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Ian R. Campbell  -  Mar 18 12:53 PM 66 Posts 1 Follower 0 Following
Inside Job - The Movie

A month ago I wrote in one of these e-mails that I just watched the movie narrated by Matt Damon titled 'Inside Job'.   The movie, which turned out to be an Academy Award winner, is principally comprised of a large number of interviews of people who were 'in and around' the financial events that led to the collapse of Lehman Bros. in September, 2008, and the subsequent bail-outs, government subsidies, quantitative easing, etc. that have been engineered in the aftermath of the events leading up to and subsequent September, 2008.  You can now purchase the movie on I-Tunes (U.S.$24.99), and likely elsewhere.

The last time (and only previous time) I mentioned this movie, I suggested that if you invest directly or indirectly in equities you must watch this movie if you have not already done so.  I then said (1) I recommend you watch the movie, and reflect hard on what may be detail you don't currently know, (2) consider the difficulty, if not impossibility, of 'timing the equity, commodity and debt markets', and (3) remember, particularly in what I see as these current uncertain times the old adage 'rising tides rise all boats, and falling tides drop them all'.
Topics:   Inside Job, Lehman Bros.
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David K Reid  - Mar 19 05:06 PM1 Posts0 Followers0 Following
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I thought that while Inside Job provided some good information about the greed that was one of the factors that caused the financial crisis - that the slant of the movie was mostly wrong.  They mostly blamed the crisis on a lack of regulation and suggested that more government involvement would have been the answer.  They were suggesting that deregulation and free enterprise failed. 

My thought is that it was mostly government actions that caused the crisis.  First the U.S. went off the gold standard and mostly lost all discipline in controlling the money supply.  Then Greenspan "the maestro" arfticially kept interest rates low, every time he perceived any problems in the economy.

Finally the government used Fannie Mae and Freddie Mac as instruments to provide low income people with mortgages on the ill thought out idea that home ownership is a "good" thing and should not be stopped simply by people not being able to afford these houses.

Mostly I disagreed with the premise of the movie even though I also find some of the actions of the main players outrageous.


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Ian R. Campbell  - Mar 21 09:13 AM66 Posts1 Follower0 Following
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Thanks David for your thoughtful comment.  The quality of this comment is the very thing we are looking to encourage at Stock Research Portal.  Please don't hesitate to add further to our Forums.
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