Did the U.S. learned from the financial crisis? The opposite is true, says filmmaker Charles Ferguson. His brilliant documentary "Inside Job" shows how Wall Street government and make common cause again. The fatal: No one protested as Spiegel Online reported.
It is an almost intimate soiree. Just nine spectators lose themselves in the hall of the Angelika Film Center, a house cinemas in New York's Greenwich Village. This is the film that has its public premiere here, important, harrowing and deeply shocking. Any American who wants to really know who was to blame for the financial crisis (and no doubt the next one will fault), should see him.
In "Inside Job", his brilliant haunting documentary about the global crash, Charles Ferguson has just to the contrary, this story is far from over - and has even begun to repeat itself. So what, says Scott Talbott, a top lobbyist for the banking industry, on demand by Ferguson with a nonchalant shrug, "Everyone makes mistakes."
because of errors. "This crisis was not an accident," says Ferguson. But a world, literally bank robbery, the losses caused trillion and millions of people lost the existence, from Chicago to China - but for how "inside job" in a cool rage remembered until today not a single culprit has been prosecuted. Instead, the same people pulling the strings again, on Wall Street and in Washington, and receive a bonus from new premiums.
You'd think there would be on the subject to say anything more. But no one captures the chutzpah of the perpetrators so cold, the leaders unmasked so polite, the moral abyss of light as bright as Ferguson, a political scientist with reporter talent. Unlike the polemicist Michael Moore ("Capitalism: A Love Story"), that can handle cuts his theses, or Hollywood whiners Oliver Stone ("Wall Street: Money Never Sleeps"), who lost in a stylized drama, maintain Ferguson to focus on essentials .
His 108-minute tour de force through the maze of deregulation and derivatives, ratings and junk mortgages, CDO and CDS to a the cynical Manipulation of the system better than previous in mind all the tracts. A sobering lesson that just now seems necessary, since many Americans the true nature of the crisis have already pushed back - and, warns Ferguson, happily sliding into the next craze.
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In fact, in surveys, more and more U.S. citizens their President Barack Obama responsible for the recession - even though the beginning of the financial crisis did not in office. Republicans, however, the amount of money received from Wall Street and who adhere to the fatal policy of deregulation measure, voters in financial matters recently greater competence than the Democrats. In the congressional elections in three Wochen könnten die Republikaner die Macht im Kongress zurückerobern.
Amerikas hat ein kurzes Gedächtnis. So lief Fergusons aufwendig produziertes, von Matt Damon erzähltes Lehrstück am Wochenende denn zunächst auch nur in zwei New Yorker Programmkinos an, denen schrittweise weitere, kleine Häuser folgen sollen. Gleichzeitig sind die Megaplexes von eskapistischer Massenware belegt, darunter einer auffallenden Anzahl von Horrorfilmen für das bevorstehende Halloweenfest.
Dabei ist "Inside Job" der ultimative Horrorfilm, voller gruseliger Schurken und tragischer Helden. Wie "Freitag der 13." beginnt auch diese Höllenfahrt in trügerischer Idylle - in diesem Fall in Island, dessen Finanzsystem End of 2008 collapsed spectacularly. Greed, stupidity, Bankenzockerei: The causes of hair-raising sound provincial and away so far - notes to the audience that it was the same as the U.S. pulled into disaster.
The villains - bankers, rating agency heads, lobbyists - skims and rewarded himself with mansions, yachts, private jets, strippers, hookers and coke, without ever having to fear real consequences. Excesses that can be Ferguson vividly describe the Wall-Street-psychologist Jonathan Alpert and the VIP madam Kristin Davis and the oldie "Takin 'Care of Business" under the paint.
politicians, economists and longtime Fed chief Alan Greenspan gave the collusion Flank protection. The only one who pulled the scoundrels to justice, was the New York Attorney General Eliot Spitzer and short-term governor. When the crash itself a whore scandal popped on Wall Street - their immorality remained unpunished - the champagne corks, meanwhile, Ms. Davis, a candidate today as the standard bearer of the anti-Prohibition Party for the governorship.
From a distance, the mechanisms are so predictable that it is inconceivable that no one will have noticed something. Almost no one: Ferguson is mainly for the few prophets to express themselves who are the chaos seen, but were laughed at, year after year. 2005 warned Raghuram Rajan, chief economist at the time of the International Monetary Fund (IMF), in a "global meltdown". Economics professor Nouriel Roubini oracle 2006: "The bubble is bursting." And in 2007 the financial journalist Allan Sloan, the tricks of the banks criticized as "absolutely mad".
But even the New York Times did Roubini as "Dr. Doom" from, and Larry Summers, then President of Harvard University, Rajan derided as "enemy technology. No wonder: When U.S. Treasury Secretary under Bill Clinton, the Democrats forced Summers, the deregulation of Wall Street. Later he was lucrative consulting jobs selbige industry that he protected, a multimillionaire.
Summers name appears again and again in "Inside Job" Under his Care highlighted the U.S. government in 1999, the separation between investment and commercial banks, which allowed the consolidation of megalomaniac à la Citigroup first. He switched from Brooksley Born, as the head of the CFTC pointed out early on the danger of derivatives. He headed the Commodity Futures Modernization Act, which was 2000, offered financial speculation-free path that would take eight years later the whole house of cards tumbling down.
Summers personified, as Ferguson points out, the revolving door between academia, Wall Street and politics, purring even after the crisis. Obama, who had called the race is a "new culture on Wall Street called, Summer 2009 the chief economic adviser - of all this man, who was an early contributor to the crisis. End of the year will now return Summers to Harvard to train the next generation of business gurus. Ferguson sighs: "Nothing has changed."
a depressing Erkennntis. The rags came away with it, even bagged nine-digit "compensation" field. Solo Stan O'Neal, who burned as CEO Merrill Lynch, took home $ 162,000,000. He then moved to the Board of the largest U.S. aluminum company Alcoa, whose former chief executive a "strategic vision" of the opportunists praised.
Others sit undisturbed on her throne. About Glenn Hubbard, dean of business at Columbia University, the George W. Bush mitformulierte tax breaks for the millionaire class, now the Obama administration, "she advises," and is sponsored by Wall Street. If that was not a conflict of interest, asks Ferguson. Hubbard responded offended ("I doubt") and breaks off the interview.
And speculates in a consolidated Wall Street against the next bubble. No crisis protagonist was convicted of Obama's financial reform has shrunk thanks to an army of lobbyists minimum dimension, Goldman Sachs cashed more than ever, JP Morgan Chase is the new Citigroup.
has meanwhile reached the poverty rate in the U.S. historical record. The U.S. economy 95 000 jobs lost in September. The income gap as far apart as never before, education and training is expensive for more Americans.
"A Wall-Street-government," says Ferguson also because of Obama's team. Refused all interview requests, Advisor to the President. Just as Federal Reserve Chairman Ben Bernanke. He has watched idly since 2006, as the economy plunged into crisis unabated. It has not hurt him: his office has just been extended until.
Source: Spiegel Online
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