Review of Inside Job (2010) by C.j. F — 29 Aug 2011

This film of the financial crisis is a decent synopsis of the financial crisis that effected the world in 2008 and beyond. Kudos to the producers for equally criticizing the Reagan, Bush I, Clinton, Bush II and Obama administrations and for asking hard hitting questions of high ranking officials and academics.

Unfortunately, the film leaves out one very important bit of information... that Barney Frank, who is seen in a favorable light in the film, who was head of the financial services committee in the house of representatives during this time period openly pushed for the financial sector to extend loans to lower income citizens and utilized Fannie Mae and Freddie Mac subsidize this process. The government's role, not just in eliminating the Glass Steagall Act, but also in pushing for progressive values (everyone should have a home) and subsequent lack of regulation are, in my opinion, largely responsible for the epidemic that occurred.

I would like to have seen Brooksley Born interviewed for this film, and I am curious as to why she was not. At least the film never stated that she declined an interview. As CFTC chairman under Clinton, Born pushed to have the derivatives market regulated but was pushed to the side and resigned because of it by Greenspan, Rubin, Summers and Levitt in what might be one of the most despicable acts of government interference/cronyism witnessed in modern American times. Unfortunately, not many know about it.

This film is a good start to much larger topic than can be explained in 2 hours.