'Inside Job' Wins Oscar, But Will Financial Reform Be Gutted?

Congressional Attacks on Funding Could Cripple Protections for Consumers, Economy.

The documentary Inside Job was released by Sony Pictures.

(WASHINGTON D.C.) - Tonight’s Best Documentary win for “Inside Job” serves as a reminder of the critical importance of financial reform even as implementation of reform is under attack by congressional Republicans seeking to cut off funding, policy experts at The Greenlining Institute said tonight.

Greenlining co-founder Robert Gnaizda is prominently featured in the documentary as one of the few whistle-blowers who saw the subprime meltdown coming and tried to sound a warning.

“The film shows how deregulation produced a massive housing bubble built on speculation, inflated appraisals, bogus bond ratings and outright fraud, and it ought to be required viewing for members of Congress,” said Chris Vaeth, The Greenlining Institute’s Washington, D.C.-based legislative director.

“It’s ironic that even as ‘Inside Job’ is being honored, some in Congress are working to squelch the very regulations that could stop the next meltdown by blocking the funding needed to implement them.”

On Feb. 18, Politico reported that the agencies charged with implementing financial reform “are starving for money,” with Republicans in Congress intent on keeping it that way as a tactic to stall implementation.

This could impact not only the newly-created Consumer Financial Protection Bureau, but also other agencies like the Securities and Exchange Commission that have new responsibilities under the Dodd-Frank financial regulatory reform law passed last year.

Background- Press release for 'Inside Job'

(CULVER CITY) Audiences will get a chilling look into what is considered the country’s worst economic downturn since the Great Depression when Inside Job comes to Blu-ray Disc and DVD on March 8, 2011 from Sony Pictures Home Entertainment.

Directed by Charles Ferguson (Oscar® Nominee for Best Documentary, No End in Sight, 2007), Inside Job chronicles the events that led to the $20 trillion global financial crisis. Through interviews with key financial insiders, politicians and journalists including Congressman Barney Frank, former New York governor Eliot Spitzer, Financial Times associate editor and chief economics commentator Martin Wolf and former Chairman of the Federal Reserve Paul Volcker, the insightful film reveals that the 2008 economic downturn was a result of the disastrous collision of the unchecked investment banking bubble, rampant deregulation and corrupt economists. Nominated for a 2011 Producers Guild Award for Outstanding Producer of Documentary and Writers Guild Award for Best Documentary Screenplay, the critically acclaimed documentary was an Official Selection at the 2010 Cannes Film Festival and Toronto International Film Festival.

Inside Job will be available for the SRP of $34.95 (Blu-ray) and $28.95 (DVD). Special features include deleted scenes, commentary with director Charles Ferguson and producer Audrey Marrs and a making of featurette. Exclusive to the Blu-ray are more than 60 minutes of additional deleted scenes. Audiences can also extend the educational experience of the film through an online study guide at www.insidejobstudyguide.com created by Professor of Law and Finance Frank Partnoy.

Inside Job Synopsis:

From Academy Award® nominated filmmaker, Charles Ferguson (No End In Sight), comes Inside Job, the first film to expose the shocking truth behind the economic crisis of 2008. The global financial meltdown, at a cost of over $20 trillion, resulted in millions of people losing their homes and jobs.

Through extensive research and interviews with major financial insiders, politicians and journalists, Inside Job traces the rise of a rogue industry and unveils the corrosive relationships which have corrupted politics, regulation and academia. Inside Job was made on location in the United States, Iceland, England, France, Singapore and China.

BD/DVD Special Features Include:

• Deleted Scenes featuring Eliot Spitzer, Lee Hsien Loong, Satyajit Das and other financial insiders
• Commentary with director Charles Ferguson and producer Audrey Marrs
• The Making of Inside Job Featurette

BD Exclusives:

• More than 60 minutes of additional Deleted Scenes

Inside Job has a run time of 120 minutes and is rated PG-13 for some drug and sex-related material.