Who’s to blame for the GFC? Inside Job (PG)
The global financial crisis (GFC) of 2008 has impacted all of our lives, regardless of where we live. In Australia we’ve been lucky compared to some, but the lives of many millions of people around the globe have been devastated by the high-stakes game some people have been playing with our – and their – financial futures.
This Oscar-nominated documentary begins in Iceland, a republic with a seemingly perfect lifestyle.
There is considerable bitterness there now after international companies were allowed to establish geothermal power plants in the pristine wilderness after the financial system became deregulated.
Banks borrowed beyond their capacity, lending to individuals way beyond their ability to service the debt, and the implosion occurred. Iceland became bankrupt, much to the chagrin of the citizens who remember the country the way it was.
Charles Ferguson, using Iceland as his introduction, proceeds