Inside JobNAME : JAWAD KARIMI
ID NUMBER :05048569
Inside Job is a 2010 documentary film about the late 2000’s financial crisis . The film is in five parts the film explores how changes in the policy environment and banking practices helped create the financial crisis. The movie starts with showing the Iceland bank where it all started from the land scape is shown green and fresh but then as the corporations moves into the country it becomes muddy and dry land with pollution.
In a context of global economic crisis, everyone appears to be blaming the other in order to find who is responsible for such a global decline in growth, important rate of unemployment, rising protectionism... Thus, it seems relevant to wonder about the key stages of what has been called “The Great Recession” which began approximately on 15th September 2008 with a huge “domino effect” that was born right after the US government allowed the investment bank Lehman Brothers to go bankrupt. Indeed, the American firm implanted in London did not follow UK law, which caused its loss and is one of the numerous convincing facts showing that economic issues are directly linked to business law.
After that, people started looking for elements that should have alarmed them. The example of the Greenbury Report (published in 1995) was destabilizing since it showed that corporate governances were already concerned about excessive executive remuneration because of previous cases that seemed to become widespread and responded to the name of “Fat Cat incidents”. And that is one of the issues approached in the movie “Inside Job”.
Also, it is important to say that even if the Greenbury Report was the first UK report which was really giving some directives for executive remuneration, it was only about “recommendations” whereas, years after, in 2002, the act Sarbanes-Oxley was implemented in USA, and this time, it was giving obligations regarding the audit committee...