Wednesday, November 14, 2012

Exploration 8: Inside Job

Inside Job by Charles Ferguson is truly a documentary that will remain in history. From my perspective it was very objective and easy to understand, even if you had no knowledge about the issue.
            Inside Job illustrates the global financial crisis of 2008. It utilizes charts, interviews and it is edited in a way that I consider makes it more effective and interesting.
There were several parts of the documentary that stood out to me like on PART ONE when they show
the growth of the financial sector from the beginning of 1970 to the early 2000s. In that period of time the average salary in the United States in every profession other than investment banking rose by 25% and the average salary in investment banking rose by 150%. I was amazed by those numbers and really made me realize the unfairness we live in.

            Another part that surprised me was in “PART IV: Accountability”, here,
many of the leaders in the financial sector were brought to Congress to testify. Not only they did not accept responsibility for their actions but many of these executives ruling the world left their companies with humongous paychecks and bonuses.  That was just astonishing to me.
How these clearly unethical people got that high in power scares me.

            "But the men and institutions that caused the crisis are still in power, and that needs to change. They will tell us that we need them, and that what they do is too complicated for us to understand. They will tell us it won’t happen again. They will spend billions fighting reform. It won’t be easy, but some things are worth fighting for.” (Inside Job)

            These were the closing words from the documentary. I thought it was an amazing quote, very powerful and effective. It definitely makes me want to take action and do something to change the system that is obviously failing.
                This website peaks in wall street and shows as what is really going on:

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