Tuesday, August 23, 2011

Must See

Inside Job, the Oscar winning documentary takes a sobering look at the financial crisis of 2008.  Charles Ferguson, the filmmaker, posits greedy Wall Street players, economists and bureaucrats perpetrated a colossal crime on the working-class masses.  Beginning in 1981, the deregulation of our financial institutions created an environment for systemic corruption.  It's perplexing and frustrating that no efforts have been made to regulate executive compensations, practices of ratings agencies, and lobbyists.  I can't help but question why Obama appointed several of the men who were responsible for the collapse of Wall Street to key economic positions.  They are not looking out for the average American citizen, proven by the fact that the US's inequality of wealth is now worse than in any other developed country. When Ferguson accepted his Oscar he blew past the pleasantries and stated, "Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that's wrong".  I agree.

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