The Film "Inside Job": Summary

In the film “Inside Job,” Matt Damon narrated a documentary that tells us the unstable systems led the
global economic crises of 2008. Since the global financial meltdown happened in 2008, it resulted in
the damage to the environment, and it caused millions of citizens to lose their jobs and homes. The
documentary showed the institutions that caused the crises, the people involved, and what they did.
This documentary depicted the people who caused the financial crisis, especially the bureaucrats who
belonged to the Bush administration and famous economics professors refused to interview such as
Harvard University and Columbia University. In September 2008, Lehman Brothers filing for
bankruptcy and the collapse of the largest insurance AIG shook the US economy. The global stock
market will soon wane with Wall Street shock. The world has been inundated by tens of trillion dollars,
and the global recession has continued.

As the bubble burst, house prices and assets plunged, 30 million people fired, and 50 million people
became poor. However, this was not a mere accident. It was an obvious crime created by the
financial industry out of regulation. The indiscriminate expansion of the US financial community, which
began in the 1980s, led to a serious and continuous financial crisis. At that time, the damage was
bigger, but Wall Street made more money. The film began with the story of Iceland, which is called
the Scandinavian country of Scandinavia and has received worldwide attention. In 2008, the financial
crisis in the US caused the stock price to fall by 90% in one day, the monopoly of monetary value, the
bank loss of 100 billion dollars, and the per capita national debt of 400 thousand dollars. Interviewer
Professor of economics at the University of Iceland criticized the government’s deregulation of the
economy, the privatization of the banking sector, the bubble economy, and the moral hazard of
financial firms and politics.

The global financial crisis in the United States has been the beginning of the crisis as the financial
management supervisory bodies and government regulations to control and supervise financial
institutions have been relaxed and their policies have been largely regulated for their own interests. It
dated back to the 1980 Reagan administration. In the Clinton administration, as the legislation to
separate investment banks and commercial banks were abolished, Wall Street was able to easily
create market bubbles without any constraints and complex “derivatives” without any restrictions,
(AAA grade) bonds to earn money. As soon as the bubble of the market is turned off and the garbage
debt is revealed, thousands and millions of innocent citizens lose their jobs and homes, and the
damage is not only to the American people but also to the people of China, Europe, and Asia to which
the economy and finance are connected. I could not help it. Only the ‘top 1%, enjoying their own, the
festival of those who have’, rather they are absurd to get more money and social status due to such
opportunities. The film told us that the world is lack of interest in moral life.

The prominent economists who wrote letters and interviews to suit the tastes of financial lobbyists and
Wall Street CEOs, politicians, and possessors who are in charge of the financial crisis and who have
encouraged the common people, No one was responsible for any of these events. Rather, the
President changed and changed to the current Obama administration, but those who are responsible
for the financial crisis are now the mentors of the administration. The financial crisis was a disaster
that could be avoided. In addition, it was a huge fraud that cost more than $ 20 trillion. Nonetheless,
no one has gone to jail until three years later. Therefore, we hope everyone can agree that there are
some people to be accountable and that restoration is more important. The serious thing is that this is
not just a matter for the US financial community. The financial community lobbied the political world in
favor of their own legislation, used various drugs and prostitution as corporation cards, and claimed
that their money was “legitimately” The uncomfortable truths are happening all around us. The
financial crisis may recur when such moral hazard, absurd profit structure, and system do not improve.

Although countries around the world are strengthening regulation and supervision to prevent the
recurrence of the economic crisis, various system reforms are being pursued but attempt to stimulate
the economy by ignoring the automatic control function of the market and using large fiscal
expenditures. It is necessary to ponder whether or not it will cause a bigger crisis.

The financial industry was highly paid. Even though the banks failed, the back executives were
making more dollars in the period. Due to the economic depression caused by the financial crisis,
citizens lost their jobs and die of hunger. However, the so-called financial elite of Wall Street sucked
cocaine from the club every night and spent $ 1600 per hour prostitution from company money and
enjoyed a luxurious life. It was shown to the audience without a single sensor. The financial system
designed to make human life easier has been completely altered for the people in the system.
Therefore, this society has been running to meet the luxury life of financial people by sacrificing the
citizens who work hard for the social economy. People in the financial world did not worry about the
financial company’s money, but they used black cards for prostitution. In order to hide these details,
they made a receipt for counterfeiting the money prostitution for computer repair and financial
research. Despite the financial regulations, the underlying system remains unchanged.

The main detainees who have caused the world recession with the US are still in power, and there
are no hope citizens even though they are struggling. The executive’s pursuit of excessive material
needs and neglect inner mental value. Therefore, we hope that this document should change this
situation and the wrong world.

Works Cited
1. Ferguson, C. (Director). (2010). Inside Job [Documentary]. Sony Pictures Classics.
2. Johnson, S. (2010). The Quiet Coup. The Atlantic, 305(2), 39-50.
3. MacLean, N. (2017). Democracy in Chains: The Deep History of the Radical Right's Stealth
Plan for America. Viking.
4. Stiglitz, J. E. (2010). Freefall: America, Free Markets, and the Sinking of the World Economy.
W. W. Norton & Company.
5. Sorkin, A. R. (2010). Too Big to Fail: The Inside Story of How Wall Street and Washington
Fought to Save the Financial System—and Themselves. Penguin Books.
6. Krugman, P. (2012). End This Depression Now! W. W. Norton & Company.
7. Taibbi, M. (2010). Griftopia: Bubble Machines, Vampire Squids, and the Long Con That Is
Breaking America. Spiegel & Grau.
8. Roubini, N., & Mihm, S. (2011). Crisis Economics: A Crash Course in the Future of Finance.
Penguin Books.
 9. Barofsky, N. (2012). Bailout: An Inside Account of How Washington Abandoned Main Street
While Rescuing Wall Street. Free Press.
10. Shiller, R. J. (2008). The Subprime Solution: How Today's Global Financial Crisis Happened,
and What to Do about It. Princeton University Press.

Need Help With The Assignment? GET HELP