06/04/2014 by Don Quijones
[Most of you will have no doubt already seen Charles Ferguson’s superb, award-winning documentary on the 2007-08 financial crisis, Inside Job. This week’s Film of the Week is for the few of you that haven’t, as well as those of you wouldn’t mind watching it again. After all, we all need periodic reminders of just why global economic conditions are now so desperately dire. To paraphrase Bill Cinton’s 1992 campaign strategist James Carville, it’s the banks, stupid!]
“In September 2008 the bankruptcy of the U.S. investment bank Lehman Brothers and the collaspe of the world’s largest insurance company, AIG, triggered a global financial crisis. The result was a global receccion which cost the worlds tens of trillions of dollars, rendered 30 million people unemployed and doubled the national debt of the United States… This crisis was not an accident, it was caused by an out-of-control industry. Since the 1980s, the rise of the U.S. financial sector has lead to a series of increasingly severe financial crises. Each crisis has caused more damage while the industry has made more and more money.”
Inside Job (subtitles in Spanish)
If you liked this movie, you might want to check out our rather humble, though steadily growing, collection of Films of the Week.