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Inside Job

I recently had an opportunity to watch the movie Inside Job, narrated by Matt Damon, and I have to say this is one of the best documentaries I've seen in a long time. The movie is divided into 5 parts/"summaries": How We Got Here, The Bubble, The Crisis, Accountability and Where We Are Now.

For anyone interested in how the world financial crisis of 2008 came to be this is a must-see. The movie explains in layperson's terms how a history of deregulation, multi-billion dollar financial lobbying, coporatism, political obfuscation and outright fraud led to the events of 2008.

It explains such concepts such as Collateralized debt obligations (CDOs) and credit default swap (CDS). It addresses the bonus culture of Wall Street, the privatization of profits and the socialization of losses.

This is a very good movie that identifies the key players and key policy decisions that precipitated the crisis. As an Indianapolis real estate broker, I have seen first-hand how the aftermath of the crisis affected my local community. I sincerely hope that more attention is brought to the current situation. Many of the key players that contributed to the crisis were appointed to key cabinet positions in the Obama Administration. These are individuals who fought hard against the very regulations that would have prevented the crisis.