An inside job
If you have, or know anyone who has defaulted on their mortgage, or if you are out of work or struggling to make ends meet, you are rightly angry.
I just finished watching the film Inside Job. The film catalogs the horror story of how the incredibly wealthy, the incredibly influential or the incredibly wealthy, influential financial people destroyed the global money markets in what amounted to the largest Ponzi scheme ever known. Many things happened to make this possible: Deregulation, financial derivative schemes and a host of other dubious practices, including how the rating agencies such as Standard & Poors, gave totally misleading information to investors. And throughout the film many of the people who were part of these events tap danced their way around some very pointed questions. It’s well worth seeing.
Anyway this blog started when I came across this book cover which covers the same ground … I can’t wait to read it.
I love the typographic concept.
Oh and can someone explain how Wall Street bankers are still earning salaries and bonuses that far exceed numbers I can imagine, despite the fact that many of the financial institutions these people work for, were bailed out with my (and your) taxes?