Sunday, April 3, 2011

Must-Watch "Inside Job" - The Public Got Screwed And We Haven't Held Them Accountable

Courtesy of you can watch the movie "Inside Job," narrated by Matt Damon.  The movie does a good job, generally, in translating into layman's terms how the financial bubble was perpetrated by Wall Street, in collusion with the Government - both Republican and Democratic administrations.

It's great that the public can see some of the truth and facts laid out like this.  And it's great that Congress forced some of the CEO's to be publicly humiliated, somewhat.  But the bottom line is that many people, from Hank Paulson to Angelo Mozillo to the regulators who moved from DC to Wall Street, made $100's of millions derived from willing and motivated corruption and fraud and were never held accountable.  Congress has not held these people accountable.  The Bush and Obama adiminstrations have not held them accountable.  The people of this country have not held them accountable.  These are people who would have been thrown in jail and forced to disgorge their wealth in another era of this country. 

Here is the link:  INSIDE JOB

The corruption and lack of accountability stretches from Alan Greenspan dating back to when he worked for Charles Keating and defended Keating's fraudulent use of S&L money - the losses of which were paid for by the taxpayer ultimately - to today's Wall Street CEO's and even Ben Bernanke.  Watch the movie and you'll see what I'm alluding to with regard to Bernanke and his henchmen at the Fed.

One of these days there will be accountability demanded in this country, only it will like take the form of social uprisings similar to what we are witnessing in the Africa and the Middle East.  Until then, the best way to profit and take advantage of this mess is to continue accumulating gold and silver and mining stocks.  Becuause as long as the fiscal and financial policies of this country continue to enable this fraud and corruption and lack of accountability, more and more capital will flow into gold and silver, which both have been honest money for over 5000 years.


  1. I will check it out, maybe next weekend. I can only hope it will wake people up, but you know how that goes.

    OT, steak tips on the big steel keg today!

  2. Nice. I've been looking at the medium size green egg grill at Ace Hardware now that I've moved into my new digs!

  3. Watched it today. Great documentary. Fred ("The Iceman" - for writing that BS report about the soundness of Iceland's banking system then pocketing a cool $124,000 from Iceland's Chamber of Commerce for his services) Mishkin is such slime ball. Napoleon Dynamite!

    All these POS Wall Street Banksters, Fed functionaries, Ivy League econo-liars, and do ‘see no evil’ politicians deserve what they will get when the masses awaken to the corruption.

  4. I bought that documentary, but haven't had a chance to watch it yet. I've heard it's VERY good.

    And I loved the director's speech when he picked up the Academy Award this year for that documentary. The first thing Charles Ferguson said when he got to the microphone was:

    "Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that's wrong."

    And that statement got a big round of applause from the audience there. Not for the fact that no one's gone to prison, but because Ferguson was saying some people should go to prison for these massive crimes.

  5. LOL. Actually Geithner looks like Napolean Dynamite

  6. I'm a geologist/ project manager in the exploration business in Canada who finished working on a project in early Oct 2008. We had spotty internet in camp and just knew something was going on. I was scheduled to start the next project in 2 weeks and I ended up going 6 months without a day of work or any social net to help me because I am a self-employed consultant. I burned through every penny of my savings before getting back to work but while unemployed (and since) I made of point of coming to understand why something a bunch of a***oles in NYC had done was affecting my life. Part of why I have come to be an avid reader of your blog, and many others.
    This film just solidifies the understandings I have developed on my own. The only thing that could make it better is if they finished the film by illustrating that bankers in Iceland have in fact faced criminal charges-- unlike the USA.
    The net result for me is that I buy physical silver every time I can afford some-- often just a single silver maple at a time. As much as it saddens me I know this is not all over and I am protecting myself. Our banking system here in Canada is much more regulated (eg a bank cannot give you a loan unless there is absolute proof you can pay it back) yet still we felt the resounding effects of fall '08.
    It's a global world and we bottom 99% suffer consequences no matter what country we live in. Thanks for helping to keep us all informed Dave. I'm just waiting to see the revolutionary fervour of the Middle East spread to the "democracies" of the world.
    Justin from Canada

  7. 2 must read articles: