economic crisis

At Campaign for America's Future, Dave Johnson quotes Naomi Klein's "Shock Doctrine," reminding us that back in 1993 Canada faced its own debt crisis. So dire that when Moodys analyst Vincent Truglia issued a favorable report on the Canadian economy, Truglia says, “one Canadian... from a very large financial institution in Canada called me up on the telephone screaming at me, literally screaming at me.” Why?

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This is a must-see film by Academy Award® nominated filmmaker, Charles Ferguson. Through extensive research and interviews with major financial insiders, politicians and journalists, INSIDE JOB traces the rise of a rogue industry and unveils the corrosive relationships which have corrupted politics, regulation and academia.
Watch trailer here: www.sonyclassics.com/insidejob/

DIRECTOR’S STATEMENT

In 1999 on the eve of passage of the Gramm-Leach-Bliley Act, Senator Byron Dorgan, D-ND, addressed the Senate and warned of the dangers we might face in the future as a result of the legislation. As Skymutt points out in his piece at DailyKos, we were in the throes of an economic boom at the time. Republicans pushed to approve legislation to deregulate the financial services industry - specifically to repeal part of the Glass-Stegall Act of 1933 which prohibited banks from offering insurance, investment and commercial banking services. It wasn't wisdom that led these Senators to pass this legislation, it was greed.