Inside Job

I was watching some more financial films for our finance class and finally managed to watch the documentary, Inside Job. I say "finally", because my friend and I attempted to watch it last year and we fell asleep because it was late and it sounded complicated. But now that we've learnt about financial institutions and markets for a whole term, we understood everything they were talking about and recognized a lot of the people in it. It was so interesting, I couldn't keep my eyes off! And we kept pausing, taking notes and shouting "What the heck is wrong with these people?!". There were SO many people/institutions involved in the 2008 Financial Crisis! And everyone who helped cause it KNEW that it was wrong! They wanted a short term cash gain at the cost of their firm, the tax payers, the home owners and the whole world economy!
Wow.
Anyway, the film was very well made! It is a little difficult to follow without knowing some financial terms because the financial people they interview try not to answer the questions directly by using complicated words. haha.

I also watched Rogue Trader, suggested to me by an MBA student at IUM who read my blog. Thank you! It was interesting because unlike some of the other films, it was fictional and showed how a guy tried to cover up the losses he made, making him look good at first but ends in the collapse of the bank and his own life (he ends up in jail, his wife leaves him). and the sad part is that he didn't manipulate the accounts for his own profit, just that he didn't want to admit the mistakes he made and kept thinking he could beat the market. Well, I guess you just can't.