How did the financial crisis happen? - PeachParts Mercedes-Benz Forum

kerry · #1 10-30-2010, 10:12 AM

http://www.sonyclassics.com/insidejob/

Saw the film last night. Well worth watching but not a feel-good movie. The levels of corruption in the financial industry and academia are very disturbing.

Darktech · #2 10-30-2010, 10:58 AM

Quote:

Originally Posted by kerry

http://www.sonyclassics.com/insidejob/

Saw the film last night. Well worth watching but not a feel-good movie. The levels of corruption in the financial industry and academia are very disturbing.

Where there is money, there is corruption. This is not a conviction of the free market system but rather a conviction of the crooks who run it.

Hatterasguy · #3 10-30-2010, 11:16 AM

Looks good, I'll watch it.

#4 10-30-2010, 01:26 PM

I'm shocked; shocked, I say.

wagonman124 · #5 10-30-2010, 01:53 PM

Another show that might interest you is "The Corporation". But I concur with Darktech when there is that much money up for grabs some humans moral compass gets compromised. This doesn't mean I support it, but it is what it is.

kerry · #6 10-30-2010, 03:00 PM

I've seen the Corporation. Thought it was right on the mark. We have an amendment proposed for the Colorado Constitution for next week saying a person begins at conception. I'd far prefer a more credible amendment--corporations aren't people.
Inside Jobs is a somewhat different movie as it analyzes the players who overturned the laws which had protected the banking industry from such reckless behavior for many years. Not surprising that Greenspan advocated their removal but I didn't know the role that Summers played in it. I suppose the blame might be traced back to Ayn Rand.

tonkovich · #7 10-30-2010, 07:48 PM

the free market is perfect. glass-steagall was unnecessary. what could possibly go wrong?

Fulcrum525 · #8 10-30-2010, 07:51 PM

Looks like it isn't released anywhere near me at this time....i'll be keeping my eyes open though, the preview clips are quite intriguing.

chilcutt · #9 10-31-2010, 09:06 AM

I am sure the Chinese are watching this with great interest.

SwampYankee · #10 10-31-2010, 09:22 AM

Wait until the commercial real estate market completely collapses, and it's well on its way. The major banks have huge amounts of money tied up in commercial RE already worth a fraction of its purchase price.

raymr · #11 10-31-2010, 10:33 AM

Too much greed, and not enough fear. Those are the two forces that drive markets.

SwampYankee · #12 10-31-2010, 10:35 AM

Quote:

Originally Posted by raymr

Too much greed, and not enough fear. Those are the two forces that drive markets.

And a complete lack of attention at every level.

kerry · #13 10-31-2010, 10:47 AM

Quote:

Originally Posted by chilcutt

I am sure the Chinese are watching this with great interest.

A Chinese economist is featured prominently in the film.

tonkovich · #14 10-31-2010, 02:55 PM

seriously, it's on the "to rent" list. thanks for the review. sounds like enron all over again. and the s & l crisis of the late 80's, early 90's. and the dot.com bubble. wall street in the 20's, and 80's. ( is there a pattern?

)

kerry · #15 10-31-2010, 03:24 PM

Quote:

Originally Posted by tonkovich

and the s & l crisis of the late 80's, early 90's. ( is there a pattern?

)

When we first moved to Colorado, we banked at Silver State Savings and Loan. This was bought by Neil Bush and his cronies, turned into Silverado and bankrupted. We bought our house from a failed savings and loan, in control of the Resolution Trust Company. They had loaned $176k on it a couple of years prior. We paid $30k. (Maybe I shouldn't be complaining.)