My blood curdles with uncontrollable rage when I watch this very well researched and exceptionally informative documentary on the root causes of the global financial crisis, that destroyed millions of lives and brought nation after nation to economic ruin, and which continues to do even more so five years after it all started.
Researched, written, directed and produced by Charles Ferguson, the much respected academic, author and award winning filmmaker (`No End in Sight' | 2007), this absorbing film stands above the rest of such attempts to unravel the mystery of how such a financial catastrophe could come about, by simply proving that there is no mystery to it and that it actually was state sponsored, daylight robbery.
In fact, that is the most appealing quality of this film for me, having had enough of economic experts and news correspondents patronising us by asserting that the global derivative market, that triggered this tragedy in the first place, is very hard to comprehend for us laymen! My answer to these so called experts is very simple: whether a commercial product has a sound-bite name given by some self-important, financial or marketing guru, if its is a con, we the general public are intelligent enough to smell the fraud a mile away.
The problem we have had and are still having is that our governments and financial authorities are all in it together, just making millions for themselves, and in the process, letting the fat cats make trillions by betting on our meagre livelihoods. It wasn't us, the premium paying public who betted our lifesavings on the derivative casino; it was the hedge fund managers, bankers, insurance companies and our financial institutions, who were supposed to know what they were doing and who were by law supposed to look after that little pension pot on which our future depends!
As Ferguson remarks in his interview for the `Making of Inside Job', it was the biggest, bank heist in our economic history. And as retorted by a US senator in a public hearing on the crisis, those who rob banks usually go to jail, while those who robbed all of us trillions of dollars laugh all the way to their offshore banks and continue to enjoy their cocaine fuelled, hedonistic and luxury lifestyles, unchallenged and unabated by our so called leaders.
Like Gillian Tett says in her interview for this film, we no longer know what and who to believe. That, in my opinion is the worst outcome of this crisis. When the public loses faith in their leaders, in their institutions and in their services, apathy replaces fraternity, elections become farcical, as has been the case in Britain for some years now, and democracies therefore fail. That is the likely European and US scenario, but as poverty bites deeper, the so called `Arab Spring' might spread right across the globe, and it is about time too!
I strongly recommend this great film to everyone who cares about the future of our children and grand children. As Matt Damon beautifully narrates at the end of this movie:
"They will tell us that we need them, and what they do is too complicated for us to understand. They will tell us it wont happen again. They will spend billions fighting reform.
It wont be easy.
But, some things are worth fighting for!"