Secrecy and Power in American Culture,  says that "the amount of organisation" of the movement is significantly stronger than the organization of the movement related to doubts about the official account of the assassination of John F. Kennedy though this is likely the result of new media technologies, such as online social networks, blogs, etc. The authors find that people involved in this movement, which seemingly is a disparate group with very diversified backgrounds, could be classified into three groups. They join the movement for different reasons, loosely self-assemble to fill different roles, and are united by their shared mistrust in experts and the establishment government and reputable sources of knowledge and conspiratorial stance.
Synopsis[ edit ] Inside job documentary is split into five parts. It begins by examining how Iceland was highly deregulated in and the privatization of its banks. At the Federal Reserve annual Jackson Hole conference inRaghuram Rajanthen the chief economist of IMF warned about the growing risks in the financial system and proposed policies that would reduce such risks.
Treasury Secretary Lawrence Summers called the warnings "misguided" and Rajan himself a " luddite ". However, following the economic crisisRajan's views came to be seen as prescient and he was extensively interviewed for this movie.
How We Got Here[ edit ] The American financial industry was regulated from tofollowed by a long period of deregulation. In the late s, the financial sector had consolidated into a few giant firms.
In the s, derivatives became popular in the industry and added instability. Efforts to regulate derivatives were thwarted by the Commodity Futures Modernization Act ofbacked by several key officials.
Investment banks bundled mortgages with other loans and debts into collateralized debt obligations CDOswhich they sold to investors. Subprime loans led to predatory lending.
Many home owners were given loans they could never repay. The Bubble — [ edit ] During the housing boom, the ratio of money borrowed by an investment bank versus the bank's own assets reached unprecedented levels.
The credit default swap CDSwas akin to an insurance policy. Numerous CDOs were backed by subprime mortgages. Goldman also bet against the low-value CDOs, telling investors they were high-quality.
The three biggest ratings agencies contributed to the problem. AAA-rated instruments rocketed from a mere handful in to over 4, in The Crisis[ edit ] The market for CDOs collapsed and investment banks were left with hundreds of billions of dollars in loans, CDOs, and real estate they could not unload.
In September, the federal government took over Fannie Mae and Freddie Macwhich had been on the brink of collapse. Two days later, Lehman Brothers collapsed.
Merrill Lynch, on the edge of collapse, was acquired by Bank of America. Henry Paulson and Timothy Geithner decided that Lehman must go into bankruptcy, which resulted in a collapse of the commercial paper market. On September 17, the insolvent AIG was taken over by the government.
The global financial system became paralyzed. On October 3,President George W. Bush signed the Troubled Asset Relief Programbut global stock markets continued to fall. By DecemberGM and Chrysler also faced bankruptcy.
Foreclosures in the U. Accountability[ edit ] Top executives of the insolvent companies walked away with their personal fortunes intact. The executives had hand-picked their boards of directorswhich handed out billions in bonuses after the government bailout.
The major banks grew in power and doubled anti-reform efforts.
Academic economists had for decades advocated for deregulation and helped shape U. They still opposed reform after the crisis.
Many of these economists had conflicts of interest, collecting sums as consultants to companies and other groups involved in the financial crisis.
Geithner became Treasury Secretary. Bernanke was reappointed Fed Chair.Aug 16, · The company is conducting an experiment in how far it can push white-collar workers to get them to achieve its ever-expanding ambitions. a crime committed by someone working or living at the scene of the crime.
There was little doubt that it was an inside job, thought the inspector. minutes | Oscar Winner for Best Documentary, 'Inside Job' provides a comprehensive analysis of the global financial crisis of , which at a cost over $20 trillion, caused millions of people to lose.
"Inside Job" is the fifth overall episode of Buzz Lightyear of Star Command. It is the fifth episode of the first season, and the twenty-sixth episode in production order. November 12, Inside Track Rachel Dratch, Mario Cantone ready to recite memoirs of the rich and famous on Broadway Olivia Vanni / Inside Track Inside Track SideTracks: Chris Evans, Chelsea Roy.
Alex Stadthaus, a kicker from Austin, Texas, is joining the program as a preferred walk-on. Maybe USC needs some insurance as Michael Brown returns from knee surgery.