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Inside Job: how bankers caused the financial crisis
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)
Posted: February 21st, 2011
http://www.guardian.co.uk/film/2011/feb/17/inside-job-financ...
Charles Ferguson's film Inside Job ... explains why so little has been done to reform the financial world or bring criminal prosecutions against the main protagonists [of the financial crash that began in 2008]. His villainous lineup includes bankers, politicians (many of whom were previously bankers), regulators, the credit ratings agencies and academics. In Inside Job, the name that keeps cropping up is Larry Summers, a friend of President Bill Clinton and more recently Barack Obama. Summers exemplifies the links between cheerleaders in academia, Wall Street, supine regulators and an ignorant Capitol Hill that Ferguson stresses were at the root of the problem. Still, no matter how much it is explained, the general public is not going to understand. How does one go into battle yelling slogans about credit default swaps? The bankers know ignorance is their trump card. Maybe Inside Job will make us more savvy in time for the next crash.
Note: For a treasure trove of reports from reliable souces on the criminality of the major financial firms, regulatory agencies and politicians which led to the global financial crisis and Greater Depression, click here.
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