Inside Job Essay
In: Social Issues
Inside Job EssayJoshua Zemsky
Inside Job Extra Credit
First of all, I think it is extremely comical that man with a net worth of $65 million (Matt Damon) is going to narrate a film that claims that the smartest men in the world are too greedy and are over-compensated. I do not believe I have ever seen such a closed minded, uneducated propagandas film before.
This film was really just a way to bash Wall Street. It was not very viable and many “facts” were skewed. It was made in a very intelligent way though, to make what they were saying seem like they were good facts and statistics. One thing that really stood out when I was watching was when they were talking about the Bush tax cuts and how rich people saved more money from those cuts then poor people. They do not explain percentages though. For example, say person A makes $10 and person B makes $100. If person A saves 10% of that, he is saving $1. If person B saves 5%, less than 10%, he saves $5. So he is saving more total money, but not as much of a percentage of his income. That is a HUGE failure of the movie to identify and state that. Those are not facts that the filmmaker wants to show though, because it will help to disprove his argument.
The movie talks about how poor de-regulation is for Wall Street. Why though? Because there have been a few setbacks? Overall, has Wall Street and the financial industry not been extremely prosperous? And has the United States economy as a whole not been extremely prosperous? De-regulation is actually the reason that the United States overcame then economic issues that it was facing in the late 1970’s, and early 1980’s. For some reason, Matt Damon decided to not talk about that in his narration of Inside Job.
He also forgot to mention one tiny detail about the United States government under President Bill Clinton. His administration went to great lengths to increase the national homeownership rate. They promoted very little down payments and also pushed for...