Review of Movie 'Inside Job' Example | Topics and Well Written Essays - 750 words

Of 'Inside Job' - Movie Review Example Loan companies and banks became more free to gamble with the money of the depositors, borrow much more money and to offer the investors highly complex financial structures. They offered financial instruments which had streams of income from different bundled up debts this included the high interest home loans that the high risk borrowers were offered. Theses sub-prime markets offered abnormally high returns. A legal analysis of the film documents the fraud perpetrated by investment banks and their role in causing the 2008 global financial meltdown (Ferguson). Fraud refers to a false representation of a factual matter whether by conduct or words, by misleading or false allegations or by hiding of what should have been revealed. Fraud is prevalent in the buying or selling of intangible property such as stocks, copyrights, and bonds. Fraud is proved though five stages; a falsified statement of a material fact. Secondly, the knowledge on the defendants part that the statement is untrue. Third, intent on the defendant’s part to deceive the victim. Fourth, the victim’s justifiable reliance on the falsified statement and the final stage is injury to the victim. The film ‘inside job’ reveals instances of Fraud as discussed in the paragraph below. The film ‘inside job’ reveals that Goldman Sachs, an investment company, was guilty of fraud. The company recommended their customers to go for the Timberwolf mortgages claiming that they were backed with securities. They highly recommended the customers to take the deal yet they aware of the loopholes. They secretly discussed that Timberwolf was a lame deal but this was after they sold the securities to them. When selling the securities they lied about the expected performances and the securities and failed to disclose and provide accurate and timely information about the real value of the said securities. The company was betting against