Press materials call this documentary by Charles Ferguson "the first film to expose the shocking truth behind the economic crisis of 2008." Not exactly—it follows and in many ways echoes Andrew and Leslie Cockburn's excellent
American Casino (2009). But as Ferguson proved with his Iraq war documentary
No End in Sight (2007), he can get to a story later but provide so much more context that his film seems definitive.
Inside Job tracks the financial crisis back to President Reagan's first wave of deregulation, revisits the S&L bailout under the first President Bush, and notes the rollback of the Glass-Steagall Act during President Clinton's watch. Ferguson is also admirably forceful and coherent in explaining the complex, highly speculative financial instruments that represent a new low in the American work ethic.
American Casino and Michael Moore's
Capitalism: A Love Story offered more striking images of the human wreckage, but Ferguson is more successful at nailing the perpetrators in New York and their gullible accomplices in Washington.
By
J.R. Jones