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delhi kim is here
item will be a sign around his inside job where you have a discussion about
how much we liked it or
or perhaps it like you know by now and the reception
but uh... i loved it and but
as always some great fax afterwards
so let's watch review for
pure stern's was really tripling the like a month before it went bankrupt
more likely eighteen
they say we still not bankrupt don't know
that's that's a high investment grade solid investment-grade rating lehman
brothers eighty-two within days of family
bumpy ajeet double a_ within days of
being downtown
fannie mae and freddie mac or triple a
when they were rescued
nam cd crew meryl all all the had investment-grade ratings
how could there be
well that's a good question
got
has a great question
well the world is still in during the effects of the economic meltdown
for many what caused it has been for members assuming the ever understood it
at all
to fill that void republicans and they're lying when bag leaders like rush
limbaugh sarah palin and glenn beck have stepped in with their own dishonest
self-serving dumb down explanations that plea to the ignorance and racism of
their tea bag your base it was big government socialism too much government
spending greedy stupid homeowners taking out loans they couldn't afford which of
course is to tiger code for blacks and mexicans
naturally this totally leaves out mortgage lenders investment banks wall
street and decades of deregulation uncomfortable on complex treats
republicans would rather ignore so it's a good thing the director like charles
ferguson a guy with a p_h_d_ in political science in a tech expert he's
consulted with apple google the defense department and the white house took on
the subject out of the success of his first documentary no end in sight
considered to be the defendant film on why the iraq occupation went so for a
clearer
his latest film inside job is considered the definitive documentary about the
financial meltdown a favorite for the best documentary oscar in a must-see for
anyone hoping to really understand what caused this mess
inside job lays out in great detail how the financial crisis happened structured
into five sections how we got here the bubble the crisis accountability and
where we are now
this outlines what you need to know about the meltdown including the effects
of deregulating the financial industry how banks became too big to fail and our
financial products like derivatives allowed the banks a shift risk away from
themselves in onto unwitting investors while getting paid regardless of the day
or investors won or lost or risky loans were ever paid banks were able to
greatly increase their leverage meaning how much they can borrow in proportion
to the cash they had on hand if their loans defaulted government watchdog
agencies that could have stopped this have been gutted in reading agencies
like moody's and standard and poor that should have alerted investors the risks
of these products didn't bother because they are paying for high ratings not
whether they were accurate
this cause the housing bubble and an *** of greed on wall street with
enormous bonuses for traders an investment bankers many of whom knew
they were steering the gravy train off a cliff but didn't care because they have
a millions would be clear of the rock much of this has been explained in the
news rarely is clearly concisely and powerfully as an inside job through
these are people who predicted the crash before it happens in a few but certainly
not all of those responsible with a long list of top players refusing to be
interviewed
but inside job goes several levels deeper looking at the unusual level of
criminality found in the financial industry an industry that creates
nothing in his all to where they will be bailed out and worshipped by politicians
no matter what it does the film also examines the mindset of many on wall
street type a personality is prone to risk taking competition impulsivity and
a disregard for the impact her actions have on others lead to higher rates of
drug use and prostitution among wall street bankers
there's also a fascinating examination of how not only our government has been
taken over by wall street with the heads of investment banks being given top
posts in both democratic and republican administrations but the study of
economics itself
many of the same bankers and government officials even if they presided over
spectacular crashes move on to america's elite business schools with ease their
positions as professors to teaching consults using an economic philosophy
that they scared to profit from personally but is economically
disastrous
inside job should be required dealing for all americans especially those who
think they can explain the meltdown
without talking about derivatives credit default swaps collateralized debt
obligation or deregulation
alternate like this might make you zone out the welfare of our country depends
on you understanding well michael moore's approach in this film capitalism
a love story is more emotionally manipulative funny and sometimes
gimmicky inside job shows that you don't need to gunned down or oversimplify
complex ideas to make them understood and you need to push emotional buttons
to make people mad enough to demand change because oftentimes the truth is
infuriating enough
i'm jonathan kim missus everything purview
as it turns out by
could
not biggrin more with your i mean
it it is the definitive documentary
that if you're going to watch
look if you are no i have all the financial meltdown in my opinion right
now i've got the pet approximately a million or so
krugman is written ellis articles people who've written books
dil routing it is is off some in his explanation of how things went wrong
all these things are available to you
but this is the quickest easiest summer
yes i jog in my opinion you would do would you agree yeah i totally agree i
mean i was thinking of
the movies that i've seen so far that that deal that deal with this topic and
capitalism a love story and then it's worth it
deals all capitalism in spends a little bit of time on the housing market
remember one line recycle the so that you can use your houses a bank
but it's going all over the wisdom of all the problems of capitalism another
movie reviewed was american casino which really looks at the housing
which i think is really important that wasn't we talked about like reverse
redlining which was going after you know like
black neighborhoods that they didn't give loans to in the past and other
things like that people abandoning their calls take that
but this one i think it really
it really nails the
what happened in the financial industry
and it doesn't take the diverted at meetings one diversion where you can
look at a family and then talking about being foreclosed on
where is capitalism love story spent a lot of time on that where you're seeing
the pain of the average american
who aren't probably you know that this was the red cedar is known guns and
things like that to say like a like i'm like you that kind of thing but
this really i think just right as you know i anxiously
adam may be on there but
it but it really agree with me i don't like it women in a documentary they
spend allot of time on personal stories
because identify
of course it affects people personally what i want to know in a document read
the facts right
and but inside jobs i just like every fact
big clearly simply explain it to you
so i think if you watch the spare the movie it and you come out the all that
got a i dot that's what
that exactly and i mean i think a big protest trials for his sins of the
director is incredibly smart guy
has an academic background has appears a p_h_d_ and what i asked the might
interview too much of you know what did do you think your educational background
helped you to do it in film making is like to make a really clear argument
and i think this he lays it out in a way that
is really i mean this is so much a nonpartisan movie because it's really
just it's the people who worked in the industry telling you what happened
except for the people
who are
even though they bought out what they say they're embarrassed that they're
embarrassed enough that they didn't want to be interviewed for the movie
and by the way act are to be one issue steve it
told me asserted a have somebody that was an industry sees somebody who's it
works here
uh... n
they'll tell you alot i it's not sets yeah i don't know no question like the
one are real don't even know what these
you know could make a great day for slots are c_e_o_'s are set up
we just know we're making the bonuses right
and we know were folks on the bonus so
the risk
who cares right
right because it's all about the bonus and lehman brothers is actually
famous for that for being with bonus driven and of course you would have
women bones
but you know you mention capitalism a love story but michael moore movie
they have who is split somebody from the movie has had criticism of this will be
what they want is that about you his name is john heard esti he's an
economist monday ko producers of capitalism and
he really went after this movie in a way that i thought was sort of was really
not deserve basically saying that
this is the corporate view of of the crash
and that
basically a ferguson isn't trustworthy
because he has worked in fitted basically as work in the corporate
sector at least been an advisor for
google apple and it's like well so he's not in
he said
you probably announces charles persons allegiance to the corporate economy that
brings us the business cycle like a boom and bust
and that he's devoted his life to the corporate states of america
and agip nonsense nonsense in my opinion okay
but you know i like at least so i mean that's why when i watch capitalism
there was some great stuff in there compelling stuff in there right
but in the end i don't buy though the underlying argument which is that
tablets and is in the right system yeah it'd make that really makes a good
argument there problems and capitalism but not the problem but nothing should
abandon the whole system and i don't think that it
tells you what the ultimate system it
but the i mean i i think that in in this one it's if you just thinking you want
to know the terms and like
was really good for me that i learned in this movie was about to big to fail
like i thought that it was more just like a philosophy so i call well you
can't wait until closer to big
but in this movie talk about
when the even brothers goes down
basically that that henry paulson and brenneke you you know
with their kind of lazy fair you know
plus regard
all that effect
you know what
too bad for them
but then not real but then they didn't tell other countries that this is going
to happen you know lemans doing business in all these other countries that have
different bankruptcy laws anderson at lake di's set is soon as they went
bankrupt
in london
their office is closed
they're like no under our laws we cannot do anything more
and like everyone left in so if you had money in lima brothers office in london
it was just galling and it's like what he's you know and that's a lot of across
the senate ryanair the banks are so interconnected a bill in the long office
of lima brothers shuts down other banks like all my clothes money only men
and now i gotta shut that excite can't make my payments without the money at
lehman island in new york by the two biggest monster offices arena right
input i want to give you a s has a look as i know i've been doing this long time
on this issue so i know more than what's in the movie right so
so for example a spy that's great and to me the most interesting part up point
was
they were so let that they're like i will oppose women
and then they like all day moving or whatever would happen in london
treasury secretary on the former head of goldman sachs how did you not realize
what was going to happen in in london
that's not too right
a course of their you know to their indifference and lou lack of ability to
govern etcetera etcetera
but then shutting them li min wasn't just lazy fair
it's worse than that
it's because
goldman sachs is always hated lead
and then to eat them operatic and so hank paulson didn't randomly pick women
out of a hat
he wanted to kill the
blatant that look i'm not saying that it was a conspiracy in the sense that
paulson created a collapse so that he did kill leaving no no no no
what would that situation arose
now if you could have big goldman he could apparently many could've if you
want a big ol man right now
and it was a kid pick their
arch rival for decades menus that archaeology workers what they do and i'm
not saying women were the good guys not even close window were one of the worst
so was not a bad company to pay costars letting them go under but it was in a
coincidence that the guy who used to run over sex
a couple of
months ago or i mean it you know a little over a year ago
wind up deciding to kill women rep
so the whole thing stinks to high haven't looked
but to me the answer is in the middle ground right
it's not book it well we had this problem with capitalism solicit recap
was and then do what right
and it's not or tell capitalism's perfect in so how dare you criticizing
to look at what happen obviously there's a problem
answers to fixed up obvious flaws
and what about these flaws is that the executives
don't give a damn about the company's right right and it and you see it in the
movie ec ten everything
if you're
its financial a set of as *** false financial seven women brothers
was to make bonuses that you take home
well who cares if the company collapses rage the whole short-term gains served
sort of incentive that's a huge problem right *** forms we discuss in a
previous interview made six hundred million dollars
from lehman brothers
and so
what do you do it collapse who cares about me six hundred million dollars i
collapsed women do yet he didn't collapse so that i think that it was
fine
so that's the flaunt ab listen you absolutely positively must fix if you
ask me now becos the question of while hoto other countries or are there other
systems
where they have handled this in a in a more seniority
right i mean i i did some research and i found i i i i hadn't heard the term for
but social capitalism
which uh...
tossed early prime minister kevin reading tea does not you bc declare that
that's what you thought i'll show you should be uh... you describe it as quote
a system of open markets unambiguously regulated by an activist state
and one in which the state intervenes to reduce the greater inequalities are
competitive markets
one of the week generate
so basically saying that
you'd and then what happens now i think with republicans is they say
everything that's happening with
that with capitalism is perfect might
that's the free market don't touch the free market you won't disturb the
invisible hand
but ind
in social capitalism what they're saying is that people manipulating the market
but those are the distortions of the free market whereas
what republicans and conservatives is
no regulations are the destruction of the free market but if you get rid of
these the true problems which is the manipulation and we are what we saw in
and our crash that actually allows the free market to work better and in the
system working is really interesting is
instead of
instead of the upper class middle class and lower class babies we just have to
classes
which is
are you more
alike are you
depending on the government and not contributing to the economy
or r_u_ do you have a job in are you
contribute to the economy so
the people who are contributing
very old people un
mentally ill people people in jail and very very poor people
and because those people like none of these people are spending that much
money
where is everyone else think they're not as dependent on the government to give
them things but the idea is that you know if you're a homeless person
yet you're not contributing to helping uniting turning to the economy
so if you give that person house to get an education if you give them
healthcare then they can go out and get a job or maybe they'll be able to come
up with that next great idea that ends up being awesome for your country you
know
apple and google are modeling great companies but they're great for america
in general near the great for the whole sector there's a halo that goes around
it i mean
silicon valley is not just one company it's a whole bunch of them but they all
kind of work under the same hill it's interesting because ari you know as you
explain the system
this i think the bets
too much resources
that's ironic
that's why it's called myself a conservative i really believe in the
system in
in terms of how you know it that competition and free markets dually the
buzzer better results not necessarily int in terms of solving inequality will
still be
massive inequality right
but that we can set up
also play within that system
but now we've got a sore right wing in this country
that it's not even rightly anymore sigh conservatives like apple list
too because what has happened is we've have quarters and instead it's it's
fascinating 'cause it's almost communist
right where the corporations
take over capitalism
and he killed a free market
and because they corporations don't want competition and so what we have with
these two big the failed banks is a system where we have these giant banks
all by the way in and you'll see the news
all the smaller banks they had a record number of small banks
go bankrupt this year
that's not a coincidence ease it any other
the big banks have bought the government
and the government is helping them kill their competition ran a small banks
and so
c like though that that
more towards socialism with social capitalism
that's an interesting discussion
i'm not sure i'd even go there
that org
power in the eric we've gotta fix our system
and it had to work the way it's supposed to the first place
will but i i think that this ideas social capital is that you can build
ethics
into the free market you know where you can have you cannot protections there
because
technically if your conservative you say okay you can afford health insurance
okay when you just die you died of the flu some preventable disease
but if you actually confronted someone with that option of letting their
neighbor just dive some preventable disease
they wouldn't do it
you know like if you actually call the might they wouldn't do it so if you can
take those end we've done in the past we stops child labor we stop slavery
we stopped you know unpaid overtime i call these things we can say
as a nation we value these things
and the way to make corporations behave in that way is to create laws laws that
forced them to behave in a way that
reflect our shared affects right n and i would put that in the category of fare
rules right
we have fair will spur the free market the work and that includes not letting
kids work you know 'cause that's child labor is saturday
so we gotta get back to those rules of we don't it's going to blow up again at
looking you know i've sort of million times
we have basic you'll see in the movie we haven't they sit at all
and an old bomb in a part of a million times
the reform package it was largely joke
the system is still in place
and it's still headed for a terrible crash
and look one other thing about the movie no then we gotta go but
is the
what i didn't know as much as how much they bought academia
that i've been really fascinating interesting topic but i really hadn't
heard address to write and those professors that they got or getting paid
a lot by the banks
to sail with the banks are doing are great
all mandated stone cold
busted in this movie
but i had to look forward for combat for that
crepitus so yeah when i talk to person about that he said
of all the people that you talk to the people who
were most kind of outraged at being questions
were the people in the academic field that they they just weren't used to it
in and really got angry at him them more than anyone else yeah and you'll see
antonia phys one movie to watch so one documentary watch in my opinion in the
pep rally john
agrees especially in this field is instance i jump right in any field i
thought it was
the best argument revere
yeah it's such a good such a clear argument done so well that i think i
ever wanted to sit
it does in terms of like how well to make an argument in a film like it's
very educational but it's also
it's entertaining at times it there is a sense of humor in it at times but
it doesn't get gimmicky to do it which is it doesn't it give yet was it's also
great filming
alright so everything every think reviews on having a post youtube recent
reviews dot that
john is always great pleasure