You approve a bunch of subprime mortgages, package those loans together into a CDO, then pay to get your CDO a “AAA” rating. Then you sell that CDO to a retirement fund, and take out a policy with AIG…
Ok, I lost you. Let me try again.
You buy a bunch of dogmeat. Then you pay somebody to label it prime rib. So you sell it as prime rib, and make big bucks, because dogmeat is cheap, but prime rib is expensive. That’s bad enough. But after that, you call up a bookie and place a bet on whether the person who eats the dogmeat you sold as prime rib will get sick or not. So that when they go to the hospital, you get paid.
It is seldom that Wall Street (if ever) provided us with such an intricate and out of the world financial engineering that movies and after movies could now be made to commensurate the 2008 financial catastrophe. No one fully understood the plots behind the many stories and the realities that all the very top people had been saying. What we all in the world understand is that we have become poorer as a whole and as a result of it (with the exception of some insiders). True or false? You decide! … more
If you take Matt Damon's word for it (he's the narrator for the vastly overrated INSIDE JOB), then you'd quite possibly find your personal income regulated. That's right: the actor who makes about $10 million dollars per picture (plus some back-end residual income, no doubt) may think you're making too much money, and he'd rather have the government step in to make sure that you're not making more than your fair share. A guy who gets paid serious scratch for … more
12A - 120mins - Documentary/Crime - 18th February 2011 The financial crisis of 2008 hit everyone hard of that there is no doubt and Inside Job seeks to understand the causes of this from how the crisis came about to who was responsible and what is being done to try and bring those people to justice. The overawing feeling whilst watching this movie is one of disgust, frustration and anger at the people who instigated the downfall of so many companies and who led to the destruction … more
It's a documentary format kind of film and you'd have to be very interested in the 2008 financial meltdown to enjoy this film. Or, if you are working or had worked in the financial industry, then this will definitely interest you. The film may have addressed what went wrong, but it has not quite demonstrate how the financial world has changed since then. Those working for Goldman Sachs, Citigroup, Morgan Stanley, etc, etc, are still making huge bonuses after their irresponsible practices … more
From Academy Award® nominated filmmaker, Charles Ferguson (“No End In Sight”), comes INSIDE JOB, the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs. Through extensive research and interviews with major financial insiders, politicians and journalists, INSIDE JOB traces the rise of a rogue industry and unveils the corrosive relationships which have corrupted politics, regulation and academia. Narrated by Academy Award® winner Matt Damon, INSIDE JOB was made on location in the United States, Iceland, England, France, Singapore, and China.