Inside Job

[poliphilo]

I watched this yesterday. It explains the ongoing collapse of western civilisation, names the guilty- and points out that most of them are still in positions of power and influence (running the Obama administration for instance).

Comments

[veronica-milvus.livejournal.com]

I watched it last night too and you could see blame everywhere - the politicians, the regulators and the senior bankers. However only one of those groups got personally rich from their failings. One of the issues was the lack of transparency in these financial instruments, and a massive helping of emperor's new clothes with every bank thinking that if the other guys were taking on subprime debt, then it must be ok, beause they are clever guys, so we would be mad to miss the opportunity to do the same.

Who can get us out of the mess? Well, Christine Lagarde and Dominique Strauss-Kahn came out of the programme looking cool, and maybe economists such as Ken Rogoff and Joe Stiglitz - and that charming beardie guy in the crumpled shirt from Greenlining.

Laura Tyson was the Dean of London Business School when I was there. Tainted!

[poliphilo.livejournal.com]

Dominique Strauss-Khan doesn't look so cool now- though I suppose his downfall has little to do with economics.

The politicians and regulators didn't get rich? I thought they did. And that a lot of reguulators ended up working for the banks they'd once regulated.