Wednesday, October 27, 2010

The inside job that wrecked the economy

Inside Job -- a powerful documentary about how the country wound up flirting with financial ruin -- may leave you wondering why citizens of the U.S. haven't taken to the streets to protest against the conniving financial types and willing government officials who brought about this man-made catastrophe. Unlike global warming, there's no debating the fact that the economic crisis results from human activity. Couple avaricious behavior with a lack of government regulation, and you land the economy in a hell stoked by the fires of derivatives, credit default swaps, subprime loans and other financial sleights of hand. Director Charles Ferguson, who examined how we got into the Iraq war in (No End in Sight), does an admirable job of clarifying complex financial matters. He works hard to make the whole business understandable to those of us who have difficulty balancing a checkbook. He also brings an appropriately aggressive style to interviews. Inside Job is tough, but it's no cheap shot. I won't name all the villains in this well-crafted piece, but you'll probably recognize many of the players. Inside Job demonstrates that, at root, a wanton disregard for the common good saddled us with the current troubles. To further stoke the fires of outrage, the movie also reminds us that those who benefited most from all the shenanigans seem to have suffered the least -- at least as far as their pocketbooks are concerned. Disgusting.

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