Comments on Golden State Liberty: GSL Movie Review: Inside Job

Thanks for your comments. I guess I see things a l...

2011-05-29T07:23:50.730-07:00

Thanks for your comments. I guess I see things a little differently. Did investment banks sell securities that were of far poorer quality than their rating? Sure. But I tend to look at that partly as a case of entrepreneurial error (e.g., in the case of new investment vehicles, the ratings were based on data that didn't include any failures) and of crony capitalism (i.e., why worry about assets if your buddies in DC can be expected to bail you out?).

RE: 1. Where actual fraud occurred, absolutely.
RE: 2. Agreed. They never should've bailed out Wall Street in the first place.
RE: 3. The political system is designed to produce the outcomes we have, so I doubt we'll ever see this.
RE: 4. I disagree with most of this. Abolish the Federal Reserve and you'd see most of the problems depicted in the film disappear. A genuinely free market and a smaller government would take care of the rest.

Good points. Key element I take from both the abo...

2011-05-29T02:39:39.965-07:00

Good points. Key element I take from both the above article and the film is that mistakes were made. I agree regulation for regulation sake probably won’t fix the problem. However the film does clearly showcase how bankers where very eager to sell artificially high rated investment products, when it new that they were not solid investments. I agree with the comment in the film that it seems more and more like the work SERVICE is in question. I have no problem paying my investment broker a fee for his wisdom, when it’s wisdom I’m getting. What Goldman and many other investment banks sold were lies and there’s one work that missing Justice…….. George Soros, Dominique Strauss-Kahn and Elliott Spitzer, Barney Frank…..as Information honesty brokers…….. boy if that not the pot calling the kettle black then I don’t know what is…….
1. Let’s get some justice. Fraud is fraud
2. Gov’t should get all it bailout money back before any new bonus go out……No brainer
3. Bankers, politicians, regulators, and borrowers need to do the right thing…… don’t need new regs to tell you that
4. Let’s stop trying to figure out who to blame…..Lets start fixing this.
a. Require mandatory 20% down payment on homes or 4 year clean credit history and proof of income…..Basically….Loan officers need to do their job
b. Change US tax law to simple value added tax…..
c. Increase tariffs on goods produced outside of US
d. Have investors and SEC rate funds performance
e. Increase domestic production of energy…..lots of jobs there
f. Term limits on politicians: No more than two terms in any branch of federal gov.

Good question. Honestly, I'm not sure: I don&#...

2011-05-10T15:09:27.868-07:00

Good question. Honestly, I'm not sure: I don't know anyone who's ever gone that route.

I agree with your opinion! By the way, I was readi...

2011-05-10T14:20:59.017-07:00

I agree with your opinion! By the way, I was reading a article wrote by Walter Williams.

What do you think about PhD in Finance?

That's a good question. I would look into Geor...

2011-05-10T14:07:52.868-07:00

That's a good question. I would look into George Mason University outside of Washington, DC; their program might be your best bet. Grove City College in Pennsylvania is a great center for Austrian thinking, but they don't offer grad degrees.

And yes, I'd recommend against a PhD in a mainstream econ department. Such programs are mostly about using unnecessarily complex math to disguise the poorly-thought-out theory behind it. And if you like math, then study something like physics or engineering.

I follow these folks. ;) I am applying for PHD i...

2011-05-10T13:58:41.652-07:00

I follow these folks. ;)

I am applying for PHD in Economics in US. Which school would you choose?
I do not want just study mainstream.
Thank You

Thanks so much for your insight! I'll admit I ...

2011-05-07T09:42:48.318-07:00

Thanks so much for your insight! I'll admit I know little about Brazil's politics, but I guess it'll be a strange day indeed when the statist perspective isn't the mainstream one. For an alternate perspective these folks do great work in Brazil.

Excellent review! I am Brazilian. I would like giv...

2011-05-06T20:40:57.330-07:00

Excellent review! I am Brazilian. I would like give some words about the impact of this movie in Brazil. The most people in my country will not read about the economy crises in US and will watch Inside Job. People will believe in everything on this documentary. When I said people I mean executives,media and teachers.
To illustrate, http://globonews.globo.com/Jornalismo/GN/0,,MUL1654780-17665,00.html
Globo is the biggest channel in Brazil!

Oh yeah, I didn't even think about Eric Gordon...

2011-04-04T08:27:10.800-07:00

Oh yeah, I didn't even think about Eric Gordon when I was writing this. Awesome.

@John: Thanks much.

Excellent review. And I did actually laugh out lo...

2011-04-04T08:06:05.166-07:00

Excellent review. And I did actually laugh out loud at the quote.

Funny about your last quote... as I was watching &...

2011-04-03T21:11:24.843-07:00

Funny about your last quote... as I was watching "Inside Job" I couldn't help but think of the Eric Gordon character and his failure at "Business Ethics" !