How US Dollar Collapsed - Inside Job

Outstanding documentary - A truely eye-opener film i'm here to share

Inside Job

Inside Job is a documentary that encompasses everything we would need to know about what exactly happened in the Financial Crisis, which we are still facing today. This film which is directed by Charles H. Ferguson describes the corruption and greed by many of the most famous Financial companies we know of. There are five parts to the film which talk about “How we got here”, “The Bubble”, “The Crisis”, “Accountability” and “Where we are now.”

Part I was called “How we got Here”. This essentially talked about what events led up to this massive financial crisis. The American financial sector was regulated from 1940 to about 1980. There were two major crisis right after deregulation started. First was the Savings and Loan crisis which affected taxpayers, because they were the ones paying for the crisis. Then the invention of derivatives became quite popular. Causing Investors to make money, but also making the market very unreliable and unstable. Also, in 2001, there was a crisis better known as the “Internet Stock Bubble.” This occurred due to the fact that Investment banks purposely invested and promoted Internet companies which they knew that would fail. At the end of it all there were giant firms that had formed, instead of having smaller more personalized Investment banks. The main names that were included in this were Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch and Bear Stearns. AIG was also a big name in securitized insurance companies and there were three main credit rating agencies, better known as Moody's, Standard & Poor and Fitch. There was even more instability with the creating of CDO's (Collateralized Debt Obligations). Investors were lending out to people who they knew couldn't afford to buy a certain home or pay the mortgage.

I believe that anyone watching just part I of this documentary can make the assumption that we were going downhill with all these unstable inventions that were supposed to bring in more.

Read here for more details:
The New York Times


Preview:




Full Documentary can be seen here:

Inside Job

Video : Summery

1) Inside Job is a documentary by Charles Ferguson, about the causes of the global financial crisis of 2008.

2) The basic premise of Inside Job is that the global financial crisis of 2008 was the effect of a series of causes beginning in the 1970s.

These causes most prominently include - (1) deregulation that allowed excessive and reckless actions in finance, (2) fraud, (3) conflicts of interest, and (4) sabotage.

The result of these actions was a massive decline of financial stability for the global masses and a correspondingly massive incline of financial gain for a minority of heads in high finance and government - a trend that continues today.

3) Inside Job is divided into five parts. We are looking into each part through this Inside Job summary.

Inside Job - Summary - Part I: How We Got Here -

4) The Reagan Administration of the United States began a thirty-year-period of deregulation by the legislators in the financial system.

5) Deregulation allowed the financial sector more freedom and less discipline, which provided more opportunity for profit and risk. Reflecting the profit growth resulting from deregulation, investment banks went from small, private firms to public companies.

To illustrate the growth of the financial sector beginning in the 1970s and continuing into the early 2000s, consider this - from 1978-2008 the average salary in the United States in every profession other than investment banking rose by 25% and the average salary in investment banking rose by 150%.

Inside Job - Summary - Part II: The Bubble (2001-2007) -

6) In early 2000, further reflecting deregulation, a new method of mortgage lending was developed in the financial system that allowed for excessive betting without immediate risk and incentives to sabotage the system for personal profit.

7) The system developed is named the Securitization Food Chain.

Simply stated, the Securitization Chain is a system whereby borrowers receive home loans from lenders and the lenders pass these loans across a chain of investment banks, investors, and the insurance company AIG.

With each trade, one party earns a profit and the other party earns the loan.

8) The loans were mixed with other types of debt, such as car loans and credit card debt, given a rating, and investors would include these mixes in their funds depending to their rating.

Since each party was removed from risk by selling the debt, lenders could extend absurd loans that were highly unlikely to be repaid, rating agencies could grade the absurd debts highly without consequence, and investors could sell the debts with confidence and bet on the debts with insurance from AIG.

9) The result was the opportunity for virtually anyone in the US to receive a home loan and purchase a home, which sent home prices incredibly high (the bubble), and since the financial sector was profiting from this procedure through the Securitization Food Chain, they were becoming vastly wealthy and developing a thirst for making extremely unwise bets and trades because of the immediate profit potential.

Inside Job - Summary - Part III: The Crisis -

10) The bubble bursts. As previously mentioned, the new mortgage lending system allowed the financial sector to extend, trade, and bet on extravagant loans and pass on the risk of such action to another party in exchange for a hefty commission.

The system incentivized destructive financial behavior.

11) A significant percentage of the debts being traded could not be repaid, neither by the borrowers in the public sector or the lenders and traders in the financial sector.

Everyone was trading immediate profits for promises to pay debts with money they simply did not have, and the crisis occurred when it came time for everyone to pay - and no one could.

12) The result? An incredible, sweeping wildfire of foreclosures and bankruptcies.

The people lost their illusory homes and their previously tangible jobs. The financial sector lost their businesses.

A financial base had been removed and the contagious crisis was spreading around the globe.

The US government claimed that if these major financial institutions - that caused the crisis - were allowed to fail, the effect on the global financial system would be catastrophic.

The US government said these firms were 'too big to fail' and paid out several hundred billions of taxpayer money to save these firms.

The unemployment and inflation from these rescues is still accumulating today.

Inside Job - Summary - Part IV: Accountability -

13) In a nutshell, many of the leaders in the financial sector were brought before the United States Congress to testify - to explain their behavior and account for the global financial crisis that resulted.

Most of these individuals either did not explicitly accept responsibility or did not show much concern for their actions.

14) In addition to relieving themselves of responsibility for their lead roles in the global financial crisis, many of these top-level executives were anointed with massive severance packages and corporate bonuses.

Inside Job - Summary - V: Where We Are Now -

15) In a word, the pattern of financial dominion that began in the 1970s is continuing today, is characterized by a widening wealth gap between the top one percent and everyone else, as well as a deepening degree of global financial instability - systemic, corporate, and personal.

The top financial heads are rising from the top of the pyramid into the lofty airs above the pyramid, while the majority is sinking into the ground. What's more, the financial and government players that combined to lead the global financial crisis - are still in power.

Full Transcript

Thank you for posting

I will share my comments once I watch the video since I have not seen this one yet. I appreciate that you also took the time of providing a detailed description of the video which is very rare around here.

reply to post by Corruption Exposed


Thank you sir

I'm sure you won't be dissapointed.

such an amazing documentary saw it awhile ago

reply to post by mekhanics


Watched this a while ago and must say, it's what the person who doubts that banking institutions and government collusion is happening.

Matt Damon narrrates, which he does well.

A lot of big players in this doc. Telling it like it is** I mean honestly, I was surprised this was played in theaters although I doubt nation-wide.

Great doc. for the grudgers who won't believe that there is collusion of a banking, finacial, political interests.

After watching this, I suggest - What Happened to our Dream of Freedom - A doc. from BBC. But gets alittle deeper into how this happened, put a lot of pieces together for me.

i dont have enough swear words or energy to scream them as much and as loud as I'd like. i hate money more than i can express. people have always been and will always been vulnerable to power and money, but people need to be held accountable, end of story. and even then, the corruption won't end but it might start us off in the right direction.

the question is - does the world, our society, have the fortitude to over come this cancer?

If anyone wishes to download the full wide screen HD version of this (575 Mb mp4) go here:

www.theotherschoolofeconomics.org...

Look for a link that says: “right-click on the mouse and save the mp4 from here“

This is the complete film (1 hour 49 minutes).

This will allow you to burn it to a DVD to give to friends.

DVD Flick is a popular free (but slow) DVD burning program.

You can also simply watch the full film there as well (you might have to update your flash player).

A retired police officer, Ray Lewis, at the occupy wall street protests always carries a sign urging people to watch this film.

I suspect that I wasn't the only one who became suspicious as soon as I noticed "SONY PICTURES CLASSICS" in the beginning of this film...

This search will give you some clues if you need them...

So I went to Amazon and started reading some of the one star reviews to see what people are REALLY saying about this film:

How do you miss the elephant in the room?

How do you do a film on what caused the 2nd Great Depression and not point a finger at the Federal Reserve, a group of the biggest banks you've all heard of by their various names? How do you not point to government policies encouraging loaning money to people who you'd know, if you actually LOOKED at their finances, couldn't pay when times got tough? How do you not point to the roles of Fannie Mae and Freddie Mac in the failures? How do you take the words of criminals such as Eliot Spitzer and Barney Frank, the latter who obviously manipulated much of this? This film smelled of an immature and deliberately limited approach of "greed is bad," complete with hookers and blow.

This failed to show how government manipulation made problems WORSE, and instead tried to blame everything on "deregulation." The editing was also very sneaky. At several points, the interviewer of people who were admittedly thugs asked a question or made a snide comment, then the interview was cut away from, so that the response, if any, was skipped. I agree that said thugs were contributors to the problem, but the aim seemed to be to pretend that they were the whole problem, and deregulation was the cure. To pitch that is to ignore all the government-sponsored rip-offs that occurred between 1933 and 1980 (for more complete info, read Joe Plummer's "Dishonest Money.")

Frankly, I agree with 80% of what this film had to say. Unfortunately, it misses or ignores the most important 20% I've tried to address above, and uses some fairly typical anti-market propaganda to cloak the obvious truth: the government hand washes the bankers' hand, and the bankers' hand washes the government hand. This is the REAL story of the failure of republic.

You cannot expect governments to protect you from the "evil bankers." The government will coddle them and help them screw you every time. The only chance you have against the "evil bankers" is a truly free market, in which those bankers cannot use the violence of the state to manipulate you. It's no accident that the two great depressions, all the greatest wars and violence, and the blessings of modernity stolen from us have all happened since the institution of the US Federal Reserve system. THAT is the real story. Review

Leftist Lies and Propaganda

What do you get when you cross george soros, barney frank, and matt damon? Two hours of propaganda. When discussing the financial crisis, if fannie mae and freddie mac are bit players in your story then you are stacking the cards unfairly, and that's what happened here. there was so much biased garbage that i can't even see straight but george soros shared at least one untruth that i remember. Other than that, this is either the gospel for progressives, socialists, and communists, or masochistic porno for right-wingers and the logic-minded. Review

This "documentary" protects the guilty

Watcher beware. This movie is a diservice to all Americans. The intent of this movie is to mislead you into blaming the wrong people. There is no mention of the real culprits. Fannie Mae and Freddie Mac, Alan Greenspan and Ben Bernake are resposible for the housing crisis.

...the movie is misleading because it never explains the cause of all the abuse and fraud.

...it portrays the collapse as a result of too much greed and not enough regulation. When nothing could be further from the truth. The housing bubble is a function of government getting their hands into the free market and distorting it. If the movie doesn't say that, then their message is aimed at misleading you. This movie is just going to make the problem worse.

Read "Crash Proof 2.0" by Peter Schiff. it was written before the housing crisis and predicted it with great detail. It even included the bankruptcy of GM. He knew the crisis was coming because he understands money and the roll of the federal reserve. Other economists also saw it coming, most were Austrian economists. They understand the boom and bust cycle. Review

Many of the reviews at IMDB say the same thing as well:

Political Propaganda Masquerading as a Serious Documentary

"Inside Job" whitewashes the role of government-sponsored Fannie Mae and Freddie Mac in the financial debacle.

"The financial system corrupted our political system," actor Matt Damon narrates at the end of the film, "and plunged the world economy into crisis." "In fact, the movie has it exactly backwards."

Reviews have neglected to mention the filmmaker's political activism. Ferguson, who in fact is not a journalist and contributed more than $220,000 to the Democratic Party and Democrat candidates. This film is political propaganda masquerading as a serious documentary. 100% biased.

One ends up with the impression that it could have all been prevented had we listened to Barney Frank! I feel sorry for the many people for whom this "documentary" will the only view they have on what happened. It makes this a "predatory documentary". Review

Just what exactly is meant about "Inside", eh?

...a piece of propaganda that Goebbels himself would have been proud of. I watched open mouthed as the political bias of the makers was laid bare for all to see, they must really think we are moronic. Review

I watched this about a year ago, and as the poster above has stated, i also was amazed that the federal reserve and key government figures were not even mention.

No one been sent to prison for what happen, and this quote is spot on.

It's no accident that the two great depressions, all the greatest wars and violence, and the blessings of modernity stolen from us have all happened since the institution of the US Federal Reserve system.

The federal reserve has to be stopped for not just america sake, but the entire world.

Yeah its a well made documentary but like the posters have said above, they failed to look at the root cause of the problem which is the fed and how the money is made. Here's another documentary on banking, this time looking at the UK banking system, but covers central banks and how they work and what needs to be done.

Check it out - 97 % Owned

I wonder how some people haven't seen it.

Because it has been translated and shown in TV in Iran.

Incredibly they've won the best documentary feature oscar award

Listen to what Charles Ferguson has to say about the Financial Executives

reply to post by mekhanics

If those are the only issues it addresses then its terribly incomplete.

Either they dont understand or they wont dare address the 800 pound gorilla in the room.

The "Federal Reserve" is to blame for most of our financial problems. Although this failed experiment was created to "stabilize the economy", we have seen our worst financial disasters since its creation from the Great Depression to a Worldwide economic collapse.

The next collapse will be even worse.

Saw this, last summer, I believe(?) Excellent show - told everyone I could to go watch it.

S&F for raising awareness, again.

This movie goes a lot more into the root cause and the history behind the iterations of central banking and fractional reserve banking.

I thought this to be very interesting piece and more informative than the OPs movie. Personally I believe the OPs movie goes more into the symptoms than the causes. Both should be watched.

Hope you guys give this a watch. It is well worth it.

Great videos and I love your summary, your bullet points attention-getters.

Deregulation and especially the 'securitization' led to this. We let banks lump all their bad loans into a security they could palm off onto other investors, who could further securitize those securities and palm them off again. Deregulations even allowed the securities rating agencies be merged with the banks, a serious conflict of interest.

Excellent post, I wish more people would pay attention to this, as we are undermining the attempt to fix this problem by still allowing the big Wall Street banks to continue to bribe lobby for further deregulation or stop Wall Street Reform / repeal of Dodd-Frank. It's a shame there are some people out there who will just slap a label on this, calling it "leftist propaganda".

abolish the federal reserve banking system and in so doing save Humanity from slavery.


not a one liner

Originally posted by Dodger13
Yeah its a well made documentary but like the posters have said above, they failed to look at the root cause of the problem which is the fed and how the money is made. Here's another documentary on banking, this time looking at the UK banking system, but covers central banks and how they work and what needs to be done.

Check it out - 97 % Owned

Many dont know that the same crap game with same results were going on in UK at the same time. Some of those blamed in US were just local bit players in a larger game. Goes past the FR to world banking.

Consider that the EU and the euro needed the american $ to become weak in order for them to servive.