Happiness Is An Inside Job Essay Example

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The Inside Job

...The film Inside Job offers in-depth evidence of the complex relationship between government and business by showing how business under the auspice of capitalism and government under the mantle of democracy is collusive and incestuous in their ultimate pursuit of profit and power. The film clearly captures the systemic corruption of the United States by greedy and morally unbalanced industry leaders and their cohorts who engineered a financial catastrophe in 2008 not seen since the great depression. The film’s writer and director Charles Ferguson contends that the collapse of the financial industry could have been prevented had there been more regulation of Wall Street. He clearly establishes his line of reasoning through a series of interviews with many of the major players in government and the financial industry who indirectly and in some cases directly contributed to the financial fiasco of 2008. The financial collapse was caused by three main contributing factors; first, a toxic sub-prime mortgage market engineered by the financial industry; second, government’s failure of regulatory enforcement of the financial industry and Wall Street; and third, a collusive relationship between business leaders and government officials elected to curtail the same crisis they helped create. The financial collapse of 2008 resulted from a toxic sub-prime mortgage market engineered by an out-of-control industry that led to its inevitable implosion. In September 2008, the global financial...

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Inside Job

...t interests me when questionable but long-unquestioned business practices attract fresh scrutiny and then, surprisingly quickly, transition from being ignored or tolerated to being generally denounced. I suspect this type of attitude shift is happening now in the context of conflicts of interest confronting academic economists. Such conflicts can arise when, for instance, a distinguished economist testifies before Congress, is interviewed in the press, or otherwise weighs in on policy debates without disclosing that, in addition to his academic affiliation, he also has financial/professional ties that may color (or appear to color) his objectivity. Several recent developments have drawn attention to the issue. First, there’s Inside Job, a documentary film that explores the causes of the financial crisis and deals harshly with high-profile academic economists who had undisclosed financial ties. For example, the film includes a painful-to-watch interview (available online) in which Frederic Mishkin, a professor at Columbia University’s Graduate School of Business and a former Federal Reserve Governor, reluctantly admits that Iceland’s Chamber of Commerce paid him $124,000 to write a paper endorsing the country’s stable business environment, a fact not disclosed in the paper. Next, there’s Financial Economists, Financial Interests and Dark Corners of the Meltdown: It’s Time to Set Ethical Standards for the Economics Profession (available online), a research paper...

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Inside Job

...NAME : JAWAD KARIMI ID NUMBER :05048569 INSIDE JOB: Inside Job is a 2010 documentary film about the late 2000’s financial crisis . The film is in five parts the film explores how changes in the policy environment and banking practices helped create the financial crisis. The movie starts with showing the Iceland bank where it all started from the land scape is shown green and fresh but then as the corporations moves into the country it becomes muddy and dry land with pollution. In a context of global economic crisis, everyone appears to be blaming the other in order to find who is responsible for such a global decline in growth, important rate of unemployment, rising protectionism... Thus, it seems relevant to wonder about the key stages of what has been called “The Great Recession” which began approximately on 15th September 2008 with a huge “domino effect” that was born right after the US government allowed the investment bank Lehman Brothers to go bankrupt. Indeed, the American firm implanted in London did not follow UK law, which caused its loss and is one of the numerous convincing facts showing that economic issues are directly linked to business law. After that, people started looking for elements that should have alarmed them. The example of the Greenbury Report (published in 1995) was destabilizing since it showed that corporate governances were already concerned about excessive executive remuneration because of previous cases...

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Inside Job

...ide JobInside Job (Sony Pictures Classics). Produced, written and directed by Charles Ferguson. Review by Marsha Feinland Inside Job provides a comprehensible lesson on the current economic crisis and an entertaining expose of the slimy players behind it. The movie starts in Iceland. A formerly prosperous population suddenly lost its wealth, income and job base when the economy collapsed. The government had privatized the banks and deregulated industry, allowing speculators to finance risky operations with questionable loans. The example is jarring, but we never find out how or why a seemingly rational people allowed the government and some nefarious entrepreneurs to destroy their lives. The movie provides more historical background for the crisis in this country. The premise is that it all began in the 1980's with deregulation of the banks under Ronald Reagan's presidency. The disastrous result was the Savings and Loan debacle and subsequent bailout. The banks stepped up their debauchery under the Clinton administration. Clinton put Robert Rubin and Lawrence Summers in charge of the economy, letting the business school-investment banking cabal call the shots. And shoot they did. By now most of us know that under Clinton, congress passed the Graham-Leach-Bliley Act which repealed Glass–Steagall. That legislation had maintained a firewall between banks and insurance companies. What is interesting is that it was repealed after Citigroup, a bank, had already acquired......

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Inside Job

...were showered with incentives to give loans to anyone for exorbitant interest rates, and since nobody cared if the loans were repaid, the commission alone was all that mattered. The massive amount of liquidity in the system and the hunger for mortgages resulted them to repackaged the loans into collateralized debt obligations (CDOs), with numerous of them backed by subprime mortgages, then sold to investors. Besides, the ratings agencies such as Standard & Poors were paid to give them all AAA ratings, which caused many buyers to believe in what they were buying. However, long after the damage is done, the rating agencies acted too late to downgrade these papers. People cautioned that this would lead to catastrophe, but those that warned inside of the government were pushed aside by former Fed chairman Alan Greenspan, Ben Bernanke and Treasury Secretary Hank Paulson, plus academic economists who sold their opinions to corporate bidders, making them enablers of the disaster. I strongly agree to this movie director's closing admonition that strong financial industry regulation needs to be reinstated, executive compensation needs to be limited and consumers have to get protected by the government. The government should empowered to rate bonds, especially if it requires certain kinds of fund managers to possess only officially rated bonds. The respective regulatory units should have started new rules and policies to oversee CDOs, CDS, leverage aspect of financial firms and......

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Inside Job

...Project Report Subject: Islamic Banking & Finance Submitted to: Sir Hamad Rasool Bhullar Submitted by: Maria Saleem (l1s10bsaa2009) Imran Arif (l1s10bsaa2031) Zeeshan Ahmed (l1s10bsaa0033) Gohar Nouroze (l1s10bsaa2018) Hassan Sarib (l1s10bsaa0011) Umair Khan (l1s10bsaa2006)   Inside Job Inside Job is a 2010 documentary film about the late 2000s economic catastrophe Charles H. Ferguson. In five parts, the film delves into how changes in the policy environment and banking practices helped generate the financial crisis. Background of Iceland: Iceland had a stable environment and it was a complete structure of a modern economic society. Its population was 320,000 with a GDP of $13 billion. Gylfi Zoega Professor of Economics at the University of Iceland said that, “A fine location for families to live happily.” In 2000, Iceland’s government began a policy of deregulation. This set up the basis for the banks to upload debts when the foreign companies were accumulated. As the crisis unfolded itself the banks became unable to refinance their debts. The financial crisis of Iceland was the largest suffered by any country in the economic history. It was a political crisis collapse of all the three major privately owned commercial banks, with their difficulties in the refinancing their short term debt and run on deposits. In September 2008, Glitnir bank would be nationalized followed by the Landsbanki. Two days later another bank, Kaupthing was also......

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Happiness Is an Inside Job

...2301 November 7th 2013 Book Report Happiness is an inside job by John Powell “Why am I afraid to tell you who I am? I am afraid to tell you who I am, because if I tell you who I am, you may not life who I am, and it’s all that I have...” (John Powell). This author influences many teenagers in his books that there is a common sense to approach happiness. Many people claim happiness comes to anyone, but Powell gets to inform the reader in many of his books that everyone is within the reach of it, if they just reach inward and not outwards. In his books, you see that Powell offers insights of awareness and other interpersonal communication. He tries to discuss the human condition that each person develops in their life, and show how people deal with their emotions as growing up as a better person. Convincing the readers that it takes courage to reveal themselves to others and time. Powell brings out his interpersonal self and his life throughout his books, being a painter at a young age and that being melded in his life, it shows how he expressed his love and other interesting things that made him who he is today. The authors thesis of” Happiness is an inside job” shows that anyone can be in reach of happiness without even trying, but if they just try not to move in the wrong direction which is always trying to move inwards and not outwards will help them become a better person. Other things, like pursuit of happiness come as a long as you’re living. Powell......

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Inside Job

...Felicia Feliciano English 101 Ms. Lonon Argumentative 3/12/13 9/11 was an inside job. September 11. 2001 was a tragic day for all American people, the unimaginable just happen, and too many lives were lost. It is a day that will never be forgotten. After the ciaos very slightly began to settle, the American people need answers, answers that still till this day have never been answered. Four hundred and forty two days have the attacks finally there was some sort of “answers” through the 9/11 commission report. The way the described the day is question still left a lot of people confused, with confusing comes the search for real answers and from the tat the question raised, who was really responsible on our nation. From this question stems the ultimate argument, can it really be possible that our own government can be involved. I struggles with this question constantly, it bothered, and I knew I had to do my own research. With y search for the truth, I have to admit, I believe in some way our government either knew, or had a helping hand in the destruction. I argue these points whenever the subject comes up and many just really can’t believe our government would ever to conspire against us. I don’t know if these people are scared to know the truth or they are just too ignorant to see the evidence and fact supporting my dispute. Instead of using any critical thinking skills they just believe anything the government feds......

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Inside Job

...Inside Job This great documentary told of how the United States affected the economy on a global scale, sending the financial world into a downward, spiral of which we are still feeling the after affects. This financial fiasco devastated the entire world because of the actions of a few greedy, able to get legislation passed allowing lenders to careless, selfish, ravenous, uncaring millionaires. The Reason Inside Job is a documentary about the 2008 financial crisis in the United States and abroad. It depicts how there are major conflicts of interests between the areas of politics, universities, and investment banks. In the U. S. the financial crisis started with the bankruptcy of the Lehman Brothers and AIG, one of the largest insurance firms in the U.S. The failure of these two companies in the U. S. affected other countries, in that, because these two companies had offices all over the world their bankruptcies in the U.S. meant they had to close down their offices everywhere. To add injury to insult, lobbyist were able to get legislation passed allowing lenders to sell mortgages to investment banks. These banks combined mortgage loans, with thousands of other loans which created complex derivatives. From this, now, when homeowners pay their mortgages, the money goes to an investor. It was also revealed that investment banks pay rating agencies to give AAA ratings to CDO’s. The financial system was a ticking time bomb, it was just a matter of time before it......

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Inside Job

...banks in what "Inside Job" calls "one of the purest experiments in financial deregulation ever conducted". The result was disastrous. The banks revelled in excess and unchecked greed. They developed an enormous appetite for risk and went on a borrowing spree the likes of which had never been seen in Iceland before. In a few short years Iceland's banking sector collapsed. "Finance took over, and more or less wrecked the place," Icelandic economist Gylfi Zoega says on film. "In a five-year period, these three tiny banks, which had never operated outside of Iceland, borrowed $120 billion, 10 times the size of Iceland's economy. The bankers showered money on themselves, each other and their friends. There was a massive bubble. Stock prices went up by a factor of nine; house prices more than doubled. The banks set up money market funds. And the banks advised deposit holders to withdraw money, and put it in the money market funds. The Ponzi scheme needed everything it could, huh?" This collapse could have proved an early warning signal for the US, but policy makers like Greenspan were as blind to Iceland as they were to America's institutional memory. The Great Depression that lasted four cruel years, ended in 1933, and only really beaten by the advent on World War II, appeared to leave no lasting lessons. The tragedy brought home by watching "Inside Job" is the realisation that the global financial meltdown that saw millions of ordinary consumers lose their homes, jobs and......

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Inside Job

...THE INSIDE JOB The documentary is split into five parts. It begins by examining how Iceland was highly deregulated in 2000 and the privatization of its banks. When Lehman Brothers went bankrupt and AIG collapsed, Iceland and the rest of the world went into a global recession. Part I: How We Got Here The American financial industry was regulated from 1940 to 1980, followed by a long period of deregulation. At the end of the 1980s, a savings and loan crisis cost taxpayers about $124 billion. In the late 1990s, the financial sector had consolidated into a few giant firms. In March 2000, the Internet Stock Bubble burst because investment banks promoted Internet companies that they knew would fail, resulting in $5 trillion in investor losses. In the 1990s, derivatives became popular in the industry and added instability. Efforts to regulate derivatives were thwarted by the Commodity Futures Modernization Act of 2000, backed by several key officials. In the 2000s, the industry was dominated by five investment banks (Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch, and Bear Stearns), two financial conglomerates (Citigroup, JPMorgan Chase), three securitized insurance companies (AIG,MBIA, AMBAC) and the three rating agencies (Moody’s, Standard & Poors, Fitch). Investment banks bundled mortgages with other loans and debts into collateralized debt obligations (CDOs), which they sold to investors. Rating agencies gave many CDOs AAA ratings. Subprime loans led to......

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Inside Job

...After watching the Inside Job video, the term Global Economic Crisis of 2008 or Global financial Crisis that I understood is where a period of time, there was a great depression on workers, consumers, producers and the peoples due to major losses that happened globally between investment banks, insurance company, Audit firms, financial services firms and other multinational corporations. What are the causes that these entire gigantic firms led to major losses? This economic crisis had cost ten millions of people lost their savings, their jobs and their homes. The first part of the video was about Iceland country. Iceland is such a beautiful country with fresh air, foods, efficient operations of geothermal and hydroelectric and where the economic was stable in marketing before the crisis happen. Iceland is one of the high standard living countries. In 2008, the population is very high about 320,000 and the GDP of the country was $13billion, the bank had major losses about 100billions. During the year of 2008, Iceland banks collapses due to borrowers unable to settle their debts from lenders. Unemployment triples in 6 months. The three banks in Iceland which are Iceland’s banking, Kaupping and GLINTR had borrowed money which is three times the economics of Iceland. Government had financial deregulation. The government could not able to protect the citizen during this crisis. Collapses of major bank in US and Iceland are main causes to this crisis The major Investment banks......

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Inside Job

...INSIDE JOB—A documentary Business, Ethics and Governance 18 September 2011 Submitted by: Suzanne M. Chevalier Inside Job is a documentary written and directed by Charles Ferguson, and narrated by Matt Damon. The film chronicles the economic collapse of 2008 and the events which led up to it. The film is divided into five parts; 1) How We Got Here, 2) The Bubble, 3) The Crisis, 4) Accountability, and 5) Where We Are Now. The parts of the film come together to uncover the corruption of government, regulatory bodies, financial institutions and academia, which resulted in the biggest financial meltdown in the U.S. since the Depression and the first global recession in history. This paper will examine the film’s parts and analyze the moral, ethical, and regulatory lapses that were years in the making. Part 1: How We Got Here Until 1980, the financial industry was relatively stable. Investment banks had primarily been small private groups of individuals who invested their own money on riskier investments and as a result closely monitored their investments. In the 1980’s, investment banks went public, which meant they had access to the public’s money to invest in these riskier ventures—since it wasn’t their own money, there was not the same close monitoring. Deregulation allowed for the comingling of government, investment bankers, and lobbyists. In 1981 the CEO of Merrill Lynch was appointed Treasury Secretary by Ronald Regan. Deregulation allowed the......

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Inside Job

...Inside Job The American financial industry was regulated from 1940 to 1980, followed by a long period of deregulation. At the end of the 1980s, a savings and loan crisis cost taxpayers about $124 billion. In the late 1990s, the financial sector had consolidated into a few giant firms. In March 2000, the Internet Stock Bubble burst because investment banks promoted Internet companies that they knew would fail, resulting in $5 trillion in investor losses. In the 1990s, derivatives became popular in the industry and added instability. Efforts to regulate derivatives were thwarted by the Commodity Futures Modernization Act of 2000, backed by several key officials. In the 2000s, the industry was dominated by five investment banks (Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch, and Bear Stearns), two financial conglomerates (Citigroup, JPMorgan Chase), three securitized insurance companies (AIG, MBIA, AMBAC) and the three rating agencies (Moody’s, Standard & Poor's, Fitch). Investment banks bundled mortgages with other loans and debts into collateralized debt obligations (CDOs), which they sold to investors. Rating agencies gave many CDOs AAA ratings. Subprime loans led to predatory lending. Many home owners were given loans they could never repay. During the housing boom, the ratio of money borrowed by an investment bank versus the bank's own assets reached unprecedented levels. The credit default swap (CDS), was akin to an insurance policy. Speculators could buy...

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Inside Job

...Introduction: Inside job is a movie produced and written by Charles Ferguson mostly recognized as the founder and president Representational pictures, Inc. In this film he has produced he is able to make people understand how the most outstanding leaders of finance and the government itself have contributed to the financial crisis of the world with a clear view of how it began emerging up till today’s financial world. However, with the help of Matt Damon narrating the story through the documental it is possible to see the reaction of some of the major head finance representatives of the United States whom still today continue contributing to the collapse of the global markets. Nevertheless, the documentary in five enriching parts, blackmails the procedures, interferences, and, provisions that crashed the markets in the USA causing a major impact in global potencies such as Iceland. Inside Job opens up with a tremendous case study of Iceland unfolding how the market crash has caused three of its major banks to collapse. Iceland used to be a stable nation with low levels of criminality, a wise and strong educational system, and powerful in both stability and its financial systems. However, the global crisis of 2008 cost 10 million people to loose their jobs, savings and even their homes. Basically what was causing it wasn’t only its financial crisis but also overpopulation of over 320,000, a GDP of 13 billion and bank losses of 10 billion. In this way comes Alcoa into......

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We have all been brought up to believe that different external things are responsible for our happiness. I was raised to believe that happiness was related to people, events and outcomes. In other words, my happiness had to come from being in a relationship, from having good things happen, and from having control over the good things happening. My parents were not into things like houses, cars or toys, so I never learned to connect my happiness with things. But lots of people do.

For example, Allen connects his happiness to people, things and outcomes. As a result, he is constantly pulling on others for attention and approval. He is addicted to buying things and his garage is cluttered with his toys. And he can't be happy until he "finds the perfect job" and "makes more money." Because he connects his happiness to all these externals, he is always trying to have control over getting what he wants. Trying to have control keeps him from being in the moment, which is where real happiness exists.

Our ego wounded self is often very attached to a "project," such as:

  • Once I have a partner, (or a different partner) then I will be happy.
  • Once I have enough money, then I will be happy.
  • Once I have the house (or car, or motorcycle, or swimming pool, etc.), then I will be happy.
  • Once I have a baby, then I will be happy.
  • Once I lose weight, then I will be happy.
  • Once I have the right job, then I will be happy.
  • Once I move out of this city, then I will be happy.
  • Once I have plastic surgery, then I will be happy.

As long as you believe that your happiness is connected to something external, you will not be happy now. And there will always be something else -- a different partner, more money, a different place to live or a different job -- that will keep you from being happy now.

You may discover that you are resistant to being happy now. This may be because your ego wounded self is unconsciously saying, "Having control over getting what I believe will make me happy is what's important. I refuse to be happy until I have what I want!"

Yet I've worked with hundreds of people who have it all -- the relationship, the baby, the things, the money, being thin -- and still do not feel happy.

What Really Creates Happiness?

The feeling of happiness is the result of being present with ourselves, with Spirit, with others and with nature. Happiness is the result of being loving and compassionate with ourselves -- taking loving care of our own feelings and needs in the moment. Happiness is the result of sharing love with others -- with people and with animals. Happiness is the result of being in the moment and experiencing the beauty of a flower, a tree, the clouds or a sunset. Happiness is being in gratitude for what you are and the sacred privilege of evolving your soul in love, rather than focusing on what you don't have.

As long as you believe that your happiness comes from outside you, happiness will likely elude you. Every moment that you look to people, things, events and outcomes to make you happy is a moment of life lost. Every moment spent trying to control someone or something in the hopes of getting what you believe will make you happy is a moment of happiness and joy lost. Every moment spent projecting into the future with the thoughts of, "When I have _____, then I will be happy," is a present moment not experienced.

Happiness is not something that happens to you. It is something you choose or don't choose each and every moment. Today, choose to be aware of what you are attaching your happiness to, and consciously limit the thoughts about what you believe you need externally to be happy. Choose to move into love and compassion for yourself and others and gratitude for what you are and discover your happiness in this present moment.

Join Dr. Margaret Paul for her 30-Day at-home Course: "Love Yourself: An Inner Bonding Experience to Heal Anxiety, Depression, Shame, Addictions and Relationships."

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