NUST Business School Course Code
NUST Business School
Course Code: Business and Society
Sir Irfan Abdullah
Hussain Ahmad Chauhan
Date:04 November, 2018.
Inside Job is a summary of the 2008 global financial crisis. Inside Job is an engrossing documentary about how the reckless actions of Wall Street lead to the near downfall of the financial sector and later the deepest recession since the 1930s. It is not too complex so economic beginners can easily understand it. This documentary tells us both sides of the arguments. The insiders and experts providing their point of view from their respective fields. It also tells us that who denied to interview for the movie which shows that the filmmaker was trying to portray the full picture of the crisis and not someone making a political statement.
This documentary does not support any side. It breaks into chapters for easier understanding. The film indicates at the Reagan administration’s de-regulation of the Wall Street as the first step towards the crisis. The movie states that Clinton’s administration also had a huge role in the crisis. It helps us understand financial sector and how it relates with other parts of economy and the global community.
Ferguson tries to explain what happened that cause the collapse. Most of the film explains the housing market and the bubble that came before the demise of housing prices nation-wide. We learn how the mortgage system works and who profits in these situations.
It teaches us that companies strive to become too big to fail, stealing our economy. That the same companies that loan us money secretly bet against our loan to fail and make huge profits. We can see that the AAA ratings given are just a mere opinion and that there are politics in play with how investments are rated. We see how the US collapse effects all economies around the world.
Inside Job will make you angry as how the financial corporations are stealing from the people and the government officials are not taking any action against it, the people that we elected for the prosperity of our country. The movie educates people towards what is happening in our economy on daily basis, it forces us to take action against these people eating us up. The movie tells us that change is vital and it possible, we just need to stand up for ourselves.
Inside Job was one of the first documentaries in which saw a role of interviewer in the documentary. It interviews different people who were in the crisis and some experts. The ones that were included in the crisis and were in on these crimes did not give exact answers but were mumbling and their tempers were changing whereas the experts gave a proper argument of what happened.
This movie deconstructs the complexities and the operations of the private sector for people who are outsiders. It unveils the toxic relationships that corrupted politics, regulation and academia.
It shows how a corrupt sector absorbed in greed and lust works for its self-interest, destroying the society. The one thing in the movie that I found missing was the lack of empathy for the people that suffered this catastrophe, people who lost everything to these tyrants.
This movie identifies the two factors which were the main causes of this financial collapse. First one was the Wall Street Government meaning that government had no say in this and its means of protecting its clients. This happened due to government appointing officials at major ranks from the insiders.
Second one is that the government and banking sectors disliked regulation and they did not expose the risks to their stakeholders and the liabilities of the bank.
Inside Job is clearly narrated and efficiently combines illustrations and witness explanations to help us cross the turpentine path followed by the financial institutions.
Inside Job does not enquire about the basics of capitalism and how they can result in prosperous and broken cycles that wreck generations of young lives and worsen social disparities. This movie appeals for return of regulation and going back to the right path instead of going an alternate way and ruining it more.
Inside Job is certainly at its best when analyzing the funding sector and the ‘type A’ personalities that led it to collapse. These imprudent and carefree Wall Street trainees often stretched their amoral behaviour to using prostitutes and cocaine believing themselves to be invincible to any form of legal or moral accountability.
The inheritance of the failure is that inequality is higher in the US than any other developed society and many of the banks, like JP Morgan, are bigger now than before the crisis through a process of union. Meanwhile, President Obama’s treasury team is almost entirely drawn from the financial sector.
Inside Job is troubled with the events and the outcome of the global financial crisis. But among the numerous interviews and social study, Charles Ferguson’s perceptive documentary addresses a more important issue of social concern: the contiguous acts of professional crime. Inside Job reveals the organized corruption and insincerity at the central of this most recent economic breakdown.
In addition to the inclusive analysis, one of the strengths of Inside Job is the available manner in which the dense illogic of the financial market is presented to the audience. Like a psychiatrist relaying the psychotically distorted worldview of a patient to their peers, Ferguson lays bare the insanity of the derivatives market in a cogent manner: it’s economic madness but Inside Job reveals a method to it nonetheless.
It’s the range and the intelligence with which Ferguson presents his survey of current capitalism (and its resulting crisis) that discriminates this excellent documentary. Ferguson’s tactic relies on shrewd research and his keen interviewing skills to prompt a reaction from the audience. And the result is far more effective. In its depiction of uncultured financial carelessness and greed, the disobedient harshness of Wall Street managers with their stubborn irresponsibility, and the total corruption of government and educational institutions, Inside Job offers a appropriate clarion call for justice.