MOVIE REVIEW- Morally bankrupt:<i> Inside Job </i>a chilling look at Wall Street
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I don't fully understand the workings of the derivatives and credit swaps we've heard so much about. But I'm learning. These are ingenious computer-driven schemes in which good money can be earned from bad debt, and Wall Street's Masters of the Universe pocket untold millions at the same time they bankrupt their investors and their own companies.
This process is explained in Charles Ferguson's"Inside Job, an angry, well-argued documentary about how the American financial industry set out deliberately to defraud the ordinary American investor. The crucial error (in administrations of both parties) was to allow financial institutions to trade on their own behalf. Today many large trading banks are betting against their own customers.
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2 comments
And it will happen over and over again. No reforms will ever work, we already have laws against insider trading, so what?
I say invest in your relationships and your health. Keep your debt low and let the scum feed on each other.
I Have known this for the last couple of years. Havnt traded a single stock in 8 years. I Have however expanded my garden and recycle cans for profit.
Most of these companies today are fake and manipulated by the top insiders...every company manipulates thier stockholders and the general public...these are the real terrorists hurting innocent Americans.