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Was the 2008 economic crisis an “Inside Job”?

by on Nov. 24, 2010, under Arts, Life, Politics

movie poster

From Academy Award-nominated filmmaker, Charles Ferguson (No End In Sight), comes INSIDE JOB, the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs. Through extensive research and interviews with major financial insiders, politicians and journalists, INSIDE JOB traces the rise of a rogue industry and unveils the corrosive relationships which have corrupted politics, regulation and academia.
Narrated by Academy Award-winner Matt Damon, INSIDE JOB was made on location in the United States, Iceland, England, France, Singapore, and China.

View/read more on the official website: http://www.sonyclassics.com/insidejob/. So if you really want to find out what happened with the economy back in 2008, watch this engrossing film.

Opening at the Loft Theater on November 24 with showings at 12:15, 2:45 and 7:30 p.m., a day before Thanksgiving, 2010, at 3233 E. Speedway. Recorded phone message – (520) 795-7777.

UPDATE: Blogger Pamela Powers also wrote recently about a woman regulator who tried to warn others about this looming crisis:

http://tucsoncitizen.com/tucson-progressive/2010/11/24/the-warning-before-the-2008-crash-one-valiant-regulator-fought-for-sanity/

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  • http://www.facebook.com/pages/Three-Sonorans/144198198931412 Three Sonorans

    If it’s narrated by Matt Damon then I know it has a progressive slant to it… which I like of course :)

    • Carolyn Classen

      Right “3 Sonorans”, and I just saw “Wall Street: Money Never Sleeps” which did cover the 2008 economic meltdown as well.  The AZ Daily Star reprinted an AP movie review this morning and says this movie is “all depressing, well-documented stuff” but also an “eye-opening, jaw-dropping package”– on page A15.
       
       

  • myperspective

    I read the review in the Star this morning too. I won’t see it because I know it will be depressing. There’s so much that we do know already and very little is ever done to change things.
    The deficit commission has the simplest answer in front of their noses, but they are unwilling to look at it. Extending the Bush tax cuts to only those earning less than $250,000.00 a year would greatly reduce the deficit. We know that happening is highly unlikely as the vast majority in Congress have incomes much greater than that.
    So one thing they look at is Social Security which had nothing to do with the deficit. In fact it’s been raided illegally(Of course, when you have the pwer, nothing is illegal) to make up for deficits a number of times. 
    It’s always the ordinary people who pay so the wealthy can play.

    • Carolyn Classen

      Yup, there have been huge disparities in wealth in all countries, since time began.  I am afraid that this movie may be too revealing.

  • Carolyn Classen

    Riveting and disturbing documentary of the 2008 (and ongoing) financial crisis in America, created by utter greed and abuse by top executives of the major financial institutions, as well as economic “consultants” (some are professors at ivy-league colleges).  This movie explains the 6 million foreclosures of homes and massive unemployment, the government bailout, and the  interconnectedness of the financial industry and the Executive Branch of the U.S. Government. Go see it.

  • Pamela Powers

    Inside Job was an awesome movie. It shows how close the US Treasury Dept. is to Wall Street with personnel regularly sliding in and out of government– like Paulson, Ruben, and others. Since so many of the have worked on Wall Street and made millions (thanks to deregulation), of course, they want to continue deregulation and support “market corrections”, as Alan Greenspan.
     
    One thing that I found surprising was that the movie panned the Obama financial reform (from July 2010) as not going far enough, since it didn’t reinstate Glass-Steagall. Ironically, Harry Mitchell and other Republicans have been calling for the repeal of the July 2010 financial reform because of its “oppressive” regulations on the market. How can it be both oppressive and wimpy?
     
    Inside Job complements the FrontLine show– The Warning– that I wrote about yesterday but gives more details.
    http://tucsoncitizen.com/tucson-progressive/2010/11/24/the-warning-before-the-2008-crash-one-valiant-regulator-fought-for-sanity/

    • Carolyn Classen

      Glad you & Jim attended last night.  I updated my article to include yours as well.  Wasn’t that regulator Brooksley Born also shown in last night’s movie, as being ignored (and silenced)?

  • http://www.bicyclestockimages.com Martha Retallick

    I can’t help but think that gender had a lot to do with why Brooksley Born wasn’t listened to.
    And I fear that the same thing could happen to Elizabeth Warren. She’s under fierce attack right now.
    To which I say: Stand strong, Elizabeth. We need you.

    • Carolyn Classen

      Could be Martha, but several expert financial services men in the movie last night also were issuing strong articles/papers warning of this economic meltdown, but they were ignored as well.  Have you seen the “Inside Job” yet?

  • myperspective

    Thanks for your comments on Obama, Pam. No one has worked so hard, especially in the face of such adversity. We have already begun to see some signs of improvement in a number of areas but very few want to give him credit including Democrats and others who consider themselves liberals. And we already know not to expect very much from the so called “Liberal media.”

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