Especially right now, in light of the unfolding crisis in the mortgage industry, where as much as 60% of the mortgages in the U.S. could be found defective, this is an important movie.
I found the movie very well put together with emphasis on the important lessons that should be learned. Almost at the end, where one of the interviewees says, "Wall St. controls the government now", this is what the American people NEED to know. Mr. Ferguson also makes it very clear that this is not a partisan issue, as Obama gets just as much blame as Bush and Clinton, etc.
What the movie fails to show is how this criminal misconduct on behalf of the banking industry is not a disease but a symptom. The very structure of the U.S, and global, financial system will ALWAYS drag the people from one crisis to the next. Regulations cannot solve it because the system is built upon it. I am not talking about greed and avarice, I am talking about a single industry, the banking industry, enjoying a marked advantage and power over all other forms of industry.
These Wall St. oligarchs have presided over the economic destiny of the world since the middle of the last century. J.P. Morgan Chase, and Citi, are banks that have existed since the days of the civil war. The mighty and powerful families at the core of the elites that have guided the development of the western world have been the same for time immemorial. Which isn't to say that certain people should be held accountable, but rather, the system fosters this elitism, change the names and faces and new names and faces will emerge to replace them.
What MUST be changed is the system. Take the "money power" back from private corporations and return to the people. Power and wealth will always concentrate into fewer and fewer hands as long as the power to create money is bestowed upon a select few "experts" in high finance and Ivey League academia.
Sorry for the diatribe, but I couldn't resist. And let me be clear, I am not disappointed that this movie didn't dive deeper into the esoteric information at the center of the crisis, on the contrary, it dove just deep enough.
Please pay close attention to the ongoing crisis in the banking/mortgage industry which will certainly find more headlines in the coming weeks and months. Frame your mindset and understanding of it in light of the information provided by "Inside Job".
I found the movie very well put together with emphasis on the important lessons that should be learned. Almost at the end, where one of the interviewees says, "Wall St. controls the government now", this is what the American people NEED to know. Mr. Ferguson also makes it very clear that this is not a partisan issue, as Obama gets just as much blame as Bush and Clinton, etc.
What the movie fails to show is how this criminal misconduct on behalf of the banking industry is not a disease but a symptom. The very structure of the U.S, and global, financial system will ALWAYS drag the people from one crisis to the next. Regulations cannot solve it because the system is built upon it. I am not talking about greed and avarice, I am talking about a single industry, the banking industry, enjoying a marked advantage and power over all other forms of industry.
These Wall St. oligarchs have presided over the economic destiny of the world since the middle of the last century. J.P. Morgan Chase, and Citi, are banks that have existed since the days of the civil war. The mighty and powerful families at the core of the elites that have guided the development of the western world have been the same for time immemorial. Which isn't to say that certain people should be held accountable, but rather, the system fosters this elitism, change the names and faces and new names and faces will emerge to replace them.
What MUST be changed is the system. Take the "money power" back from private corporations and return to the people. Power and wealth will always concentrate into fewer and fewer hands as long as the power to create money is bestowed upon a select few "experts" in high finance and Ivey League academia.
Sorry for the diatribe, but I couldn't resist. And let me be clear, I am not disappointed that this movie didn't dive deeper into the esoteric information at the center of the crisis, on the contrary, it dove just deep enough.
Please pay close attention to the ongoing crisis in the banking/mortgage industry which will certainly find more headlines in the coming weeks and months. Frame your mindset and understanding of it in light of the information provided by "Inside Job".