The film focuses on offering a criticism of the profit system. During the “golden days” of American capitalism, everyone is warned by Jimmy Carter of the dangers of worshipping self-indulgence and consumption. In the following Ronald Reagan years where the policies of Don Regan “turned the bull loose” for free enterprises, corporations gained more political power, unions were weakened, and socioeconomics gaps were widened.
Rather than …show more content…
The documentary is 105 minutes long and was released in 2010 in USA. The main subject being global financial crisis of 2008, it features research and extensive interviews with dignitaries.
It begins by analyzing how Iceland was extremely deregulated in 2000 and the privatization of its banks. Prior to the deregulation, banks only considered customers who were good risk and would be able to pay them back. Whereas with deregulation, obscure financial instruments were sold to large institutional investors, most of which only knew they generated short-term profits, rather than looking into their complex underlying value.
The film also looks at conflicts of interest in the financial sector and suggests that these conflicts of interest affected quite a few agencies and academics, as well as played a role in worsening the crisis.
A major theme is the pressure from the financial industry on the political process to avoid regulation, and the ways that it is exerted. One conflict discussed is the prevalence of the revolving door, whereby financial regulators can be hired within the financial sector upon leaving government and make millions.