Summers: “Inside Job had essentially all its facts wrong”

It’s weird that Summers, who loves debate, generally refuses to sit down in some public forum and answer serious, informed questions about the legacy of his tenure at Treasury; it might well be that this single interview is the closest we’ll ever get. And on the basis of this interview, it’s clear that, far from apologizing for his actions, Summers is going Full Bluster, denying any culpability, and choosing instead to violently reject and belittle any suggestion that he holds any responsibility for the crisis at all.

Read it at Reuters
Summers: “Inside Job had essentially all its facts wrong”
By Felix Salmon
(h/t Kevin Fathi via email)

View "Inside Job" Online Free

The Internet Archive makes Charles Ferguson's award-winning documentary available for viewing here.

'Inside Job' provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. Through exhaustive research and extensive interviews with key financial insiders, politicians, journalists, and academics, the film traces the rise of a rogue industry which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China.

It is also available at Open Culture here.

This video documenting the rise and fall of Ponzi finance is of particular interest, because Ponzi finance and the conditions that lead to it are central to Hyman Minsky's financial instability hypothesis, which lies at the core of MMT's analysis of credit.

Here is Charlie Rose's interview with Charles Ferguson. (h/t Zero Hedge)