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« Gold Prices Holding Up Well | Main | Has the Gulf Spill Opened Pandora’s Box for Obama? »


Inside Job 14 July 2010.jpg

Having a day out in the big city of Auckland with an old Buddie who is an accountant, we decided to paint the town red and so we went to the Auckland Film Festival to catch a couple of movies one of which is entitled 'Inside Job'

Its an all star cast which includes, Presidents Clinton, Bush and Obama along with the usual suspects Bernanke and Geithner, some eminent Professors of Colombia and Harvard University who did not cover themselves in glory and the rating agencies who failed miserably in their assessments of the banking industry.

A synopsis of the this film is as follows:

From Academy Award® nominated filmmaker, Charles Ferguson, comes INSIDE JOB, the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs. Through extensive research and interviews with major financial insiders, politicians and journalists, INSIDE JOB traces the rise of a rogue industry and unveils the corrosive relationships which have corrupted politics, regulation and academia. Narrated by Academy Award® winner Matt Damon, INSIDE JOB was made on location in the United States, Iceland, England, France, Singapore, and China.

This is a quote from the writer and director of the film, Charles Ferguson of The Wall Street Journal:

Deregulation, which began in the 1980s ….. has without any exaggeration, given rise to a criminal industry.

If you enjoyed the Sopranos then you will enjoy this film, the sad thing though is that the wrong doers are still in power and the main stream media still hangs on every word they utter. The pre-election promises of President Obama to bring change to the banking sector fizzled into oblivion as he has re-appointed pretty much the same team that he once so ardently criticized.

One of the reasons for the bank bail outs during the financial crises was that they were too big to fail and the solution has been to create even bigger banks than we had before the crisis, so we appear to have learned nothing.

The ratings agencies had a AAA status for the Icelandic banks that were a model of perfection for the rest to look up to, just days before they went bankrupt. When questioned as to why they had got it so badly wrong they said in their defence that the ratings were 'only opinions'

We should note here that the Chinese have down graded the US sovereign debt:

Dubbed as the world’s first “non-Western” sovereign credit rating agency, in its debut international report, Dagone (means Big Justice in Chinese) down shifted the US to AA with a negative outlook, while UK and France were given AA-; Belgium, Spain, Italy with A-. Zerohedge.

The times are certainly changing.

The film also shows a Harvard university professor who produced a report supporting the stability of the three banks in Iceland singing their praises and he also got it badly wrong. However he omitted the fact that he was paid handsomely by the bank for its compilation and when questioned about his integrity got a tad uncomfortable. Any aspirations a parent might have about sending ones children to such learning institutions might want to see this film and re-think their strategy in respect to further education, in our humble opinion.

And finally a quote from Rob Nelson, Variety:

“Inside Job is the definitive screen investigation of the global economic crisis, proving hard evidence of flagrant amorality – and of a new non fiction master at work.... It points an incriminating finger at not only the financial services executives who got filthy rich on working peoples pain (and who remain in power) but also government officials and business school toppers irrefutably revealed to be in Wall Streets pockets... Ferguson aims to arm audiences with information and infuriate them into action.”

If you can get to see this film its well worth it in our view, it'll make you laugh and cry!

Have a good one.
Got a comment then please add it to this article, all opinions are welcome and very much appreciated by both our readership and the team here.

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Reader Comments (15)

Powers That Be are making this film most difficult to see here in the States, think I've heard brief mention of it just once before. Well-suppressed by Big Media. No sir we won't be seeing this film here on the Big Screen. In contrast to fantasy films in the vein of Avatar which was all the rage.

July 15, 2010 | Unregistered CommenterSnakeman

It might make an appearance at TIFF this labour day weekend in Canada (google TIFF Toronto).

I haven't looked into it, though.

July 15, 2010 | Unregistered CommenterTJ

I should have been more clear - this weekend ISN'T Labour day - what I meant to say was 'Labour Day weekend this year' ... sorry for the confusion.

July 15, 2010 | Unregistered CommenterTJ

I tell kids heading to college that besides learning something of practical a marketable skill, you want to become knowledgeable in 3 areas:

History...real history...not the revisionist nonsense that you might find in a school textbook here in the forcibly united states. If you know what's happened in the past, you might have a shot of anticipating what's gonna happen to you in your life. Anyone who really knows history almost has to come away with one clear message...BEWARE OF YOUR GOVERNMENT. The opposite of a benign force, they're the ones with the power to really ruin your life. Understanding this might help you protect yourself as they undertake to destroy the currency and with it the economy and society we live in.

General semantics / transformational grammar, so you understand the promethean / generative nature of language vs. the way we tend to think of "isomorphic" and descriptive of "reality." (Wittgenstein/Chomsky/Bandler &Grinder)

That leads me to number 3.

Study propaganda, from marketing...(Edward Bernays, the VALS study, et al) and the psychology of influence/manipulation/brainwashing (Cialdini/NLP/Psy Ops)to hard core political disinformation (Goebbels/Lee Atwater/Dick Morris/Orwell), so that you can know when you're being worked. which is damn near always these days.

Folks might also study the grifting arts...con artistry. That would stand you in good stead as everyone from Wall street to Madison Avenue to Big Pharma, Big government, academia, the mainstream media, et al. attempt to bamboozle you.

We live with what I call an operational level of deceit on a daily basis. Sometimes honesty prevails. Sometimes, we tilt toward pure Orwell, but way too often, the accepted basis for interaction in the culture is one of deception and manipulation.

It's gotten to the point that the government can't seem to ever tell the truth about anything...and they're not alone...just the worst offenders.

In such a world, it's to be expected that the Powerz would keep such a film from wide distribution here. As Snakeman says, instead we get "entertainment"...bread and circuses.

What's remarkable is that anything that shows them for who they are ever sees the light of day. My sense is that they're workin' on that. And who's to stop them?

Virtual serfdom here we come.

Thanks for the heads up about the movie. Looking forward to it.

July 15, 2010 | Unregistered Commenterfallingman

Is there someone we can contact to request getting this movie played in the US? Thanks!

July 15, 2010 | Unregistered Commenternotindenile


Probably the best post I have read in a very long time.

I always seem to sense exactly what you are talking about when I hear the radio and read the mainstream news - when you hear some of the garbage out there, and it just makes NO SENSE LOGICALLY, you gotta believe someone is trying to pawn off swamp land in Florida as luxury acreage.

I don't have time to listen to the radio ... I don't even have a TV. That doesn't mean I am socially introverted - quite the opposite - it just means that I have no time to waste on crap in the mass media (well, truth is, I will go online about a couple of times a year to watch past episodes of Jon Stewart and Steven Colbert - Colbert being one of my favourites). I absolutely LOATHE all the entertainment news programs - I want to chew wood when I hear about them - I mean seriously, is your life that f'in boring that you have NOTHING better to do than hear about how this person is in rehab or that one is bankrupt - who the F gives a crap? They don't pay my bills, so they can F-off.

Ahhh - rant done ....

Back to fallingman's post - I should make a better effot to read some of the stuff you mentioned - I am sure it will make me think a lot more about what kind of people we can e or what kind of creatures we really are.

What will it take to make the public wake up and regain control of their lives? Civil unrest? Civil war II? WW3?

I got a kid on the way - roughly about 4 weeks from now - our first. It was a long journey for my wife and I to get to this point, but we made it ---- what am I to teach this child about what they are about to experience? How in God's name will I be able to protect this child, not just from school yard bullies (these may be the easy challeneges), but about big brother bullies? It just seems so hopeless at times, but I try to put a best face on it and hope for the best.

I think I just might make my child really learn history (as much as I hated it) because maybe then he/she may end up doding a better job in life than his/her parents did ....

Good luck guys .... I will try to get more info on the film ....


July 15, 2010 | Unregistered CommenterTJ

Thanks TJ. Congratulations on becoming a father.

Times may get crazy and times may get tough, but life is for living and steel is forged in fire. Just give the little one what he or she needs, which is mostly your time and attention, and make things work for you no matter what happens in the world outside your control.

The sun still shines and there are still a lot of good honest people in the world...and we may be surprised that the changes coming are positive. Another thing history tells us is that when a system is rotten and unsustainable, it will be replaced. Let's just hope...and work to make's something better. And let's do it as happy warriors.

The last thing we want to do is get so wound up and angry about the problems that we negatively impact ourselves here and now. As some smart person said, that's like drinking poison and hoping the other guy dies.

Live long and prosper my friend.

July 15, 2010 | Unregistered Commenterfallingman

Goldman Sachs has settled with the SEC and will pay a fine of $550 million, and the bank will review its practices.

July 15, 2010 | Unregistered CommenterGold Prices


How much did they make on the deals?

And how much will go to the pension plans, etc., that lost so much money? None!

July 15, 2010 | Unregistered Commenternotindenile

Funny ....

A couple of weeks before the BP rig in the Gulf exploded, Goldman Sachs happened to sell off approx. 44% of their holdings in BP ... or so I've read ... can't verify it though.

Makes you wonder ....

July 15, 2010 | Unregistered CommenterTJ


Yes, we think it will be viewed as a 'let off'....

July 15, 2010 | Unregistered CommenterGold Prices

To see the movie in the States, check out your local film club they may screen it if they can see the interest or be able to direct you to a theatre that is showing it.

If we come across it playing over there we will post on here.

If anyone else spots it please let us know and we will publicise it.

thanks, Bob

July 15, 2010 | Unregistered CommenterGold Prices

Great posts from fallingman, snakeman and tj. What I'd like to do is publish all your posts in a book titled "Plain common sense"and I'm sure it would make the best seller list. Good luck to you all and keep the posts comming. ies

July 15, 2010 | Unregistered Commenteries

I should have added that I want to see this film.If it ever plays in Sydney, I'll be there for sure

July 15, 2010 | Unregistered Commenteries

hey ies, thanks for the kudos.

You want common sense, I will give you more common sense:
I work in the automated machine industry (we build machinery), and a tool maker told me something that I will never forget, nor will ignore ... I had a finger pinched very slightly by a machine many years ago while I was trying to get it to operate correctly - I got lucky and only my ego was bruised. This same tool maker came to me, witnessing what had happened, to make sure I was OK. After it was deemed that all was fine, he said the following extraordinarily priceless words to me (warning - a little vulgar):
"Don't put your finger anywhere you wouldn't put your penis".

I will never forget that.

Common sense for ya ....

July 16, 2010 | Unregistered CommenterTJ

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