The Journey…. Directed by Charles H. Ferguson and was released on 8 th October 2010 . Won Oscar award for the best documentary (2011) and 5 other awards in different award events. The whole movie is narrated by Matt Damon. Budget: $20 million Opening week: $39000 Gross: $4.5 billion Perfectly named “Inside Job”.
The Story…. Movie is divided into 5 Parts How we got here The Bubble Crisis Accountability Where we are now
1999 VIOLATED THE GLASS-STEAGAL ACT 2001 GRAMM-LEACH-BLILEY-ACT Short-term Financial Crisis Financial Institutions in Internet Companies Securitization Food Chain Events before the “Bubble”
Accountability Top Executives were paid bonuses instead of being fired Bankers complained Regulators did not do their job $ 5 Billion for lobbying & campaign contributions Academic Economists advocated for deregulation Conflicts of interest as these economists were consultant to companies
Where are we now? The American economy is weaker than before Unemployment and inflation are at a rise Obama came with a lot of promise but the government did not prosecute any senior executives The government did not bring any financial reform and this resulted in………
Wall Street Government
Beware of complex financial instruments. Do not believe in Rating agencies – “Just Opinions”. Bonuses: A step towards Bankruptcy. Understand the implications that Conflicts of Interest could have. “Greed is the big plague of mankind’ A few lessons…
Presented By PAYAL BHANDARI (32) PAREESH BHATIA (31) KRITIKA SINGH (30) SYRIL THOMAS (29) MEHER KOMAL (28) LOVESH LOONKER (27) LIKITHA PADIYALA (26) KHUSHBOO GUPTA (25) ? ANY QUESTIONS