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« Matt Taibbi - Obama Goes All Out For Dirty Banker Deal | Main | Wall Street Aristocracy Got $1.2 Trillion In Secret Loans From Bernanke's Federal Reserve Slush Fund (VIDEO) »
Saturday
Aug272011

INSIDE JOB - How Wall Street Became A Criminal Enterprise And Took Over Government - Feature Film Trailer, Oscar Winner 2011

Further reading...

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Bonus clip...

Director's Statement

This film attempts to provide a comprehensive portrayal of an extremely important and timely subject: the worst financial crisis since the Depression, which continues to haunt us via Europe’s debt problems and global financial instability.  It was a completely avoidable crisis; indeed for 40 years after the reforms following the Great Depression, the United States did not have a single financial crisis. 

However, the progressive deregulation of the financial sector since the 1980s gave rise to an increasingly criminal industry, whose “innovations” have produced a succession of financial crises.  Each crisis has been worse than the last; and yet, due to the industry’s increasing wealth and power, each crisis has seen few people go to prison.

In the case of this crisis, nobody has gone to prison, despite fraud that caused trillions of dollars in losses.  I hope that the film, in less than two hours, will enable everyone to understand the fundamental nature and causes of this problem.  It is also my hope that, whatever political opinions individual viewers may have, that after seeing this film we can all agree on the importance of restoring honesty and stability to our financial system, and of holding accountable those to destroyed it.

 

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Reader Comments (33)

Aug 24, 2010 at 1:01 PM | Registered CommenterDailyBail
Aug 24, 2010 at 1:01 PM | Registered CommenterDailyBail
Aug 24, 2010 at 1:02 PM | Registered CommenterDailyBail
Cannes 2010: ‘Inside Job’ Director on How Wall Street Has Become a ‘Criminal Industry’

http://blogs.wsj.com/speakeasy/2010/05/13/cannes-2010-inside-job-director-on-how-wall-street-has-become-a-criminal-industry/
Aug 24, 2010 at 1:02 PM | Registered CommenterDailyBail
“You were robbed. There was a bank robbery. And the bank robbery wasn’t done by someone who came in with a gun, it was the bank president.” That is the conclusion of Oscar-nominated filmmaker Charles Ferguson (“No End in Sight”) whose doc, “Inside Job,” depicts one of the largest heists in history, breaking down the complexities that led to the rise of an out of control industry and the financial meltdown of 2008, plunging the world into crisis at a cost of $20 trillion and along with it millions of people’s jobs, homes, and dignity.

http://www.indiewire.com/article/cannes_doc_says_the_financial_crisis_is_an_inside_job/
Aug 24, 2010 at 1:03 PM | Registered CommenterDailyBail
Bacteria survive space travel between planets...

http://www.bbc.co.uk/news/science-environment-11039206
Aug 24, 2010 at 1:04 PM | Registered CommenterDailyBail
Existing Home Sales Hit 15-Year Low; Housing Market Weakens

http://www.cnbc.com/id/38830968

Story, not video...
Aug 24, 2010 at 1:07 PM | Registered CommenterDailyBail
Why nobody wants to buy a house

Commentary: With government bribe money gone, so is any sane demand

http://www.marketwatch.com/story/why-nobody-wants-to-buy-a-house-2010-08-24
Aug 24, 2010 at 1:08 PM | Registered CommenterDailyBail
George Soros, wow, it is a horror film.
Aug 24, 2010 at 1:31 PM | Unregistered CommenterZ
Bonus Clip...Obama didn't give us a single major financial "reform". ummmmmm, Obamacare??? It is not reform but it will have huge negative financial ramifications.
Aug 24, 2010 at 1:34 PM | Unregistered CommenterZ
I've noticed that not too many people complain while the party is going on but once the music stops people want blood.

If it gets bad enough there will be tanks in the streets and tear gas in the air. The people wont be passive in the face of starvation and the wealthy wont go down without a fight.

Unless, that is, history is bunk as Henry Ford taught.
Aug 24, 2010 at 8:22 PM | Unregistered CommenterJames Street
James...I've noticed that not too many people complain while the party is going on but once the music stops people want blood.

The party is still going on for the bankers and many aspects of the government...Can you not hear the complaints in here and everywhere?
Aug 24, 2010 at 8:42 PM | Unregistered CommenterZ
There is an old Jewish proverb which says, "tell the truth and run."

Emily Dickinson advised telling the truth obliquely.

Sometimes I do one and sometimes the other and sometimes, like everyone else, I lie to make people feel good.

What do you want to hear?
Aug 24, 2010 at 8:53 PM | Unregistered CommenterJames Street
@ James,

"Unless, that is, history is bunk as Henry Ford taught."

Henry was wrong!

Many times in the past people have faced situations similar to what is happening today to the American middle class.

Then as now the ruling elite always manage strip the people of wealth and the power to control their future and exist without fear of poverty. That the elite rulers never realize when they have exceeded the abuse level the people will tolerate always seems to bring about their about their downfall. In the past the rulers always had their military to beat the people into submission and prolong the inevitable end of their rule. But the end always came and so it will come again.

Today I don't think they can count on the military. Thats probably why the military industrial complex is working overtime to get battle robots, airborne, ground based, and marine into production. I think they're too late.

I think the people are fed up, of the FED, of a totally corrupt government, of thieves on Wall Street living like kings while people lose their homes, their jobs, and everything they have worked for.

I think the American experiment has failed, I just hope I live long enough to see if we can do better the next time around.
Aug 24, 2010 at 10:06 PM | Unregistered CommenterSagebrush
Ford was talking about tradition not history when he was trying to sell his car to the horse and buggy crowd.
Aug 24, 2010 at 11:46 PM | Unregistered CommenterZ
I think the American experiment has failed, I just hope I live long enough to see if we can do better the next time around.

##

I'm afraid to say that i agree...i think the verdict is in...but can we fix it....that's what i'm fighting for...still optimistic but the next few years will tell the story...
Aug 25, 2010 at 1:04 AM | Registered CommenterDailyBail
I don't know Z, sounds to me like he didn't like history.


Henry Ford US automobile industrialist (1863 - 1947)
I don’t know whether Napoleon did or did not try to get across there and I don’t care. I don’t know much about history, and I wouldn’t give a nickel for all the history in the world. It means nothing to me. History is more or less bunk. It's tradition. We don't want tradition. We want to live in the present and the only history that is worth a tinker's damn is the history we make today.
• Interview in Chicago Tribune (25 May 1916)
Aug 25, 2010 at 1:13 AM | Unregistered CommenterSagebrush
Anyone see yesterday's action in soybeans, wheat, corn, etc.?

You can't mess with prices the way Wall Street does and not draw blood eventually. These guys are playing with fire.

I'm with you DB. Things can and will change. I imagine great segments of the world wait for Americans to wake up and fight back. We will. Of that you may rest assured.
Oct 9, 2010 at 9:17 AM | Unregistered CommenterCheyenne
We're finally getting the truth in limited distribution form. The US media and govt has given us their version which is Wall Street's version in which "there's enough blame to go around" as frmr SecTreas Hank Paulson said. In their version of the story everyone is to blame. A few at the top were included in their lists like 2 or 3 CEOs but then they throw in Fannie and Freddie to attack the Democrats and people who got the screwed up mortgages. This affixes the blame away from those most responsible and is dishonest. I hope this film gets a large distribution if it truly exposes what happened.
Oct 9, 2010 at 11:22 AM | Unregistered Commentercurtis
PS. Cheyenne
Just before oil went to $140/barrel there had been a bailout. (i only found one article about the link at the time)
The Fed bailed $1.5Trill worth of toxic assets. Where did that money go? It didn't go to loans to help out the economy.
Oct 9, 2010 at 11:37 AM | Unregistered Commentercurtis
curtis--

Help me out here. I thought the 1st bailout was BSC, which JPM took over for $30B in 3/08. The next bailout was TARP, $700B from Treasury in 10/08.

The Fed, what with its QE (think PPIP and ABCDPPPLMQ, etc.) didn't get involved til late '08, as far as I know.

So I'm not sure what you're talking about, as oil went to $147 in summer '08, as I recall it.

You are right about Wall Street's version, however, as that is the only channel on TV. So what brings a bright lad like yourself to these parrs?
Oct 9, 2010 at 3:00 PM | Unregistered CommenterCheyenne
Confusion over the Bailouts...Where have I heard that before...oh yeah...

http://www.youtube.com/watch?v=GNGc9zmpK5M
Oct 9, 2010 at 3:16 PM | Unregistered CommenterZ
curtis--

As to your ultimate question--where in the sam hill did the money go--ben bernanke ain't sayin' short of a court order.

And here I must remind the blogosphere that Bloomberg vs. Fed. Res. is still pending. Unless the Supreme Court grants cert and reverses, Bennie's gonna owe us some papers at a time certain. Then again, the Squid's tentacles are most surprising in their range.

Watch this one closely, as it will reveal all about our governance.
Oct 9, 2010 at 3:23 PM | Unregistered CommenterCheyenne
Help me out here. I thought the 1st bailout was BSC, which JPM took over for $30B in 3/08. The next bailout was TARP, $700B from Treasury in 10/08.

The Fed, what with its QE (think PPIP and ABCDPPPLMQ, etc.) didn't get involved til late '08, as far as I know.

---

yes...1st bailout was bear stearns...the FED guaranteed $30 billion in assets to make the purchase happen...those assets went into a vehicle called maiden lane 1...

then the FED created various liquidity programs to help the other investment banks and opened the discount window...wide...hell they blew out the window and installed a 20X30 ATM open 24/7...they were accepting toxic assets in exchange for treasuries...which they could then leverage X 15 and do whatever they pleased...

i didn't follow the oil bubble very closely...but in my view everything over $100 on the run-up was nothing but a short squeeze...sure longs piled on...but it ws mostly panicked shorts buying back contracts...all the way to $147...and then 6 months later we were in the $40s....

not a very good show by the free markets especially for such a valuable commodity...that kind of thing should not happen...
Oct 9, 2010 at 7:13 PM | Registered CommenterDailyBail
DB--

I may have gotten to the party late, but my recollection is that Fed giveaways, er, easing, began after TARP passed. I'm pretty sure, for example, that PPIP was after. And, as the resident doctor has noted, CPFF started 4 days after TARP passed.

As for oil, I wouldn't touch it with Hitler's dick because I don't get it. I just remember the unemployment carnage that $150 oil meant for northern Indiana, the RV capital of the U.S.
Oct 9, 2010 at 8:58 PM | Unregistered CommenterCheyenne
TAF or was it TALF? and a few other programs got started right after bsc...so the stealth bailout began in march...

and yes ppip was after tarp...but it has remained a pretty small program...fasb rule change took away the need for the ppip...here's some background...

The Great Unclog of 2009: Industrial Strength Drano, Anyone?

http://dailybail.com/home/the-great-unclog-of-2009-industrial-strength-drano-anyone.html

---

http://dailybail.com/home/the-obama-bank-rescue-program-ppip-is-already-failing.html

http://dailybail.com/home/more-reason-not-to-fear-the-ppip-jamie-dimon-talks-some-shit.html
Oct 9, 2010 at 9:25 PM | Registered CommenterDailyBail
This is great on ppip...did you see this one...

Socialist Pinko Punk Tim Geithner Stars In 'Leverage Me Tender' »

http://dailybail.com/home/socialist-pinko-punk-tim-geithner-stars-in-leverage-me-tende.html

1 minute funny explanation...
Oct 9, 2010 at 9:26 PM | Registered CommenterDailyBail
TAF got started at the end of 2007. It was ramped up massively around Sept. 2008 (600-900B per mo). CP facility begins in October 2008. TALF was started late (NOV?) 2008 as an attempt to restart the asset-backed security market.

Three things did in PPIP. One, participating banks would come under exec. salary restrictions, regardless of whether they had paid back TARP. Two, the FASB change DB mentioned (why bother?). And the third thing, possibly, is the massive negative reaction Treas. and FDIC got from the (blog-reading) public on the program. Some of the public comments posted by FDIC are just hilarious. I'll look for a link.
Oct 9, 2010 at 10:03 PM | Registered CommenterDr. Pitchfork
FDIC has apparently zapped the public comments pages (wayback machine?).

But Zerohedge highlighted some. So did Wall st. Pit. Funny stuff (like, "you are all traitors...and I look forward to the day when the revolution comes")

http://zerohedge.blogspot.com/2009/04/fdic-publishes-public-comments-on-ppip.html
http://wallstreetpit.com/3794-fdic-posts-public-comments-on-the-legacy-loans-program
Oct 9, 2010 at 10:19 PM | Registered CommenterDr. Pitchfork
that letter from benn dover was classic...great link...
Oct 10, 2010 at 12:12 AM | Registered CommenterDailyBail
I would argue that the role of the banker is to facillitate trade between two or more productive members of
a society, and not to act as an agent for a gang of shiftless slobs who neither invent, build or maintain the
things in this life that make living a joy.
I would hope that this film would prove to highlight the poor faith of banks and bankers, and to induce
the millions to action in the fight against criminal combinations. In my mind, RICO is an apt body of
law to use against business combinations that rival the power of a government.
It may also be helpful to send a few suits and ties to the gallows, but that is a different subect.
Dec 13, 2010 at 1:16 AM | Unregistered Commenterewkeane
agreed...and thanks for the comment...
Dec 13, 2010 at 6:01 AM | Registered CommenterDailyBail
Thank you DB!
Aug 24, 2011 at 12:13 AM | Unregistered CommenterDave

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