Accepted Public Narrative

Section Two: 1. The documentary, “Inside Job” provides an interpretation of the causes and consequences of the 2008 global financial crisis. Is this interpretation compelling? Be sure to include institutional, ideological and interest factors in your analysis. The movie, the

The outbreak and spread of the financial crisis of 2007-2008 have caused the most of countries into severe economic difficulties and also created an adverse impact on the global economy. The beginning of the financial crisis is defaults in the subprime mortgage market in the USA. Although the global economy seems to recover since 2009, the impacts of the crisis still affect many countries until now. This essay focuses on the background and impacts of financial crisis, and the learning from the movie The Big Short.

This essay explores the popularity of Australian film, both locally and internationally and asks the question: Is there a crisis in the Australian Film Industry? This essay will go through the current issues the Australian Film Industry and will demonstrate examples of those problems.

Hollywood cinema also produces its own realities on the big screen. As Cecil B. De Mille. Goldfish and Samuel Goldfish claimed during the production of the first motion picture, “when real life doesn’t fit a preconceived image, create another reality” (xi). Since that 1913 statement, Hollywood has fostered this type of reality-making that results into an escape for its audiences. Aside from the physical escape of traveling to the movies or Blockbuster in order to view these films, audiences are also invested in the characters they view on screen. However, Webb informs the public that “what appears on the screen is a stylized version of real life (or a plausible vision of imaginary worlds) that is made possible by the prolonged collaborative effort of hundreds, working in support of a celebrated few” (3). The “reality” of the cinema lies in producers, directors, actors, back-lots, etc. involved in its creation rather

A Colossal Failure of Common Sense was one of many books to be published in the aftermath of the Financial Crisis of 2007. After seeing the global economy stall in the face of massive losses in word financial markets, many Americans sought to better understand the crisis and its causes. This book, written from the perspective of a financial market insider, provides a glimpse into the world of global finance and also seeks to explain how the players in this world were involved in the crisis. In the words of the author Lawrence McDonald, “My objective in writing A Colossal Failure of Common Sense was twofold. First, to provide … a close-up, inside view of how markets really work…..And, second, to give… as crystal clear an explanation as possible about the real reasons why the legendary Lehman Brothers met with such a swift end”1. By writing about his personal experience at Lehman Brothers and recounting stories from within the famous investment banking firm, Mr. McDonald largely succeeds at his first goal. However, the elements of personal biography and the chronological order of the book make it difficult for the reader to fully appreciate all of the varied causes of the financial crash. I believe that the main value of reading this book is in understanding these causes, with Lehman Brothers acting as a microcosm of the greater financial universe. As such, in this review I have isolated elements from Mr. McDonald’s book which highlight how the crisis

“I’m going to make a name for myself. If I fail, you will never hear of me again” Edward James Muggeridge. True to his words he succeeded in making a name for himself and he created the first movie or “motion picture”. Movies are a rollercoaster ride that transcends people into a whole different world fresh out of somebody’s imagination as seen through the genres of horror, drama, and science fiction. The movie business allows people to break through the burden of everyday life. Considering today’s way of life, people would be lying if they did not admit that movies are an influential entity in our culture. Movies have been successful in ingraining values and elements into society. Movies exaggerate, sensationalize and at

The Big Short is based on a real life story that is about the 2008 financial crisis which was a result of housing bubble. Sadly, unethical choices made by bankers, financial institutions and rating agencies led to a crisis that hurt the World economy badly. The main ethical business dilemma is that many people were aware of the potential risks; however, they preferred to avoid the truth, and play stupid. There are many dilemmas throughout the movie that support this finding.

From the CEOs, the Government, prostitutes, and even Ivy League professors, the movie blamed anyone who had even the slightest role in the financial meltdown. In a more non-fiction type setting, the documentary aimed to exposed the corruption on Wall Street and how the government got involved. The documentary seemed to put blame on the greedy 1% of America. According to the film, people in power stay in power and simply rotate their position in power to other like individuals. So top Wall Street executives rotate to leading government positions and thus continue the cycle of greed and destruction. They generalized everyone on Wall Street to be greedy crooks who use drugs and spend corporate

The producers will develop a test and the audience will tell the producers whether it is something they want to see or they are not going to see. This can affect the next text to be produced in an attempt to conform to the audience demands. Looking at the development of different types of genres and the development of films within the same genre, it’s possible to look at similarities and differences and identify changes in society and audience ideologies and tastes.

The film industry has always been somewhat of a dichotomy. Grounded firmly in both the worlds of art and business the balance of artistic expression and commercialization has been an issue throughout the history of filmmaking. The distinction of these two differing goals and the fact that neither has truly won out over the other in the span of the industry's existence, demonstrates a lot of information about the nature of capitalism.

For the most part, the film in an entertaining way, does a good job explaining how those transactions, along with greed, stupidity and arrogance played a role in causing the crisis. Some analysts like economist Jeffrey Tucker in his Newsweek article “Did ‘the Big Short’ get it right” argue that the film did not include the Federal Reserve’s responsibility in creating the mess and others say it avoided the criminal aspect. The film cleverly uses Jenga blocks, old fish ready for the trash in a stew, and secondary bets on a seemingly sure bet poker hand held by Selena Gomez, to help explain what transpired. In the case of the poker hand people were making leveraged bets on known odds, they knew the risk of losing.

critique of the movie, I will discuss the nature of the crisis. I will suggest steps to alleviate the crisis,

The Big Short: Inside the Doomsday Machine by Michael Lewis is a non-fiction New York Times #1 bestseller. This text is published by W.W. Norton & Company and contains 320 pages. This is a book that focuses in on the 2008 financial crisis and the build up of the housing and credit bubble during the 2000’s. The author channels in on the persons who saw the crisis coming that wanted to protect their investments or did not want to speak of the issue.

According to film theorist Thomas Schatz, “a genre approach (to film) provides the most effective means for understanding, analyzing, and appreciating the Hollywood cinema (Schatz vii).” His approach to film is strongly supported by theorist Edward Branigan’s and the narrative representation of character interaction (Branigan), and André Bazin’s arguments that the objective reality pressed against audience interpretation.

According to the work examined in this study the global recession that occurred in 2008 and 2009 was partially a result of the financial industry's failure to be responsible for the decision it made in using financial instruments that were risk and very complex in nature. The culture of corporations were constructed on risk-based rewards instead of rewards that resulted in value for stakeholders. The financial risks that banks took on were not well comprehended by the public or regulators and the mass media also failed to understand the risks that the banks had entered into with certain financial agreements.