Inside Job: the story behind our economic collapse

Looking into "Inside Job’’ which is a documentary discussing on about the head of finance and government selling the world in to  global financial crisis, filming by Charles Ferguson. It is explaining about the global financial crisis of 2008 by following a chain of cause and effect beginning in the 1970s. Inside Job" exposes how that since the Sept. 15, 2008, crash that resulted in government bailouts, huge bonuses for the perpetrators continued. It shows the collusion of academia and finance and, finally, that the officials in the Bush Administration who should have had oversight and failed are now officials in the Obama Administration who are supposedly trying to save the U.S. and global economy.

What’s remarkable about the financial crisis isn’t just how many people got it wrong, but how many people who got it wrong had an incentive to get it right. Journalists. Hedge funds. Independent investors. Academics. Regulators. Even traders, many of whom had most of their money tied up in their soon-to-be-worthless firms. “Inside Job” is perhaps strongest in detailing the conflicts of interest that various people had when it came to the financial sector, but the reason those ties were “conflicts” was that they also had substantial reasons — fame, fortune, acclaim, job security, etc. — to get it right. And ultimately, that’s what makes the financial crisis so scary.

The main cause of financial crisis was deregulation and to give financial industry full freedom, as a result, they acted in their own interest and made millions of dollars at the cost of taxpayers and general public investment. So It is recommended that strong actions are need to be taken against those who are responsible for this crisis, but it is unfortunate to see that those people and institutions are still in power. The Government need to bring reforms in financial industry

One of the major concern arise after watching the film is accountability, can we still trust on those who are in powers?