7 of 8 people found the following review helpful
Strong and well made documentary !,
This review is from: Inside Job [DVD]  (DVD)"The global economic crisis of 2008 cost tens of millions of people their savings, their jobs and their homes. This is how it happened."
Opening of the movie...and screen over to the beautiful Icelandic landscapes and not so beautiful Icelandic bank disaster. The documentary smoothly continues to tackle the recent economic crisis in a structured way, including plenty of interviews with (most of the) key players, uncovering the underlying issues following 5 chapters. Some of the key players refused for obvious reasons, making this documentary still a very strong portrait.
Part 1 - How we got there
Part 2 - The bubble (2001-2007)
Part 3 - The crisis
Part 4 - Accountability
Part 5 - Where we are now
As the documentary illustrates nicely, it might all have looked complicated at the time, but in fact it was plain simple and this movie follows up on the promise to explain what drove this bubble to its expansion and more...Excellent done with great cinematography in between!
Investment banks, rating agencies, insurance companies, US presidents, foreign ministers, policy makers, lobbyists, university professors, institutional (control) organizations...all get covered in a clean and clear manner.
Worrisome is the realization that very few has been done lately to mitigate the risks to avoid such crisis in the future. Denial is still present and the documentary shows this in a superb way by interviewing some academics and lobbyists with their (documented) conflict of interest in place.
Feedback loops are important in any system, which is basic system thinking. The interesting element is that in nature as soon as you remove any feedback loop (or any feed forward loop) from a healthy cell, you end up with a cancer cell. And who wants that really? Applying this system thinking principle to the present situation and knowing that part of these feedback loops are still absent (by ignorance, greed or plain denial), future economic disasters could happen again. Related to this principle it is interesting to know that the planned regulations as promised at the time by Obama (promised before election) are still not in place (now being Q2 2011), leaving the window wide open for future meltdown sequels.
The strength of this documentary is showing the plain facts (with numbers!) and matching interviews in which hard questions are asked to key players. Sure this documentary shows perhaps one side of the dollar but it is an important side.
This is certainly NOT a Michael Moore style of documentary or interview.
Also worthwhile to see are the "deleted scenes" (under special features of the menu), with excellent contributions of Eliot Spitzer, Charles Morris, Dominique Strauss-Kahn, Gillian Tett, Jerome Fons, Lee Hsien Loong, Satyajit Das, Simon Johnson and Yves Smith.
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Showing 1-3 of 3 posts in this discussion
Initial post: 18 Sep 2011 08:46:26 BDT
An observer says:
An excellent assessment. However, the problem is not that there are no feedback loops but that only positive and not negative feedback loops have been entertained. Like Forrester's industrial dynamics, the loops have been building up to the crisis but those positive loops are continuing. The Chaos Theory explains what we are going to face as a result of the state we are in.
Posted on 28 Dec 2011 20:48:57 GMT
Thanks for the tips about the deleted scenes.
In reply to an earlier post on 29 Dec 2011 07:47:09 GMT
An observer says:
Besidec is absolutely right. The role of positive feedback in the absence of negative feed back can be good (encouraging good behaviour) or bad (as in this case keep finding ways of exploiting the victims. The financial crisis is the first break and the next one is going to be in tsunami proportions. It is three years since the financial crisis and yet we do not have leaders strong enough to tackle this.
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