Inside job movie by charles ferguson Review Example | Topics and Well Written Essays - 250 words

Inside job by charles ferguson - Movie Review Example The first part (How We Got There) talks about the high deregulation of Iceland in 2000 and how it its banks became privatized. The world and Iceland thus plunged into a global recession following the collapse of the AIG and the bankruptcy of the Lehman Brothers. The first part shows how deregulation created corruption where several home owners, for instance, were granted loans they could never settle. The second part (The Bubble) is the period from 2001 to 2007 which saw a housing boom like none other where speculators would purchase credit default swaps and bet against collateralized debt obligations they did not own. As the AAA rated investments sky rocketed, the third part (The Crisis) highlights how the CDO markets collapsed with investment banks left with huge loans and real estates and CDOs they were unable to unload. The recession then ensued in November 2007 with Bear Streans going bankrupt in March 2008. Freddie Mac and Fannie Mae (both on the brink of collapse) were seized by the federal government as others such as AIG, Lehman Brothers, Chrysler and GM collapsed or became bankrupt. Foreclosures hence soared in the United States with the world’s financial system creeping to the depths of its grave. In part IV (Accountability) the government continues bail outs, banks start to gain power again as top executives walk away from their insolvent organizations. In the fifth part (Where We Are Now) many employees in factories have since been retrenched amid weak financial reforms from the administration of President