A documentary about the massive financial crash of 2008 which cost more than $20 trillion and was the biggest global finance crash since the great depression of the 1930’s. At the beginning of 2008 the public, generally speaking could not have imagined what would have happened to the economy by the end of the year.
Inside job explores what actually happened during this period to reveal the corruption and the economic equilibrium which caused it to happen in the first place. The documentary is divided in sections which ultimately covers the background effects on the economy, jobs, housing, public welfare and education.
A thought provoking film presented by Matt Damon which was filmed in a number of locations including the United States, England, France, China and Iceland.
A truly great and important documentary correctly narrated by Matt Damon. It shows what has gone wrong in the world the last decades, particularly in the US where the national debt has spiraled out of control. Every time I watch it, I am astonished. Especially since the results of the biggest financial crisis are next to nothing in terms of prosecution, regulation and taxation, in the US. Do Americans live and vote by the "American dream" by continuing to support that the rich are getting richer, the middle-class is decreasing and the poor are getting poorer?
I can´t believe that so many people are placing blame on the homeowners as if they had any responsibility about this.
As the documentary correctly points out. For 40 years after The Great Depression, were no global crisis like this one. With all the Government regulation that was placed, banks made responsible loans to people that could afford them. If they didn´t, the loans were not given. Pure and simple.
After deregulation, the financial system began this complex loan system that many of them did not quite understand and started granting loans to people they knew could not afford.
But how could the average joe know? For decades, we always thought that banks would not give loans to people that could not afford it. The banks, accountants and economic advisers are the ones who have the "know-how" about it, not the average joe.
The documentary did not blame homeowners because:
1. They did not benefit from this like the people in Wallstreet