shallow feeling

Serenity 2022-10-10 14:50:08

A very well-made documentary from filming to production, with detailed interviews and data, the Great Depression in the United States, the collapse of technology stocks to the global financial collapse caused by the subprime mortgage crisis in 2008, the event explanation and clues are very clear, Mark is cute The narration and soundtrack, as well as the pacing of the content presentation, are excellent.

But to attribute the financial crisis in 2008 to the government's indifference to derivatives and negligence of supervision, the greed of Wall Street bankers and the mercenary of economic researchers, I feel that there is a certain one-sidedness.

The main points of understanding in the whole film are as follows: 1. Derivatives are a great invention. The original intention of its design is not a weapon used by capitalists to wash taxpayers' pockets, but risk diversification is not to eliminate risks, and its double-edged sword cannot be ignored. effect. 2. In the U.S., ahead of consumption and the cycle of economic operation, when the debt ratio is high, a slight fluctuation in economic prosperity will have a significant magnifying impact. 3. Financial supervision should be rational, and the real economy must rely on the invisible hand of the market. However, given the huge risks brought about by its leverage and multi-layered nesting, planned supervision is an important means to ensure the effective functioning of finance. Risk control is critical in all industries, not just in finance.

Everyone seems to have contributed to the disaster, but everyone does not know or think that they are the ones who took the last straw. But in fact, under the nest, how can there be any eggs.

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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.