Storyville - Inside Job - recommended
Dec. 8th, 2011 11:04 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
abendgulesLast night I watched a documentary called 'Inside Job', that illustrated in plain and understandable language the sequence of the mortgage bubble and the following credit crunch. For those getting BBC, it's on iPlayer til 14 December, and I earnestly recommend it.
I'm not a financial wizard, and talking about financial instruments usually puts me to sleep. But this presentation explained to me in terms I could understand how the bubble developed, and how it came to end...and the winners, and the losers.
It's a grotesque story - it's not a random occurrence, and is not explained by some kind of natural process. It's hard to conceive of a more deliberate financial rape of ordinary people (Americans in this example, but it represents the UK situation too).
If you have some time, and access, do watch it.
I'm not a financial wizard, and talking about financial instruments usually puts me to sleep. But this presentation explained to me in terms I could understand how the bubble developed, and how it came to end...and the winners, and the losers.
It's a grotesque story - it's not a random occurrence, and is not explained by some kind of natural process. It's hard to conceive of a more deliberate financial rape of ordinary people (Americans in this example, but it represents the UK situation too).
If you have some time, and access, do watch it.
