Code Attorney

In the past I’ve recommended books on the foreclosure crisis such as Michael Lewis’s The Big Short. Last night I finally got to see “Inside Job”, the film that won the Academy Award this year for best documentary. It methodically lays out how the problem developed, the nature of the crisis and the response by both government and Wall Street.

‘Inside Job’ provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia.

It’s interesting that public employees are being blamed for the money woes in this country when the entire financial crisis was Robin Hood in reverse, steal from the poor (or middle class), and give to the rich.  I encourage everyone to rent the DVD of this film so we keep our focus on the people and systems that brought this all about.  If we don’t, we will find ourselves in the same situation in the future. Charles Ferguson, the director, said, when accepting the Academy Award, that none of the people in the film have been indicted and no one’s gone to prison.  After watching the movie, you’re going to ask “why not ?”