Inside Job

Wow, yesterday (Dec 7th) evening I watched David Ferguson’s Inside Job on BBC2 and it was the most impressive thing I have viewed in a while.
Since I didn’t catch the start of the film I wanted to know more about it and – aside from the BBC entry – I found it on Wikipedia and also on the official Sony site above and was surprised to see that it has won the Academy Award 2011 for Best Documentary Feature.
I wonder if this film has influenced the Occupy movement and how but if so: well done.
Everybody should watch this film.

It documents the commingling of banks, politics and universities, an incredible network of mighty people fooling the majority, taking risks, sacking in bonuses and eventually – in case of failure – putting the financial burden on the public. These folks do not show a single hint of remorse that their talks or actions have caused big problems, an incredible arrogant and presumptuous bunch which rules the world and for whom the mostic drastic measures should be taken (I wonder why gun loving America hasn’t witnessed any drastic physical measures applied to certain players yet).
A very interesting point was the involvement of the rating agencies who basically rated junk as AAA until the very last minute in 2008 later claiming that their ratings are just opinions and that they cannot take responsibility if someone follows their advice, the same rating agencies who now downgrade Europe and put a continent at risk.
Haven’t markets and investors learned anything from 2008? Dump the rating agencies and dump their ‘opinions’, dump their analyses, once a liar …