A Brief Review of the Academy Award Holder Documentary INSIDE JOB

There comes a point in the history of the financial world on October 6 and 7 , in the year of 2008, where $ 6.5 Trillion in global stock markets were lost, as measured by Standard and poors BMI Global, an index of major market worldwide. The finance is built on trust and that trust was replaced by fear, a fear of unknown, a fear among the banks that the borrowers will default, a fear of solvency for the financial institutions that heavily rely on short term borrowings, but fear is a persistent emotion ,embedded into our brains , that caused a panic world over. It was a more psychological than financial panic. The world economy went stagnant, stock markets worldwide continued to roil, and banks everywhere remained in firing line, the locomotive of the world economy, the American economy, grew at a meager rate of 0.1 percent a year, massive production cuts and sluggish consumer spending were seen, emerging economies like China and India went effete and fragile. It was the Global Financial Meltdown of 2008. Inside Job, The academy award winner documentary expatiates eloquently the causes, effects and actors of the financial meltdown of 2008. The root of the trouble was the Deregulation of the financial institutions driven by the lust and greed andtoxic assets ---the highly leveraged securities mainly linked to U.S mortgages that banks around the world still had on their books. IMF estimated that a loss on these virtually worthless securities is more than $1.4trillion. The academy award winner documentary is directed by Charles H. Ferguson the film is described by Ferguson as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption. Which begins in a mood of calm reflection and grows angrier and more incredulous as it goes on, is unmistakably punitive The density of information and the complexity of the subject matter make Inside Job feel like a classroom lecture at times, it is compelling, infuriating and comprehensive documentary. In a little less than two hours, Ferguson shows the roots of the near-collapse of 2008, examines the steps that were taken that brought it about, points fingers (with evidence) at the various corporate and financial sector villains who made it possible and those who benefitted most -- and offers a fairly bleak assessment of what the future may hold under an Obama administration grossly infected with the same players who helped it all happen in the first place. but by the end Mr. Ferguson have summoned the scourging moral force of a pulpit-shaking sermon. That he delivers it with rigor, restraint and good humor makes his case all the more devastating.

In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis. Inside Job was well received by film critics who praised its pacing, research,

and exposition of complex material. The documentary is in five parts. It begins with a look at how Iceland was highly deregulated in 2000 and its banks were privatized. When Lehman Brothers went bankrupt and AIG collapsed on September 15, 2008, Iceland and the rest of the world went into a global recession. Word count 550. A review by Mohsin Saeed Msc. LMS. 3rd semester Evening.