Fri, 10 December 2010
'Inside Job', the Movie - a Conversation with 2011 Oscar Winner. director Charles Ferguson (& Professor Robert Pollin)
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On Sunday, 27 February, Ferguson, who won the Best Documentary Oscar for his film "Inside Job," used his acceptance speech to air his frustration regarding the fact that no wrongdoers have been sentenced to prison for helping bring about the financial meltdown.
"Not a single financial executive has gone to jail, and that's wrong," he said.
Narrated by Matt Damon, the documentary provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of "a rogue industry" which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China.
Ferguson's previous film was No End in Sight, a documentary about U.S. policy in Iraq.
He received his PhD in Political Science from M.I.T. After selling Vermeer Technologies of which he was co-founder, Ferguson has been a visiting scholar at M.I.T. and U.C. Berkeley, a senior fellow at the Brookings Institution, and wrote three books on information technology. A member of the Council on Foreign Relations, a director of the French-American Foundation, and CEO of Representational Pictures, he resides in Berkeley, California.
Commenting here, too, on the film is Robert Pollin, Professor of Economics and founding Co-Director of the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst. His research centers on macroeconomics, conditions for low-wage workers in the U.S. and globally, the analysis of financial markets, and the economics of building a clean-energy economy in the U.S. He is the author of many books and papers including "Tools for a New Economy: Proposals for a Financial Regulatory System" Boston Review, January 2009, and A Measure of Fairness: The Economics of Living Wages and Minimum Wages in the UnitedStates (co-authored, 2008) and An Employment-Targeted Economic Program for Kenya (co-authored, 2008). He has also worked with the Joint Economic Committee of the U.S. Congress and as a member of the Capital Formation Subcouncil of the U.S. Competiveness Policy Council.
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