Furthermore, the colourful insights of former Wall Street madam Kristin Davis are particularly intriguing. We also meet Glenn Hubbard, Bush’s former economic advisor, who turns defensive and prickly in response to the interviewer’s pointed questions. The information you learn in this film will inspire both anger and outrage.Īmongst the people interviewed for Inside Job are billionaire investor and philanthropist George Soros, NYU professor Nouriel Roubini who predicted the crisis back in 2006, US Representative Barney Frank, and Eliot Spitzer who sued the major investment banks while serving as the New York State Attorney General. People lost their homes and investors and pension funds suffered heavy losses. The repercussions were severe and spread throughout the economy. Through financial engineering, these ‘toxic’ mortgages were then sliced, diced and bundled up into fancy packages and sold off to outside investors, who later lost out when house prices declined and borrowers defaulted.
Banks provided mortgages to people who were unable to afford them in order to earn greater fees. Inside Job demonstrates how the American financial sector brought the country to the brink through reckless risk taking, complex financial structures, and sheer greed.
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