The new movie, "Inside Job," is a strong documentary about the meltdown of the global economy.
This well made film clearly explains in great detail how greedy investment bankers nearly destroyed our economy.
If you're at all curious about how unchecked, unethical speculation led to the collapse of so many huge investment companies....you should see this movie.
"Inside Job" won't make you feel good; in fact, it may make you downright angry at the investment bankers who bilked their own customers. But you're bound to take away a basic understanding of how we got into the huge mess we're only beginning to climb out of.
Sub prime loans were just the beginning. Those bad loans were bundled into securities and then certified as sound investments by rating agencies that were paid to misrepresent them. Which means...the investment companies had great ratings even when they were on the brink of collapse.
The film's main argument is that deregulation of the financial industry led to out of control speculation, a ponzi scheme destined to implode.
Even today after the bailouts and after the lives of millions of people have been irrevocably damaged, there is still very little reform.
Why? The filmmaker believes it's because so many people from Wall Street are part of the federal government.
"Inside Job" isn't exactly fun to watch, but this is documentary filmmaking at its best.