robbery

Felix 2022-12-17 07:22:15

After watching the documentary, I generally understood the 08 financial crisis: a group of people used various financial means to search investors' money into their own hands. In the process, in order to attract investment, these people cooperate with rating agencies and modify stock ratings at will. It also paid experts and scholars to write papers, lobby Congress, formulate relevant bills to ease financial regulation, and even some government executives colluded, pushing the situation to a worse direction. The bigger and bigger bubbles accumulated in the market finally burst in 2008, and investors' money disappeared. Thousands of households went bankrupt and even had to carry various debts, global consumption plummeted, various manufacturing industries were oversupplied, factories became sluggish, cost-cutting layoffs, large-scale workers lost their jobs, and the global economy slumped. And after that? The culprits were fine. Even the money printed by the US government to "rescue the market" was swallowed up by these jackals. After the storm subsided, some of them didn't even face any charges and were still entrusted with the task of continuing "Wall Street government" in the next administration. In the Enron incident, there is an impressive clip: Enron executives drove up electricity prices to make huge profits, local residents could not afford electricity and froze in bad weather, but the perpetrator sat in the office and mocked the local victims, without a trace of guilt , the words are filled with arrogance. These capitalists will never reflect on what they have done, and in the face of interests, they will only intensify.

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Extended Reading

Inside Job quotes

  • title card: The presidents of Harvard University and Columbia University refused to comment on academic conflicts of interest. - Both declined to be interviewed for this film.

  • interviewer: On your CV the title of this report has been changed from "Financial Stability in Iceland" to "Financial *In*stability in Iceland."

    Frederic Mishkin: Um, well, I don't know. Er, which, er whatever it is, is - the thing - if there's a typo, there's a typo.