Monday 20 January 2014

INSIDE JOB - WHAT EVERY MAN, WOMAN AND CHILD SHOULD KNOW

Before we go any further, there are two details that you must and should know. Firstly, this is a documentary film and it does not disguise itself, although it has Matt Damon in the film. Secondly, most people would take it upon themselves to avoid this like the plague. Most people are never concerned about anything unless it falls onto them like some meteor out of the blue sky. That describes the usual self indulging people that we are and I suspect that will continue to be, much oblivious to many of the 'real' concerns that would shape our future and that of our children. The mindset that we nurture seem content with individual progress, intellectual suspension and accept mediocre results and development. Thus, the usual predicaments that we find quite prevalent in society, government, workplace and within.

Charles Ferguson, director of the film is inspiring and delivers a film that begs your attention
THE STORYBOARD

"A study indicated that any individual when suddenly presented with a large amount of earnings and money, the part of the brain that is stimulated is the same part of the brain, as the use of cocaine".

The award winning documentary film 'Inside Job" is written and directed by Charles Ferguson and is narrated by actor Matt Damon (Good Will Hunting, The Bourne Trilogy, True Grit).
Essentially, the film re-traces the conflicting personal agendas, selfish stupidity and the well crafted illusion of the globalised world economy as structured by the financial sector of the United States of America and exposes Wall Street trading and key politicians as part of those responsible in a corruptive financial system.


The inability of the American financial institutions to recognise and initiate appropriate action which led to the catastrophic 2008 cardiac arrest of the global financial system is interrogated at every level of the system. It weaves from one financial institution to another at breakneck speed, feeding you information about predatory loans, detailed facts about derivatives, eye opening disclosure about investment rating/credit rating and astonishing interviews into the 'underworld' of money politics, corruption and a full blown account of how the system of government is mechanised to prosper those in power and leaves the common man with nothing but despair.

Believe me, at the end of the film, you would walk away exhausted but far more knowledgable than you could ever imagine at the start of the film.

Informative and drowns the viewer into the underworld of financial crime by the financial 'mob'
THE DAMNATION
During the period 1997 to the end of 2008, a series of financial decisions and approved policies were undertaken by key financial institution figures and backed by politicians in the USA. These decisions effectively made millionaires of the politicians and key Wall Street personnel. Its trade employees all but enjoyed lucrative windfalls but would later find themselves dispensable with the burst of its financial bubble and its key banking institutions literally unable to neutralise bad debt which led to the collapse of the global financial system. The meltdown bankrupted the biggest banking groups such as Goldman Sachs, Lehmann Group, Citibank and Merril Lynch. It also affected the Insurance sector and inevitably plummeted AIG to close down worldwide. These would later lead to the domino effects around the global financial system and eventually resulted in millions of people losing their homes to foreclosures and their life savings. Almost 30 million people lost their jobs worldwide. The American government would later use public funds to pay the 'idiots' via bail out legislation which was approved by then, President Bush.

The Three Stooges? Larry, Curly and Moe of the Financial Sector?
Watching this, i could not help but notice the exact similarities although not entirely in proportion, with the situation in 'other' countries. The similarities of public funds channeled in disguise, the common method of distraction of the real issue by government, the corruptive nature always prevalent, zero integrity public figures, trade system that is inept and use of public funds with very little transparency - all key indicators of an unhealthy system - ticking like a time bomb.

The key message - the common public is acutely incapable of remotely being interested in all of these financial fallacies - until it is too late. Until it actually affected their livelihood and their future.

One of the most interesting aspect of the film was the straight up interview with these 'buffoons' and point blank questions by the production team that would catch them off-guard and often expose their 'stupidity' and idiocy. And these are the people that most of us would trust to lead and conduct themselves with power and authority on the peoples behalf. I could not help but likened the situation and to compare with 'other 'comedians' in power and authority in our very own country. How morbid and utterly ineffective we are, in spite of all that we have achieved.

Every country, at some point, has been responsible for similar risk taking and mishandling of public funds. 
WHY WATCH
It's informative, educational, empowering and rather entertaining with brilliant investigative and presentation by Charles Ferguson and his team. Matt Damon does well in narrating although I would have preferred Morgan Freeman or Jeremy Irons. It would have given the film a certain persuasion for the 'un-persuaded'. I still think that the narration by Morgan Freeman in the movie "Shawshank Redemption' was equally responsible for its runaway success.

Matt Damon narrates the documentary film
You would also be dumbfounded to learn of idiots and the flawed system that is constantly being manipulated by those in power and authority for their own personal agenda. Equally absurd was that the International Monetory Fund (IMF) chief analyst, Raghuran Rajan had in 2005, presented a paper which alerted the financial institutions of the risk and catastrophic results on the financial sector based on the undertaken policies and financial leverage afforded to investment banks and the non-regulation of CDO's. The warnings, were never taken seriously or heeded by those in power at the time.


The universal societal structure would evidently demonstrate that in any catastrophic event or situation, the common man and woman, which represent the middle class and poor, would always be the hardest hit. In comparison it is also quite unfortunate and troubling that when it arises to subjects as mundane and tiresome as finance or the depths of political sociology - most common men and women are usually disengaged and hardly interested. Until they realise that they have been the victims of an INSIDE JOB.

Do yourself a favour and please WATCH THIS.

Rating 7 out of 10.






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