The Global Economic Crisis of 2008
cost tens of millions of people
their savings, their jobs and their home.
This is how it happened.
This is the opening sentence of Inside Job, a 2010 documentary focusing on the 2007-2010 financial crisis, aka the Great Recession. Charles Ferguson, the director and producer, sets out to explain the roots, the unfolding and the effects of this crisis. Well cadenced and breathtaking, the movie switches between beautiful landscapes in Iceland, New York & London and interviews of a multitude of people, from well known and influencial economists to advisers, strippers, psychologists and writers, which provides us with a deep and thorough analysis of the financial crisis.
This movie also does the great job of explaining complicated subject in simple words, showing us that financial "innovation" is nothing more than useless -if not dangerous. In addition, some key people that led us in this crisis are questioned about their role, grilled and sometimes cornered, admitting that what they did was indeed criminal, which brings some satisfaction -even though they still retain their jobs and are still making money on our back. One of the key fact that Charles Ferguson emphasizes is that no criminal persecution has been launched, no investigation of the crisis was ever made; probably because, as Dr. Roubini says, we would then find the culprits. Wouldn't now be the time for our societies to look more carefully at this matter?
After all, the very same structure that led us into the crisis is still present, more active than ever…
So if you're wondering what happened in the last (and I'd say current/future) crisis, how we got there and where we are now, this documentary will tell you all you need to know. A must see !
About Carlito Riego
"Great perfection may appear imperfect, but its usefulness is inexhaustible. Great abundance may appear empty, but its usefulness cannot be exhausted. Great correctness may appear twisted, great skills appear crude, great eloquence appear awkward. Activity conquers cold; inactivity conquers heat. Clear serenity governs the world." - Lao Zi