Review Of Inside Job Movie Review

Inside Job is an excellent documentary which deals with the banking crisis and all that went along with it. It is an indictment of those CEO’s and financial traders who risked the market without any sort of scruples and who also demonstrated a tactical acumen to destroy others without any qualms or compunction.
Principally the documentary focuses on the disaster which occurred when sub prime loans began invading the market. This undoubtedly led to huge problems when those who began buying houses which they couldn’t afford and started losing their jobs ended up defaulting on their loans with the result that banks such as Fannie Mae and Freddie Mac ended up bankrupt and had huge liquidity problems.
This however did not deter the CEO’s of banks such as Lehmann Brothers and Barclays in amassing huge bonuses for themselves which led to a culture of excessive bonuses and which practically ruined the banks which were under the cosh in more ways than one anyway. The documentary also focuses on the incredible underhand dealing which took place at these banks where targets were pushed to artificially inflated proportions to enable bankers to continue cashing in on their incredible bonuses.
As the recession started to bite, the first banks began going under with the result that several employees who had worked honestly and without any qualms ended up without a job. This fuelled massive unemployment everywhere but the CEO’s of the financial institutions who had destroyed the economy did not mind at least one bit as they had made a huge killing and this also meant that they could sit out the recession. But the problem of the housing market which crashed completely was not going away anytime soon and as time went by, hundreds of thousands of homes strated to get repossessed and millions of people ended up on the street as was to be expected after such a financial disaster.
Inside Job actually describes the financial disaster as some sort of intrinsic procedure which took place inside the banks and financial institutions which were involved in the housing crash. Although this means that there was an element of self destruction in the whole situation, this was not always the case. Rather it was the work of a few irresponsible bankers and CEO’s who would look at their own pockets and find ways and means on how to maximize their bonus pot.
The documentary does also raise questions on why the regulatory framework in the financial services arena failed completely. Principally it demonstrates how governments with a right wing component such as the Bush administration in the US turned a blind eye to what was going on as most of its backers were players in the corporate arena where the billions of dollars lay. It exposes the gross corruption in Wall Street which was run like a personal fiefdom of a few irresponsible bankers who continued playing the system as if it was some sort of gambling casino. Inside Job is an eye opener on the role of those bankers and CEO’s who destroyed the financial system as we knew it and the fact is that nothing has been learnt from all this with a situation which is continuing to get worse by the day.