rules and regulations that make our economy stable is thrown out the door if it means buying a CEO a new fleet of personal airplanes. With some companies that are behind major politician to control them in doing what they want to do. It almost seems like are presidents, republican or democrat are just puppets controlled by the rich giving everyone else a false hope they actually have an influence in our country sadly we don’t.
ReplyDelete-Joshua Zidek
The film presents a shocking inside look into an industry that most have little understanding of but it's done well enough to make anyone angry enough about the denials by the financial institutions, but also the constant recycling of people with the industry and government departments that brings about a never changing cycle of behaviour. More shocking is the fact that some of these CEO's and other bigwigs not only got away with financial murder but they were and many still are paid handsomely with bonus's being handed out.
ReplyDeleteWhat I appreciate about this film is the range of people actually speaking. I've heard of maybe one or two people actually sharing their opinion on how the financial crisis came to exist. It is clear to see here who is actually in charge of politics and that is those who have tthe cash to influence. Just as the readings we have done, it is evident that those with money have power and power matters when you are in control. Not surprising enough, bank supervisors continued to make money even up to the point of crisis, because of their power. being able to control how things go is an easy way to make sure things always go your way, no matter the circumstances for everyone else.
ReplyDeleteThe documentary opens by sharing the financial woes of a once stable Iceland. The narrator and commentators tell the viewers that Iceland’s banks have borrowed over 1 billion dollars. My immediate response is how can you borrow that much money? Where does it all come from? The documentary goes on to highlight the lifestyles of those who have made a large amount of money and how they spend this money on prostitutes and private airplanes. The movie continues to use words such as government, private, checks, and regulations. A private therapist tells of the stress and lack of conscience of these people. While these people live with no regards to laws and how other people are living the government is not protecting its citizens. Instead the government chooses to just writing checks. And yet the movie shows that nothing comes without consequence. When you are pumping out more loans and the money is unregulated things will get messy. I think that we need to better understand where the movie that we are using is coming from and how we handle it. The movie, Inside Job shows the harrowing task that the American government has in front of them- helping pay off the crippling debt.
ReplyDeleteI’m really glad we got to watch this film. The blatant disregard for the 99%’s money and economic well-being, here in the U.S. and globally, by the financial service industry and the government is unbelievable. It really emphasizes that money doesn’t lie and how greedy people are behind closed doors. This film also made me think of G. William Domhoof’s, Who Rules America? Power, Politics & Social Change, and how the power elite dominate and control our society and our society’s institutions. They not only contributed to the implosion of the economy but also controlled the deregulation of the system, consulted to the banks and investment films after the fact, consulted and lobbied with government officials; serve as academic professors and presidents, and on and on. All of these people have these extensive resumes that keep them in the system so they can continue to make money, all because they have the same social circles and because they make their ‘friends’ and collaborative others more money. I’d think it would be even more interesting to continue this economic investigation and look into the relationships of lobbyist and government officials.
ReplyDeleteInside Job shows how vulture capitalism has come to dominate our economic system. We see that the issue of deregulation came to be because of both Democratic and Republican administrations. An example of this is the repeal of the Glass-Steagal Act by Clinton. Oddly enough, the bill was signed by the FDR, who was in the same party as Clinton is. We also see how society did not learn from their mistakes in the 1980's and paid an even greater price during the Great Recession. Unfortunately, we have not learned our lessons this time. Wall Street regulations, though stronger than before the recession, are still weak seeing the market still engages in the same disruptive processes. One of the reasons why the regulations were weak was because of the financial sector's dominance over American politics. Indeed, the Barney Frank, who co-authored the financial regulatory bill, has received millions of dollars of political donations by the banks he is trying to regulate.
ReplyDeleteI have seen this movie a few times. It always strikes me as shocking how hedonistic this group is. Despite this, the federal government has left Americans wanting with reactive and proactive measures to make sure this never happens again.
While watching this film, I experienced a mix of emotions. This film shines light on the serious problems our nation is facing and it is extremely eye opening. It also illustrates the corruption within the government and how these financial entities run the United States. Larry Summers was a name repeated throughout the film. They mentioned his involvement during Bush’s administration and how his involvement affected our economy. Later on Summers was in a photograph with president Obama. This was shocking to me, knowing how much damage his involvement had cause to the United States’ economy, amongst other individuals, they continue to be “trusted” individuals. This displays the lack of power governmental officials have and the enormous amount of power individuals like Larry Summers attain. It is unfortunate that our government allows such actions from these entities, if they weren’t allowed or if these individuals were actually prosecuted properly, the economic problems we are facing would not be as bad as they are today.
ReplyDeleteInside Job is a film that shows what seems to be the untold or little know story about the 2008 economic crisis. What most people know is that the banks failed and because of that a domino effect of economic destruction ensued. But the film highlights the causes, the perpetrators, and a good amount of the story. I was absolutely stunned by the how reckless and despicable the people who were involved were. I didn't know that there were professors who were working as consultants for large companies like AIG. It's astonishing how all o this was taking place right under our noses and it took the crash of the market for it to come to light an even then, as the film points out, those responsible were not persecuted for what I and I'm sure many believe is a great injustice to the many who lost so much.
ReplyDeleteAlan Greenspan, executives of Goldman Sachs, Bear Stearns and Lehman Brothers are of the notable/infamous figures mentioned in the film. The dealings that went on between bankers and companies cost hundreds of billions of dollars. And credit companies aiding them in their misdoings just added fuel to the fire.
The film again, brings to light many of the facts that were mostly likely unknown to many. What it also does, is show how you can commit one of the worst crimes and still get away with the "goods" and without any real punishment.
I feel that this was a great movie to watch because it opens us up to the insight of what’s going on in our government how capitalism has dominated our economic system. The movie shows how the power elite control our society institutions and what it comes down to is have power. In order to have power means that you have to have money and property to gain that power or that status which is not a surprise. This movie really brings to light how this a major concern in society today in terms of the corruption that’s taken place within our government and how the US is run by these financial entities that really grasped my attention.
ReplyDeleteThe movie highlights the problem with the government and corruption. The only reason the government is corrupt is the system.
ReplyDeleteI thoroughly enjoyed this movie and thought it was a great piece of the class. A lot of focus is placed on readings when it comes to topics like this. Inside job for me gave the class an opportunity to experience the topic in another form. The finance world is out of control and is seemingly dangerous to all of America. Inside job definitely did a great job of being to the forefront all of the corruption.
ReplyDeleteI enjoyed the movie quite a lot. I thought it was very informative in regard to some of the corruption that takes place in big businesses. It also gave a good look inside what cause the housing market to crash. Before I had seen this I had some idea what went on but it was nice to get the specifics of what happened. That and who doesn't enjoy watching the people who cause all that to get flustered and angry when called out on their BS.
ReplyDelete-Matt Fera
“Inside Job” was a very well done documentary about the financial collapse in 2008. A major theme that struck me was the direct relationship between deregulation and the collapse itself. While some deregulation is good for the economy, as the lassiez-faire approach helps to stimulate the economy and grow GDP, deregulation also results in a lot of risk taking, and too much risk-taking lead to the collapse in 2008. It wasn’t that bankers were trying to make shoddy investments, but they felt that because the government was not monitoring them, they could simply do what they pleased. Bernie Madoff ended up stealing $20 billion from investors in an elaborate Ponzi scheme that would never have happened if deregulation wasn’t as prevalent.
ReplyDeleteI thought this movie was good. I have been wanting to understand the 2008 financial crisis but when I try to read about it I get overwhelmed and confused with the terms used. I could only understand as far as "there was a housing bubble." This movie helped me to understand a lot more about the events and people that contributed to the financial crisis. I am not rich and have never been rich but the amount of greed that we see in this movie is astonishing. Furthermore, I struggle so much with the connection between deregulation and the advancement of fucked up shit that happens in the finance industry. It blows my mind because if we see that deregulation is correlated with suspicious activity in the finance industry (i.e. empty subprime loans, recklessly giving loans), then why do we continue to do deregulate? It is so hard for me to get that through my head and we can see the ways major players in the finance industry took advantage of deregulation to steal millions and Billions of dollars. Anyways, I think this movie did good at explaining complex financial things.
ReplyDeleteI really like this movie because I feel like it sheds a lot of light on the finiancial crisis of 2008 and its really interesting to see the behind the scenes of it rather then just read about it. I watched this movie in high school but it was beneficial to watch it again with the context of this class. I felt like after taking this class I had a lot more of the thinking tools that I needed to get a lot from the movie. I just think its so ridiculous that everything that happened leading up to the finical crisis happened and no one was able to do anything to stop it when it was so obviously a problem.
ReplyDelete- Ana Kyriakos
I enjoyed this documentary because it really explained how a government so cherished and admired by the world, could allow for such catastrophe. I'm sure some people thought that our government was not aware of what was going on when in fact our government is the one who allowed for such malicious behavior. Documentaries like this always shed light on who really runs America and time and time again, it shows that those people are never looking out for the best interest of THE people. Time and time again, people find loopholes around the system to get away with scams that make them richer and others poorer. These corporation are not salient organizations and that was a big take away from me. Often, people explain inequality in specific subjects but I liked this documentary because it explained how Wall Street affected me and I never made an investment. How the actions of people with power and money can affect a whole country's
ReplyDeleteeconomic system is complex and in eighth grade, I wouldn't have been able to understand how or why.
-Semira Tesfai
Whenever I would read about financial situations or crisis, I would not know how to feel about it because I was unable to interpret the language they were using to describe the situation. I am glad that I was able to watch the movie because it helped "break down" or simplify the financial situations that occur in the United States. The movie helps to clarify or bring to light how the government really is behind closed doors and how small businesses run. I was surprised when I was watching this movie because I never thought that the government and these big businesses could corrupt consumers without us even knowing. Like the anonymous commenter above me stated, documentaries always show who really controls America and it is clear to see that those who control this country are the rich and corrupted people.
ReplyDeleteThis movie highlights a lot of the issues with our financial system before the 2008 crash and still today. With deregulation at all time highs and the richest percent of our population on the rise, we have some of the highest levels on inequality since before the Great Depression. The crash we saw in 2008 was a milder form of the Great Depression crash but if changes aren't made we could be on our way to yet another. I was mostly appalled by the men who took advantage of our system and were responsible for aiding the crash and taking down our system for personal benefit. Unfortunately that is what our system allows for.
ReplyDeleteJack O'Connor
I really liked this movie because like many other people who commented, I never really understood the whole 'financial crisis' thing. Even though I was 13 at the time, I wasn't really exposed to the world like I am today. There is a point they make about how when it comes to the stock managers and 'what they said publicly, is quite different from what they said privately'. I completely agree with this because they are just like any other company and if the public knew what they REALLY did, we wouldn't want to be associated with them anymore. Like in the Koch Industries add with the daily show, his commercial showed how they really are and that is rarely portrayed in todays society.
ReplyDeleteAbby, I agree with you it does show how they really are. It feels like that they are a classic wolf in sheep’s clothing. They betray themselves to the public one way to try and persuade you that their cause is good but in fact it is really bad. The people need to look more into companies nationwide to expose the truths about them.
ReplyDelete-Joshua Zidek
I totally agree. It is just so difficult to take the power away from these companies. Take McDonalds for example. We all know they are serving potentially deadly food but they also are the biggest sponsor for the olympic games. Their is no was to get rid of McDonalds because than you loss a lot of finical support for the olympics.
ReplyDeleteThe movie gave me a real insight into what events lead to the cause of the economic crisis. It should in part the effects of globalization. The world is so connected that a crisis in one country can spread like a wildfire to several others. Also how much power big cooperation’s have; they can influence policy with reports, and even lie (giving high ratings) and be rewarded for it.
ReplyDeleteI personally enjoyed watching these big business leaders confronted on the situation of the financial crisis. I felt as though many were embarrassed because the companies they were involved in were clearly guilty of some sort involvement. Many attempted to loosely answer questions without digging themselves in a whole. It kind of says a lot about these companies in the sense that all these companies try to play "sneaky" and will always have the power to loosely answer to the consequences without costing the company much suffering. There needs to be a change.
ReplyDelete- Hannah Lamotte
Hearing about the chain from home mortgages to lenders to investment banks and the irresponsible actions they took is infuriating. How lenders would give loans to anyone because they were no longer at risk for losing money and how investment banks paid off rating companies to give high ratings to CDOs. It's insane that people can just sit by and turn a blind eye as long as they 1) are making a profit 2) are not held responsible if the loans failed or the CDOs failed after being given a high rating. What a crazy world.
ReplyDeleteThis was an interesting film to watch. Inside Job exemplifies how corrupt our country is. The financial industry basically robbed taxpayers in the 1980's when it was deregulated. Bank's borrowed money for way more than they were worth and when the CDOs collapsed, they were left in so much debt that the financial system became paralyzed. This was devastating for a lot of people, but somehow executives (that caused the crisis) were untouched. The film was good because it made you feel just how imbalanced the USA and financial institution is.
ReplyDeleteThe Inside Job is a great documentary on the U.S economic crisis and how top financial officials basically do not care about normal investors. The film is split into five parts that each detail how we got to the financial situation are currently to who the key players are. The overarching message one can take away from the film is the fact that the US current economic crisis is a complicated situation in which many people played a part. Though this film focuses on big companies and their role, it is important to note that other people and factors occurred. Great film overall.
ReplyDeleteI loved the documentary beaus it really displayed how the financial crisis came about. It details the role greed played in the crisis and how people who are financially wealthy will nt have to face jail time for their crime. Some people say that it is a flaw in the system but I feel as though it is a flaw in a person. If you know your greed can affect others and you still don't care then that is a problem.
ReplyDeleteThe funny thing about these banking CEO's is that after the 2008 crisis, and to this day, no one member has been indicted or charged with any crime, these financial companies have only been fined, and in many cases, a lot of them received levies for helping the fed get back on its feet. The financial system is obviously rigged, and with the continuance of unlimited funding towards campaign elections, it won't be over any time soon
ReplyDelete-Crash
This documentary does a really good job of covering major points that we learned in class. The idea that the rich are using their power and position to maintain their economic stability. They way politicians are so heavily influenced by the elite is quite disturbing and I'm glad this documentary goes behind the scenes as to what really happens so the rest of the world can gain inside on the financial crisis and current economic crisis.
ReplyDeleteI find it quite interesting that in light of the many financial crises that have occurred in our country (i.e., the Housing Crisis, Recession of 2008), that many of the wealthy perpetrators were not charged, and even to this day, continue to profit from our losses in the economy. Unless the government tightens regulation of financial happenings within this country, these things will continue to happen.
ReplyDeleteThe film is one of the best because I personally had to do a monologue of the being. More shocking is the fact that some of these CEO's and other higher people get away with financial murder but they were and many still are paid handsomely with bonus's being handed out. The idea that the rich are using their power and position to maintain their economic stability. They way politicians are so heavily influenced by the elite is quite disturbing and I'm glad this documentary goes behind the scenes as to what really happens so the rest of the world can gain inside on the financial crisis and current economic crisis. Pierre Bolden
ReplyDeleteWith anything that matter, you will find people trying to rebel against the system. This video highlights how corruption in our Government inadvertently affects our country. We are in a time where technology is changing everyday, and with that comes people who try to beat the system. If a company is corrupt at the top, it will surely trickle down.
ReplyDeleteWow, this film was powerful. The financial crisis that took place during the 2000's is a topic that I knew of and had some knowledge of, but didn't totally understand (and i still don't). But there was clearly a lot of intentional wrong doing by those in power to increase their wealth while decimating the middle and lower classes investments. They essentially played casino with the future of the American economy and lost big, and we are still recovering from it. I was disappointed as fan of Obama to be reminded that the steps he took early on in the financial crisis didn't punish those who were most responsible for it. Also, those who were responsible most definitely belong in jail for the risk they put our country at. While our countries recovery has been slow but recovery none-the-less, the lack of consequences for those who caused the recession is upsetting.
ReplyDeleteI find this film very important in provoking further thought into how the system operates, and how we should not just take everything associated with the economy or the government at face value. Many things affect the state of the economy, especially the greed of high ranking personnel heading big companies in industries that don't come under harsh scrutiny and face the consequences for affecting the people of the public the way they do. - Maulford Smith
ReplyDeleteThis film is groundbreaking in my opinion because it shed light on how the changes in the policy environment and banking practices helped create the financial crisis. It provides real-life background information that helps us citizens truly see how the financial crisis came about and why it was so devastating to our nation. The fact that it was split into 5 parts was important because it allowed the audience to see step by step what caused this giant problem to occur and the film finishes off by showing where we are now as a society. This film was paramount in giving the average American the opportunity to see firsthand how corrupt our financial industry is and why changes need to be made to correct this issue.
ReplyDeleteThis documentary does a great job of breaking down the complexity of the financial sector and making it easily understandable. I think it's insane to think that there are stockbrokers and other powerful financial workers whose lives actually resemble that of Jordan Belfort's (from The Wolf of Wall Street). I find it even more alarming that so many people are characterized by cupidity, and that it is so hard to change the ways that things are done in this country. -Damarr Gordon
ReplyDeleteThis video shows that companies play with the government set up. They clearly will do anything to make more even if it is only for the mean time. There needs to be stronger regulations put in place so that they cannot continue doing this. They are playing with not just the government but with humans lives.
ReplyDeleteThis movie provide significant insight into a world I did not fully understand. My favorite part was the explanation of the American cycle of financial regulation to deregulation. I was unaware of how specific administrations implemented various financial policies that allowed them large profits. I believe it should be illegal for someone to be the CEO or CFO of an organization and member of the Presidential Cabinet. Financial officers who directly benefit from government policies should not be the ones voting for or drafting legislation. America has become a business through the evils of capitalism. This business is run by the business men who sleep soundly at night on the piles of money they extract from American citizens and abroad endeavors. More people should definitely watch this film and become educated on exactly how American works.
ReplyDeleteWhat I specifically take issue with is how many of our government officials have been or currently are CEOs of these financial institution. It doesn't help the public perception that Washington is corrupt and that the federal government is in bed with Wall Street.
ReplyDelete-Gregory Brown
In this film the main argument made by the director Charles Ferguson is that the federal regulators are responsible for the breakdown of the federal structure through deregulation of the finance system. This documentary discusses the financial crisis that occurred in 2008 and how the cause of the financial meltdown was the systemic corruption of the United States by the financial services. The films main focus is on the financial industry before the financial crisis, the movement of deregulation, and the development of different trading systems such as the derivatives market. The director Charles Ferguson discuses how the financial industry has been putting pressure on the political system to not regulate the financial system in the United States and how even today things are no different even with the small increase in regulations placed on companies.
ReplyDeleteThe Inside Job is a movie that portrays the financial crisis of 2008. It is hard to judge a movie that focuses on a crisis that is so complex that not a single movie can put it to words. This film attempts to use Hester as a scapegoat figure, or someone to blame, which emphasizes the fact that this event was simply a crime without punishment. In relation to inequality in America you can use that fact that before the crash of 2008 many individuals were separating themselves socioeconomically with the stock market. Many men and women employeed by Wall Street were cashing in on the industry while many individuals gambled their money away. It wasn't until this even occurred that many people employed and distinguished in society by Wall Street had to turn elsewhere for employment. It brings down the higher class to middle and allows us to analyze the fact that through this event we are becoming more equal. The question that arises is that were federal regulators responsible for this breakdown? It further analyzes the issue before the crisis and how even though there have been pressures on political parties there have been very few initiatives made towards the issue.
ReplyDeleteAfter watching the film I was dishearten to find out the same people that almost brought the country down are the ones still running it. you would think we would learn from our mistakes. while watching the film i noticed most of the individuals who were running these big banks such as AIG were finding them self working for the white house. running a bank and running a country are two different things. i believe there should be some sort of protocol when someone is shifting positions.
ReplyDeleteI often feel like some of the most damaging crimes ever committed (monetarily speaking anyway) like the ones committed by unscrupulous businessmen on Wall Street are the same ones that are most likely to go entirely unpunished. This reminds me of the concept we talked about in class about how power means being able to exert your will. In this case, the rich and powerful were able to exert influence over the justice system to escape punishment.
DeleteThis was a good movie showing the intersection and overlap of the public sector and the private sector. I feel as though there need to be regulations on working for the government and industry-related firms.
ReplyDelete-Gregory Brown
In this film the main argument made by the director Charles Ferguson is that the federal regulators are responsible for the breakdown of the federal structure through deregulation of the finance system. This documentary discusses the financial crisis that occurred in 2008 and how the cause of the financial meltdown was the systemic corruption of the United States by the financial services. The films main focus is on the financial industry before the financial crisis, the movement of deregulation, and the development of different trading systems such as the derivatives market. The director Charles Ferguson discuses how the financial industry has been putting pressure on the political system to not regulate the financial system in the United States and how even today things are no different even with the small increase in regulations placed on companies.
ReplyDeleteIn the Inside Job, Ferguson is arguing how key elements and individuals that led to the financial crisis and recession of 2008, which led to millions of lost jobs in the United Stated. I found it surprising that the evidence Ferguson presented throughout this film has not been publicized or broadcasted much into mainstream news media. The systematic corruption from this time had a large impact on our economy, and many are unaware of this. This film helped me understand how important it is for us to understand how our economy works and who can influence and manipulate it.
ReplyDeleteI agree that it is pretty remarkable that these facts are not more common knowledge. I think economics is such a complex and tricky subject to explain that a lot of the technical details of what exactly happened during the financial crisis are lost on most people. I'm glad that this was able to shed some more light on it in an understandable way.
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