This documentary does an outstanding job of bringing home the details of how a series of truly bad financial actors catalyzed the current (and still ongoing) financial crisis. Many of the specifics of this story will not be new to readers of the outstanding books on the financial crisis. However, to see all the threads of this story pulled together with such clarity and dramatic power is extremely bracing. Equally importantly, this documentary brings home another crucial point, which has previously been little understood. Some segments of academic “economics” have been bought by elite financial interests (through donations, speaking fess, rich consulting contracts, etc). The professional academy is supported by all of us (through massive tax-payer-funded government support of both public and private universities). Thus, this breach of trust is especially egregious. We have, tragically, come to expect our politicians to be prostitutes, but we should never tolerate whores in the academy. It will be of the greatest interest to see how (or, sadly, if) the economics profession moves to clean up its house. We should all see this documentary and have its message ever in mind as we listen to the dubious pronouncements of politicians and bought economists. Those who have criticized this important piece as “socialists” are either clueless or have some very narrow interests to protect – interests not confluent with most of the American electorate. If you want to be a part of taking back the American economy for most Americans (rather than the hyper-rich) this film is a must-see.
Reviewed by Paul M. Bingham and Joanne Souza
Coauthors of “Death from a Distance and the Birth of a Humane Universe”
Starring Matt Damon, Directed by Charles Ferguson
Representational Pictures (2010)
