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Movie Review: Inside Job

Alternate Title: Crime Sans Punishment

Story: Everyone was in bed with everyone else and we, the people, were the only ones that got screwed. This terrific documentary about the 2008 financial tsunami that created havoc around the world should be required watching for all. It is comprehensive, story-telling at its best. It takes a complex subject and slowly builds, factually explains, in easy to understand terms what happened when the world's economy caved - who suffered and who profited.

Deftly and intelligently directed by Charles Ferguson (No End in Sight -http://www.judithwolfe.com/lobosmoviereviews/reviews/noendinsight.html) and written by Mr. Ferguson, Chad Beck and Adam Bolt, Inside Job does not take sides. Fingers are pointed across the board. It records the beginning of deregulation starting with the Reagan years and traces the continued development of complex and risky derivatives, the out of control sub-prime lending and the housing bubble. It was the perfect storm for the crisis in which we now find ourselves.

The film interviews some of the people who were in the middle of the crisis (see the list below of people who refused to be interviewed). Academia is called in on the carpet as are the ratings agencies. The culture of corruption permeates all aspects of the financial industry. For more on this film go to their very informative website: http://www.sonyclassics.com/insidejob/site/

Find some time to see this fine film. Yes, you will get angrier but it is important and something you should not hide from. The more you know - the easier it will be to defeat all of the thugs.

Watch the trailer here: http://www.youtube.com/watch?v=FzrBurlJUNk

Acting: This is a documentary so this category is moot. Matt Damon is the narrator.

Trivia: Producer Jeffrey Lurie bought the Philadelphia Eagles on May 6, 1994 from then-owner Norman Braman for $195 million. The club is now estimated to be worth $1.054 billion, as valued in 2007 by Forbes. (This trivia thanks to Mikey, my wonderful nephew by marriage). Director Charles H. Ferguson co-founded Vermeer Technologies Inc., the original creator of Microsoft FrontPage. Ferguson detailed his experiences from the company in his 1999 book, High St@kes, No Prisoners, including raising venture capital, building the product, and finally selling it to Microsoft for $133 million in 1996.

These are the people who declined to be interviewed for this documentary. MYRON SHOLES - is a financial economist who is best known as one of the authors of the Black–Scholes equation. In 1997 he was awarded the Nobel Memorial Prize in Economic Sciences for a new method to determine the value of derivatives. MARY SCHAPIRO - is the 29th chairperson of the U.S. Securities and Exchange Commission (SEC). She was nominated upon Obama's inauguration into office on January 20, 2009. She is the first woman to chair the SEC. GREG MANKIW - is an American macroeconomist. From 2003 to 2005, Mankiw was the chairman of President Bush's Council of Economic Advisors. RICHARD FULD - is the former Chairman and Chief Executive Officer of Lehman Brothers. Fuld held the position since the firm's 1994 spinoff from American Express until 2008. DANIEL MUDD - was the President and CEO of Fannie Mae from 2005-2008. Mudd is currently working as the CEO of Fortress Investment Group in New York City. SIR ANDREW LIKIERMAN (London Business School) is Dean of the London Business School. He is also non-executive Chairman of the National Audit Office and a non-executive Director of Barclays Bank plc. LEE BOLLINGER - is the current president of Columbia University. In July, 2010 Bollinger was appointed Chair of the Federal Reserve Bank of New York board of directors for 2011.
LAWRENCE SUMMERS (National Economics Council)-
is the Director of the White House National Economic Council for President Barack Obama. Summers is the Charles W. Eliot University Professor at Harvard University's Kennedy School of Government. He was the Secretary of the Treasury for the last year and a half of the Clinton Administration. RICHARD PORTES - is currently professor of Economics at London Business School. He is President of the Centre for Economic Policy Research which he founded in 1983.
ALAN GREENSPAN-
served as Chairman of the Federal Reserve of the United States from 1987 to 2006. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006. JOSEPH CASSANO - is an American insurance executive who was an officer at AIG Financial Products from the division's founding in 1987 until his resignation in February 2008. LLOYD BLANKFEIN - is the Chairman and Chief Executive Officer of Goldman Sachs Group, Inc. since June 2006. CHARLES PRINCE - is the former CEO and chairman of Citigroup. He succeeded Sandy Weill as the CEO of the firm in 2003, and as the Chairman of the Board in 2006. ROBERT RUBIN - served as the 70th United States Secretary of the Treasury during both Clinton administrations. From November to December 2007, he served temporarily as Chairman of Citigroup. BEN BERNANKE- is the current Chairman of the United States Federal Reserve. Previously, he served as Chairman of President George W. Bush's Council of Economic Advisers.
HENRY PAULSON -
served as the 74th United States Treasury Secretary. He previously served as the Chairman and Chief Executive Officer of Goldman Sachs. He is currently a fellow at Johns Hopkins University's School of Advanced International Studies (SAIS). LAURA TYSON - is the former Chair of the US President's Council of Economic Advisers during the Clinton Administration. She also served as Director of the National Economic Council. She is currently a professor at the Haas School of Business of the University of California, Berkeley. TIMOTHY GEITHNER - is the current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York.

Predilection: I like documentaries

Sex Spectrum: Sex, hookers and drugs are a component of this community.

Soundtrack: Terrific.

Opening Titles: An overview of what happened to Iceland is seen along with the title and credits.

Theater Audience: About 30 other people.

Sappy Factor: 0

Quirky Meter: 0

Squirm Scale: Many of the talking heads made me squirm with their arrogance.

Drift Factor: I paid attention throughout.

Predictability Level: Sadly, high.

Tissue Usage: 0

Oscar Worthy: Why not?

Big Screen or Rental: Go for the big screen and go with friends.

Length: 90 minutes

LOBO HOWLS: 8