Business Law Issues Concerning Inside Job Film - Essay Example

The 2008 monetary crisis was disastrous since it compelled millions of employees out of their jobs and homes, which was estimated to more than $20 trillion. It had a profound impact that it has been widely analyzed in academia. The widely applauded 2010 documentary Inside Job was directed and produced by the famous filmmaker Charles Ferguson. The film examines events leading up to, during, and after the 2008 monetary crisis. The focus of this analysis will aim at highlighting the intricate ethical issues associated with the financial services industry.

This film received numerous critiques from various quarters such as the public and film critics. Analyzing this movie from an ethical perspective, it is clear that most of the crises were because of unacknowledged conflict of interest, arrogance, greed, lack of transparency and accountability, failed leadership and unethical conducts. These factors are some of the issues that fueled the industry to become out of control. According to Inside Job, Ferguson clearly indicates the manner in which these practices caused the 2008 economic meltdown.

While obviously everyone knows the conclusion of the unfolding occasions Ferguson depicts, his meetings with a number of the players in the emergency give extra knowledge into the bigger inquiry on the manner in which such a variety of brilliant individuals were included in a disappointment, so colossal failure that led to the economic crisis. The film demonstrates the results when supposed capital is wrapped around the unyielding quest for dogma, for this situation deregulation, with the goal that clashing information or restricting perspectives are not permitted to impede.

The many people from Ivy League commercial concerns divisions wielded a ton of force in the 30-year impetus for deregulation. They served as advisors to the business and were chosen for significant administrative or White House consultant positions. Ferguson brings up issues about the objectivity of those who were entitled to research, and in addition whether their trustworthiness was bargained by the issues of investment and tolerating expenses from Wall Street. For example, Scott Talbott, a boss lobbyist for the Financial Services Roundtable, which campaigns for the main 100 banks, and Mastercard, fortification and monetary administrations, includes a huge number of the rescued banks.

As noted in Ferguson’s inquiries, it clearly demonstrates there was satisfaction with the impressive impact his group wielded in Congress since that is the manner of how things work (Griseri and Nina, 321). The morals approach of the Roundtable, which most of the member were asked to sign, shows that these individuals were required to set the most elevated moral guidelines for the business (Griseri and Nina, 329).