Inside Job

[Kobi]

Inside Job is a documentary on the events that lead to the recent economic meltdown. It is an important film to see for the following reasons:

1. It traces the legislation that was put into place after the Great Depression to stop bankers from gambling with investor money;

2. It traces the government overturning these safeguards beginning with Reaganomics and continuing thru to Obamanomics.

3. It shows how the unregulated savings and loan industry managed to imploded in a decade leading to a 124 billion dollar taxpayer bailout, and, at least, the prosecution and jailing of those executives. This should have been a warning to the powers that be but it was ignored for the sake of money and power.

3. It shows how losing these safeguards led to consolidation in the financial sector to 5 conglomerates i.e. Citicorp, BOA, Merrill Lynch, Goldman Sachs, and JP Morgan; 3 rating agencies, and 3 insurance conglomerates.

4. It shows how these financial conglomerates devised the invention of and manipulation of deriatives for their own financial gain.

5. It shows how the financial conglomerates paid the rating agencies to give their creations AAA ratings, and then bought insurance from places like AIG betting the derivaities would fail which anyone versed in basic mathematics would have known.

6. It shows how they deceived their investors by failing to disclose the inherent conflict of interest involved with selling something while you are betting on its failure.

7. It shows how no executive or company involved in this meltdown was investigated, charged, indicted, or prosecuted while the taxpayers were on the hook for a minimum of 800 billion and executive bonuses continued in the obscene category.

8. And the worst part is that it shows how the players in this game remain the same....same names over and over.....going back and forth between the boardroom, the corporations, the government, the regulatory agencies, and academia.

The saddest part is the man who ran for President on a platform of change, has appointed most of these players to key positions with his administration. From both his Chiefs of Staff, to the secretary of the treasury, to the head of the federal reserve, to the head of the sec, it just goes on and on and on. One big incestuous hoax on the Anerican people from Reagan thru Obama.

What irks me, is they have created this system that is very obvious if you look at it. It continues to be unregulated because Obama couldnt instill the reforms needed with the people he appointed and is listening to being part of the problem. It will blow up again simply because our financial sector has become one giant ponzi scheme just waiting to unravel.

And, it is not just the financial sector. A similar pattern can be seen in health care, agriculture, transportation, energy, you name it, there is a similar pattern of destructive behavior.

And the process will just continue unless WE, the collective American citizens WE, do something to change it. If we dont hold these folks accountable, if we keep voting between the lesser of two evils, if, we keep believing the bullshit....they will continue to find ways to screw us over and make us responsible for their poor decisions.

Look at the BIG PICTURE not your own personal agenda. There is an awful lot at stake here.