The bad side of the US financial system

Eleonore 2022-12-25 05:25:43

A very good documentary, which basically explained the ins and outs of the financial crisis. Some comments say that the film is not objective, and think that "it's basically the words of the director and writer, just to support their own views, and all those who oppose it are classified as fools." I think this kind of remark is funny, maybe he doesn't even see it. Know the ins and outs. In fact, the conclusion is not important, the important thing is a series of facts. For example, Goldman Sachs bet on the products it sells to its clients, and both sides made huge profits. In the end, no high-level executives were held accountable. Isn't this a very sinful thing? It is equivalent to a doctor selling a drug to a patient with a little problem, telling him that this drug is a bit risky, but relatively safe. The patient believed him, and the doctor successfully earned the consultation fee and the drug fee; then he went to the insurance company and bet that the drug would go wrong and the patient would die. Later, the drug really caused the patient to die, and the doctor made another profit. insurance money. Amazingly, the doctor was not held accountable in the end, and was reused by the hospital. .

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Extended Reading

Inside Job quotes

  • Andrew Lo: Recently, neuroscientists have done experiments where they've taken individuals and put them into an MRI machine. And they have them play a game where the prize is money. And they noticed that when these subjects earn money, the part of the brain that gets stimulated is the same part that cocaine stimulates.

  • [last lines]

    Narrator: For decades the American financial system was stable and safe. But then something changed. The financial industry turned its back on society, corrupted our political system and plunged the world economy into crisis. At enormous cost, we've avoided disaster and are recovering. But the men and institutions that caused the crisis are still in power and that needs to change. They will tell us that we need them and that what they do is too complicated for us to understand. They will tell us it won't happen again. They will spend billions fighting reform. It won't be easy. But some things are worth fighting for.