MOVIE REVIEW- Morally bankrupt:<i> Inside Job </i>a chilling look at Wall Street
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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