The director shows how their body-language is always the same: 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. Where I work, we are compliant up to our eyeballs — be it drug checks, expenses checks, or simply the monitoring of all phonecalls and emails.
Merrill Lynch, on the edge of collapse, was acquired by Bank of America. For the UK, that would be a disaster. Ferguson argues that crucially, the banks were allowed to insure against bad debts with credit default swaps — any number of these insurance policies could be purchased against one particular risk.
The documentary film brought the curtains down on credit rating agencies as it provided undeniable evidence of their involvement in the financial crisis. And bank also heavily borrowed in this period, the ratio of loan versus actual deposit was 33 to The film ignored the failure of accountants to say anything.
As a lot of these banks are global and flexible, they can just go overseas. He now runs Sacred Microdistillery. Sure, there's greater scrutiny of bonuses — but many bankers think they were not responsible personally for the crisis and they're worth every penny they're paid.
But what can be done about all this.
It beggars belief that ordinary taxpayers are facing higher taxes and spending cuts, while bankers walked away scot-free. In the same year the congress passed Gramm-Leach-Bliley-Act, this act was passed to facilitate the said merger, but on the basis of this new act many other mergers took place, which latter became the cause of Financial Crisis.
How We Got Here[ edit ] The American financial industry was regulated from tofollowed by a long period of deregulation. But that is not what happens to bubbles. But only a new political mood for regulation will do, and this still seems far away.
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. 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 will doubtless make many people — especially those who lost their jobs and savings — angry at not only what the banks did, but that many of the people responsible are still in their jobs, and that no one's gone to prison.
In Europe, we have tried to since the crisis. It features research and extensive interviews with financiers, politicians, journalists, and academics. But that is not what happens to bubbles. Apparently, these top executives had much knowledge of their falling companies and cooked the books so that investors would believe otherwise.
It's not a black-and-white issue, and you can't be that kneejerk: 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.
This inability to challenge trading desks generating billions in phantom profits was endemic. An ordinary person defaults on his debt, he gets to live in his car.
As a lot of these banks are global and flexible, they can just go overseas.
The director shows how their body-language is always the same:. "The Inside Job" is about global financial crisis and how few people are controlling world's economy and the entire world. It is about the people who failed to regulate.
Inside Job, documentary film about the financial crisis of – by Charles H. Ferguson Television [ edit ] Inside Job (TV series), a reality show on TNT. The documentary Inside Job hunts down the culprits of the major financial institutions that had the biggest effect on the nation’s economy.
The film attempts to provide a comprehensive understanding of the most important subject we have yet to face as a country; which is the worst financial crisis since the Depression, as well as holding. Welcome, to the Inside Job Summary - Full Version.
1. I recently received and viewed Inside Job from Netflix. Inside Job is the Oscar-winning documentary by Charles Ferguson.
Inside Job is about heads of high finance and government selling the world into the global financial crisis. Since creating 5/5(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 ofwhich 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.Summary on the inside job documentary