Enron & Inside Jobs

Enron: The Smartest Guys in the Room does two things exceptionally well. It provides a detailed autopsy of what happened (without becoming so technical that everyone except the lawyers and accountants in the audience become lost) and it warns against the culture of “synergistic corruption” that has infiltrated all of corporate America. The film also offers insight into some of the unsubstantiated rumors that have been whispered since the energy giant’s collapse. Just because director Alex Gibney doesn’t venture deeply into areas where there aren’t facts to support his claims, that doesn’t mean we aren’t able to draw conclusions about things like payoffs, bribes, and the possible benefits accorded to Enron by the close relationship between Ken Lay and the Bush family. However, I watched Inside Job. It’s a movie about the global financial crisis that began in 2008 and continues to this day. This movie was made in 2010 and is narrated by Jason Bourne. The movie begins with a bit of history and how the situation arose. The eighties in particular were very good to the financial industry. In 1972 Morgan Stanley had about 110 personal, one local office, and working capital of 12 million dollars. By 2008, it had 50,000 workers, offices in many nations, and capital of several billion dollars. Other firms saw a similar increase. The director draws a direct comparison to the savings and loan crisis in the righties, of how these firms used depositor money to engage in speculation and eventually required their own bailout.

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