Posted by Jonathan J. Miller -Tuesday, August 24, 2010, 9:01 PM
I keep waiting for the day when I will have my fill of books and movies about the financial market meltdown. Although both myself and my colleagues are arguably getting weary of reading and writing about the financial meltdown, it still gnaws at me the scope of greed and stupidity from all parties. And since the housing market has many years of challenges in front of it, directly as a result of the credit meltdown, its not helpful to simply shutdown and tune it all out, no matter how cynical you are.
The focus seems to be wall street only, yet the consumer, lenders, appraisers, mortgage brokers and rating agencies were just as complicit. Of course I haven’t seen the movie yet.
Here’s the movie pitch;
From Academy Award® nominated filmmaker, Charles Ferguson (“No End In Sight”), comes INSIDE JOB, the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs. Through extensive research and interviews with major financial insiders, politicians and journalists, INSIDE JOB traces the rise of a rogue industry and unveils the corrosive relationships which have corrupted politics, regulation and academia. Narrated by Academy Award® winner Matt Damon, INSIDE JOB was made on location in the United States, Iceland, England, France, Singapore, and China.
The trailer is slickly produced and gets your blood boiling. Since Matt Damon isn’t in the trailer as narrator, I’m guessing they are still wrapping up production.
My friend and business associate Dan Alpert of Westwood Capital is one of “The Cast” members: Founding Managing Director of Westwood Capital with more than 30 years of investment banking experience, and a frequent commentator on economic policy and financial regulation.
The movie will be released in October. Judging by today’s dismal existing home sale numbers, I’m fairly confident the documentary’s content will be just as relevant in the fall as it is now.