Not to be confused with the heist/caper movie, Inside Man (which in a unique way is similar to this one), Inside Job is a brilliant documentary by Charles Ferguson on the financial crisis of 2008. It is an unflinching look at the seeds of the problem that were planted during the Reagan administration in the early eighties and supported by every government since- Republican and Democratic. The movie is impartial in doling out the blame to both parties and to pretty much every one in Wall Street.
It implicates every single player in the game- investment banks, rating agencies, government, academics (yep academics) and pretty much everyone. Sadly though, it highlights that much of the problem is still in the system in terms of the same CEOs, same administrators, same rating agencies, same everything. What guarantee do we have as a nation to the pension and employee funds that it wont happen again?. After all, aren’t sequels common when the first movie is such a big financial hit?
I strongly urge everyone to see this documentary. It is a must watch.
And if you want a better picture of the puzzle, I can recommend the following books:
1. Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem–and Themselves by Andrew Ross Sorkin.
2. The Big Short: Inside the Doomsday Machine by Michael Lewis.
3. Crash of the Titans: Greed, Hubris, the Fall of Merrill Lynch, and the Near-Collapse of Bank of America by Greg Farrell.
4. Fool’s Gold: The Inside Story of J.P. Morgan and How Wall St. Greed Corrupted Its Bold Dream and Created a Financial Catastrophe by Gillian Tett.
Each of these books offers a different perspective and put together shows the horror that was and still is the financial crisis of this decade.