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'Inside Job': Rampant Conflicts of Interest, Cronyism Led to 2008 Crisis

Oct 19, 2010 - 2 comments
Tags:

recession



  It you wonder how it all started, here is one persons view.
      From  http://finance.yahoo.com/tech-ticker/article/535519/Inside-Job%3A-Rampant-Conflicts-of-Interest%2C-Cronyism-Led-to-2008-Crisis%2C-Charles-Ferguson-Says

     The collapse of Lehman Brothers in September 2008 sparked a global financial crisis that pushed the U.S. economy into the worst recession since the Great Depression. Two years later, billions upon billions of taxpayers’ dollars have been spent on government bailouts to save the banks that started the contagion, yet not one person has been held accountable or slapped with criminal contempt.

In his new documentary Inside Job, filmmaker Charles Ferguson spoke to some of the biggest names from Wall Street to Washington to academia to get a first hand account of what caused the 2008 financial meltdown and how the financial system reach its breaking point.

Ferguson points to 20 years of deregulation, rampant greed (a la Gordon Gekko) and cronyism. This cronyism is in large part due to a revolving door between not only Wall Street and Washington, but also the incestuous relationship between Wall Street, Washington and academia.

   The rest of the article is worth reading.

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535822 tn?1443976780
by margypops, Aug 29, 2011
I missed this one   have to tell you I agree with what you posted here ...it continues ...

Avatar universal
by abandonned, Jan 31, 2014
there is in fact much more than this

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