For my module-end project, I will be watching the documentary called “Inside Job” narrated by Matt Damon created in 2010. The documentary is well-known for providing a comprehensive analysis of the 2008 financial crisis. Many people have said that the documentary does a good job of explaining the reasons behind the financial crises. By reading the documentary’s plot summary, I was able to find out that the documentary goes into many of the causes of the financial crises.
Topics include corrupted politics, the housing bubble, wall-street executives and systematic corruption by the financial institutions. The documentary is split into five parts: Part 1: How we got here? – Explains the history behind bank deregulation. Part 2: The bubble (2001-2007)-Analyzes the housing bubble, credit default swaps and subprime mortgages. Part 3: The crisis- Shows the effect of the financial crisis. Describes the recession of 2007-2008, stock market plummeting, lack of credit available by banks, global implications etc.
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Tope executives were able to walk away with no consequences and academia continued supporting bank deregulation. Part 5: Where we are now? – No major reform made on credit rating agencies, explains Obama financial relief program and the losses of jobs that occurred. By watching the documentary I will be able to learn all the reasons and implications of the financial crisis and tie it together.
I plan on taking notes while watching the documentary and then writing a report on all the information I learned from the documentary. Many complicated concepts learned in class (credit default swaps, securitization, derivatives) are explained in the movie in layman terms. Therefore I will be able to gather a better understanding of these complicated concepts and connect it with the issues faced in the financial crisis.