Inside Job Transcript - Final Version - 9.30.10 - Sony Pictures Classics
Inside Job Transcript - Final Version - 9.30.10 - Sony Pictures Classics
Inside Job Transcript - Final Version - 9.30.10 - Sony Pictures Classics
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Inside</strong> <strong>Job</strong> transcript – <strong>Sony</strong> <strong>Pictures</strong> – September 2010 60<br />
NARRATOR: Since the 1980s, academic economists have been major advocates of<br />
deregulation, and played powerful roles in shaping U.S. government policy. Very few of<br />
these economic experts warned about the crisis. And even after the crisis, many of<br />
them opposed reform.<br />
02:23:16.20<br />
CHARLES MORRIS: The guys who taught these things tended to get paid a lot of<br />
money being consultants. Business school professors don't live on a faculty salary.<br />
They do very, very well.<br />
02:23:32.03<br />
{MARTIN FELDSTEIN<br />
PROFESSOR OF ECONOMICS, HARVARD}<br />
CHARLES FERGUSON: Over the last decade, the financial services industry has made<br />
about 5 billion dollars' worth of political contributions in the United States. Um; that's<br />
kind of a lot of money.<br />
That doesn't bother you?<br />
MARTIN FELDSTEIN: No.<br />
02:23:47.26<br />
NARRATOR: Martin Feldstein is a professor at Harvard, and one of the world's most<br />
prominent economists. As President Reagan's chief economic advisor, he was a major<br />
architect of deregulation. And from 1988 until 2009, he was on the board of directors of<br />
both AIG and AIG Financial Products, which paid him millions of dollars.<br />
02:24:10.05<br />
CHARLES FERGUSON: You have any regrets about having been on AIG's board?<br />
MARTIN FELDSTEIN: I have no comments. No, I have no regrets about being on AIG's<br />
board.<br />
CHARLES FERGUSON: None.<br />
MARTIN FELDSTEIN: That I can s-, absolutely none. Absolutely none.<br />
CHARLES FERGUSON: Okay. Um – you have any regrets about, uh, AIG's decisions?<br />
MARTIN FELDSTEIN: I cannot say anything more about AIG.