Film Review on Inside Job - How Rogue Banking caused the 2008 World Economic Meltdown
What this film is all about
I've rented a documentary film regarding the turbulent year of 2008 when the US economy collapsed, influencing other major economies of the world, shutting down multinational banks, leaving many people jobless, homeless and penniless.
I'm talking about INSIDE JOB.
It's a documentary film regarding the anomalous transactions happening inside the giant banking corporations that hugely influenced the lives of Americans that prompted them to stage the 'SATURATE WALL STREET' years later.
The massive house foreclosures, bankruptcy made the labor sector crippled and a grinding halt on big businesses left many US citizens jobless and angry.
I've been looking at the remarks that online users made right after seeing the movie. Here's what I've found 'right from the horses' mouths.'
- America,it's time to ALL OUT PROTEST against these money hungry bankers,oil barons and wall street..We need to follow places like Wisconsin and start taking over both houses,state and federal!We outnumber them and they can't lock all of us up!What are we so @#$% scared of.Get on your walking shoes and have a PEACEFUL PROTEST! (Out of the Blue)
I've been to America, as a seafarer, transporting cargoes on board commercial vessels. It ranges from crude oil, bulk and assorted goods (both non and perishable goods). Some of the Filipino-Americans, there, complained about the high-rising costs in urban housing. They even predicted that this will happen in due time. It really happened.
- I believe after family losing home, jobs, and credit cards charging more interest that there is a major problem....called power struggles.....stealing ..cheating the American public. Greedy bunch and no accountability such as jail time, prison and do penance for their time here...there may be more coming of scams to affect those who honestly are here to do good in this world, country and planet. (Margo)
I agree with what Ms. Margo said. Greed will always be the triggering factor why such economic sabotage happened.
- Anyone with any brains, who listened to the news, "NO job?, No money? No credit? We will get you a home loan!. I knew all these people, making those loans would go broke. But the banks and brokerage firms bundled those loans, put them in certificates, bribed Moody and Standard and Poor to rate these certificates AAA, They should have been rated CCC, and no bank could have bought them! (Alfred)
Some of the 'insiders' interviewed in the movie
I'm a passive bank saver. With the allotments or payouts being transported through bank-to-bank transactions from ship to the Philippines, I was made aware that the country is earning through our remittances.
I am also dumb (but not stupid) about the rating games in banking industry, like Mr. Alfred opined.
As far as I know, the banking industry around the world is another kind of Mafia that enslave depositors.
Here in my country, Philippines, more and more banks are closing, leaving the depositors crying, disgusted and angry because those bankers already used their money and the Bangko Sentral ng Pilipinas (BSP) can only paid back the insured amount, not the whole savings.
- "We the People" must stop bickering over @#$% & come together & agree - the current paradigm of back-door deal brokering & entrenched longevity almost ALWAYS evolves into corrupt politics (on BOTH sides of the “Isle”) & will ONLY be broken by Term Limits on congress. (KenA)
Academy award film maker Charles Ferguson (No End In Sight) and his crew painstakingly researched all the available date that completes this film, for now. Academy winning actor Matt Damon narrated the entire documentary, a plus factor to influence viewers to crave for this.
Even film critics and the media have something about this.
"A crime story like no other in History." (David Germani, Associated Press)
"A powerhouse of a documentary that will leave you both thunderstruck and boiling with rage." (Kenneth Turan, Los Angeles Times)
Inside Job (Documentary) trailer HD 8-10-2010 c/o FILMgr
Financial Crisis of 2007-2010
Americans called it The Great Depression way back the 1930s. It resulted to the collapse of big financial institutions.
Same thing happened in 2007 but it was noticed largely with the dawn of 2008. It is now called Economic Bubble since it is coined after the housing bubble that triggered the meltdown the following year.
The financial crisis was triggered by a complex interplay of valuation and liquidity problems in the United States banking system in 2008.
Since then, every country in the world is affected by the financial crisis in the US mainland.
Filipinos who are working in the US were also affected by the meltdown. Some prompted to flew back to the Philippines in order to continue their lives here. Standard of living in America plummeted leaving most of them homeless and jobless.
Note: Right now, after such interlude of financial crisis in the US, my cousin in California said that they're still struggling to make things back to normal.
(With personal writings by travel_man1971 and shared opinions from Yahoo users and Wikipedia)