The Inside Job - Review
ADMAP
REVIEW OF THE MOVIE – INSIDE JOB
Rohan Rambhia | PGP-10-155
Inside Job is an exemplary recount of how administrator’s role when exploited to form risky administrative strategies by means of faulty processes lead to a crisis of the stature of the recession of 2008. It is a comprehensive documentary which narrates the history of the collapse, not only going into great, informative depth about the risk-based strategies that put the global economy on the line, but looks back to the rise of the financial industry. The biggest question which the documentary arouses is that knowing what happened, why are the miscreants not being punished? As the director, Charles Ferguson, himself stated while receiving the Oscar, “Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that's wrong.”1 Lets us first look at the prelude (context) of this financial crisis:
ADMAP
REVIEW OF THE MOVIE – INSIDE JOB
The Clinton era (1990s) worked as a bridge between the Wall Street and the government. More and more Wall Street CEOs gained access to the government, taking up administrative positions like 2 • Robert Rubin On Wall Street: Chairman and COO of Goldman Sachs For the Government: Secretary of Treasury under Bill Clinton Laura Tyson On Wall Street: Board director of Stanley Morgan For the government: Chair of the US President's Council of Economic Advisers during the Clinton Administration. She also served as Director of the National Economic Council. during the Clinton Administration.
In 1980s - the era of President Ronald Regean – set the foundation for deregulation of various aspects of financial markets. The markets and financial services were deregulated, and the driving force for this liberalization was Alan Greenspan. The deregulation of Wall Street and the savings and loan industry led to less oversight (control and regulation),
REVIEW OF THE MOVIE – INSIDE JOB
Rohan Rambhia | PGP-10-155
Inside Job is an exemplary recount of how administrator’s role when exploited to form risky administrative strategies by means of faulty processes lead to a crisis of the stature of the recession of 2008. It is a comprehensive documentary which narrates the history of the collapse, not only going into great, informative depth about the risk-based strategies that put the global economy on the line, but looks back to the rise of the financial industry. The biggest question which the documentary arouses is that knowing what happened, why are the miscreants not being punished? As the director, Charles Ferguson, himself stated while receiving the Oscar, “Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that's wrong.”1 Lets us first look at the prelude (context) of this financial crisis:
ADMAP
REVIEW OF THE MOVIE – INSIDE JOB
The Clinton era (1990s) worked as a bridge between the Wall Street and the government. More and more Wall Street CEOs gained access to the government, taking up administrative positions like 2 • Robert Rubin On Wall Street: Chairman and COO of Goldman Sachs For the Government: Secretary of Treasury under Bill Clinton Laura Tyson On Wall Street: Board director of Stanley Morgan For the government: Chair of the US President's Council of Economic Advisers during the Clinton Administration. She also served as Director of the National Economic Council. during the Clinton Administration.
In 1980s - the era of President Ronald Regean – set the foundation for deregulation of various aspects of financial markets. The markets and financial services were deregulated, and the driving force for this liberalization was Alan Greenspan. The deregulation of Wall Street and the savings and loan industry led to less oversight (control and regulation),
References: ADMAP REVIEW OF THE MOVIE – INSIDE JOB 1. http://www.youtube.com/watch?v=mpz5DVwnbnk&feature=player_embedded 2. http://www.businessinsider.com/people-who-have-worked-on-wall-streetwashington-white-house-2011-3?op=1#ixzz1Iugg1kcq 3. http://streetlightblog.blogspot.com/2011/02/plateau-in-wall-streetcompensation.html 4. http://gulzar05.blogspot.com/2008/09/nationalization-of-aig.html 9|Page