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The screening of Inside Job in Durham, UK hosted by Tipping Points was a success for a number of reasons. First, it should be stated that this film has had a fairly limited world release, so having it in a small town like Durham in an 84-seat capacity cinema, it’s no surprise that it generated such a large interest within the Durham community and the North East. Living during the end/aftermath of a financial crisis has been difficult for some, but extremely difficult for many (mostly poor) people living in the world today. What the film Inside Job reveals is that many of the people who governments and the public depend on to regulate financial services, banking, capital etc. are the very ones that turned their backs on everyone, not to mention themselves.
Since the film delivers an articulate portrayal of the events before and after the banking crisis of 2008, it gives much to talk about. Could regulation in the US, for example, have prevented the banking crisis from taking place? Was it merely the result of poor legislation or in some cases no legislation at all for governing banks in the US? Producers of Inside Job argue clearly and concisely that regulation of banks in the US has been declining at least since the Reagan administration. Another important point made by the film is the issue of criminality. No one went to prison for causing the financial crisis. Those involved in creating and then ‘riding’ the debt bubble in the US till it burst were never incriminated for their acts, although there is some rather comical footage of many well-known bankers on Wall Street being interrogated by members of US congress. The rhetorical strengths of the film help turn the US financial system inside-out.
