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
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<strong>Inside</strong> <strong>Job</strong> transcript – <strong>Sony</strong> <strong>Pictures</strong> – September 2010 8<br />
WOMAN REPORTER: World financial markets are way down today, following dramatic<br />
developments for two Wall Street giants.<br />
WOMAN SPEAKING FOREIGN LANGUAGE: [UI].<br />
MAN SPEAKING FRENCH: [UI].<br />
01:10:45.00<br />
NARRATOR: In September 2008, the bankruptcy of the U.S. investment bank Lehman<br />
Brothers, and the collapse of the world's largest insurance company, AIG, triggered a<br />
global financial crisis.<br />
NEWSCASTER: – fears gripped markets overnight, with Asian stocks slammed by –<br />
NEWSMAN: Stocks fell off a cliff – the largest single point drop in history.<br />
NEWSMAN WITH BRITISH ACCENT: Share prices continued to tumble in the<br />
aftermath of the Lehman collapse.<br />
01:11:10.00<br />
NARRATOR: The result was a global recession, which cost the world tens of trillions of<br />
dollars; rendered 30 million people unemployed; and doubled the national debt of the<br />
United States.<br />
01:11:21.00<br />
{NOURIEL ROUBINI<br />
SENIOR ECONOMIST<br />
COUNCIL OF ECONOMIC ADVISORS (1998-2000)<br />
PROFESSOR, NYU BUSINESS SCHOOL}<br />
NOURIEL ROUBINI: If you look at the cost of it — destruction of equity wealth, of<br />
housing wealth; the destruction of income, of jobs; 50 million people globally could end<br />
up below the poverty line again — this is just a, a hugely, hugely expensive crisis.<br />
01:11:41.00<br />
NARRATOR: This crisis was not an accident. It was caused by an out-of-control<br />
industry. Since the 1980s, the rise of the U.S. financial sector has led to a series of<br />
increasingly severe financial crises. Each crisis has caused more damage, while the<br />
industry has made more and more money.