Seeking Alpha

bear_mkt's  Instablog

bear_mkt
Send Message
I'm an individual investor and trader. I'm currently retired. My professional work experience has been in commercial real estate, working for a major supermarket company and for an urban development corporation. Bear_Mkt is my pseudonym -- bear seems to be my usual investing view. Don't take... More
My blog:
Dollar Crisis
  • "Inside Job" - movie review - 2008 financial crisis - 2 comments
    Oct 18, 2010 4:19 PM

     "Inside Job" is a documentary about the US financial crisis from the pre-subprime era, about 2004-5 to 2010. Charles Ferguson, the director, was interviewed on Bloomberg Radio. I was able to catch it in New York. The movie has won several awards and gotten good reviews.
     
    The movie blows up the myth spun by regulators (like Greenspan), experts and Congress  that "nobody could see it coming" by interviewing officials, authors and fund managers who did see it coming and published papers about it.

    One recurrent theme is "It's a Wall Street Government." Director Ferguson shows the revolving door between government and Wall Street. Both political parties are criticized for ties to the Street.
     
    The movie is fairly fast-paced, with interviews with many of  the those involved in the financial crisis plus authors and journalists, mixed in with graphics and sound track that includes "Takin' Care of Business."  Soros, Roubini, Ackman, top officials from Singapore, France and China appear. (Greenspan, Geithner and Paulson wisely decided not to appear.)  There are easy to understand graphics explaining financial products like CDO's and CDS's and concepts like securitization of subprime.

    One surprising disclosure is Wall Street money has influenced academics such as economics and business school professors as much as Congress and the regulators. Many studies written by academics are not  independent but are actually funded by Wall Street, like those phony drug studies. One study praising Iceland, whose economy soon collapsed, was paid for by its Chamber of Commerce. 
      
    One of the takeaway points for me is not "who did what in 2008", but that nothing by way of regulation has been done since then.  The casino is still open. The big players are bigger still. .So when the next crisis comes, it will be much bigger.

    Just my opinion

    =======
     
    Trailer
    http://www.sonyclassics.com/insidejob/
     
     NY Times review
    http://movies.nytimes.com/2010/10/08/movies/08inside.html?scp=1&sq=inside job&st=cse

    ==========





    Disclosure: Long C
Back To bear_mkt's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (2)
Track new comments
  • manuelbrassuga
    , contributor
    Comment (1) | Send Message
     
    I appreciate the fact that you stated your opinion, and then made it clear to the reader that it is "just your opinion." Many bloggers and members of the media often forget that what you write is "just your opinion." -Refreshing
    24 Jan 2012, 10:49 PM Reply Like
  • Buckoux
    , contributor
    Comments (6668) | Send Message
     
    I saw this movie (via Netflicks) and agree with the authors review even unto his conclusion at the end. It's worth the time to watch. It's really worth the time to see with your teenage or young adult kids. They need to become aware.
    26 Mar 2012, 02:37 PM Reply Like
Full index of posts »
Latest Followers

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.