Rob Coyte's Blog

I watched this film last night and it was a good overall package describing what happened during the Global Financial Crisis (GFC). Whilst there were no new discoveries the film does provide a good overview for the lay man to explain what went wrong.

 

It really focuses on the fact that the whole finance food chain is broken and is in desperate need of reform. It also makes the statement that Obama will not be able to deliver the needed reform as he has engaged “current players” to be important members of his staff.

 

The ineffectiveness of regulators and politicians is a focus of the film. You could even draw a longer bow and say they knew what they were doing and profited themselves. The same can also be said about the academic’s who offer “unbiased” advice and the absolute ineffectiveness of the credit ratings agency’s who got it so wrong. By the time you finish listening to their disclosure and what they are assessing you can see that it is an absolute waste of time paying any attention to anything they say.

 

The world continues on.

 

Do you realise that the people that caused the heartache of the GFC have all got away with the money they have stolen? Not one has been jailed or told to give back the money. It has been such a huge transfer of wealth to the rich that effectively figured a way to steal from the poor.

Rob Coyte | Friday, July 29, 2011
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