Showing posts with label BEN BERNANKE. Show all posts
Showing posts with label BEN BERNANKE. Show all posts

March 6, 2011

"Inside Job": Award-winning documentary on how Wall Street brought the world down to the Road

Now that the sub-prime crisis is well behind us, and we are not really looking forward to the next one sooner, public memory is as short-sighted as ever. In order to jog the public memory about the crisis that rattled governments, public and societies equally the world over, you have choices - of reading about the books that brought the worst crisis since '30s. In no pecking order of importance, you can read the books like "13 Bankers", "Too Big to Fail", "Two Trillion Dollar Meltdown", "Sub-prime Solution", "Fool's Gold", "The End of WalStreet as we know it", "Faultlines", "BlackSwan", "Crisis Economics", "A Colossal Failure of Common sense" or any other Wiley classics or Penguin books coming still by dime a dozen. I suggest a more time-saving choice - grab a seat to watch Charles Ferguson's "INSIDE JOB" which won the Oscar for the best documentary. The man has written, directed and produced a pulsatingly educative documentary which will break the glass ceiling of understanding the real issues that brought the world economies to a grinding halt during those years of 2007-2010 from US to Iceland to Greece to UK. Charles Ferguson gives in one hour forty eight minutes all the dope and lowdown that has led to the crisis of 2008 and gives a crisp background of the years leading to the fat years before greed, chicanery, and blatant selfishness of a few "bad" men of Wall Street colluding with Washington led to blood on the streets. The documentary is as gripping any movie because it uses narration and interview technique to give an overview of the nexus between few big banks and Government, between Academic Economists and their linkages with Hedge Funds, between Rating Agencies and the Ratees, between Fed and Other Bankers. Truth is tougher to tell and even tougher to swallow and they say pride goes before the fall  - but watching this documentary brought out the hard truth that Wall  Street and some of the biggest names riding on its masthead do not have the grace to accept what price the world has paid for their follies - in the testimony, in their brazen pursuit of profits and the shameless lack of guilt for taking compensation even when investor's monies have vaporised. The documentary shows during the narration that the following people have declined to give interviews for the film (which should tell all) - Goldman Sach's  Henry Paulson, Alan Greenspan, Lawrence Summers, Robert Rubin, Timothy Geitner, Glenn Hubbard and Ben Bernanke. Don't miss the film - INSIDE JOB - its more than a documentary.

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