“Why should a financial engineer be paid four times to a hundred times as much as a real engineer? A real engineer builds bridges. A financial engineer builds dreams. And when those dreams turn out to be nightmares, other people pay for it.” — Andrew Sheng, chief adviser, China Banking Regulatory Commission, in Inside Job.
I am continuing with my documentary obsession. Highly highly recommend this one (it’s not on Netflix streaming… yet). It won an Oscar for best documentary last week and Bobby has been bugging me to watch it.
Some little known facts about me that relate to this movie:
- I interned the summer before my senior year of college at a high profile investment bank on the mortgage backed securities trading desk. I worked 6:15am to 7pm, 5 days a week. Traders did not have to work weekends.
- I got a job offer from said bank, and accepted it, but reneged on the offer because Bobby didn’t want to live in New York. Ha! Now we are here anyway. (After college we lived in CA for 1.5 years before coming back east.)
- Up until I was about 21 I thought I was going to be an investment banker.
- Now I realize that Wall Street only perpetuates the already drastic socioeconomic gap between the rich and the poor. And even though working at the bank would have made me rich, I wouldn’t have been happy and I probably would have burned out anyway.
Inside Job investigates the circumstances behind the financial crisis of the past few years. It focuses on how deregulation essentially screwed the financial system in our country. Increasingly complex financial products, decreased rules and requirements, and greed all contributed to the meltdown. I especially enjoy the fact that this film displays Larry Summers as the pompous, sexist, pig-head that he is. If you don’t remember, Larry Summers was the Harvard president who was forced to resign for a number of reasons, one being that he thinks women are intellectually inferior to men.
Edited to add: You can rent Inside Job at your local video store, or put it in your DVD queue in Netflix. I haven’t been able to find it streaming online.
What? This is a yoga and food blog?
Okay. I did Yoga For Runners #1 this morning and it was fabulous: challenging, strengthening, stretching, and relaxing. Some highlights:
- Half moon
- Twisting triangle
- Standing splits
Last night before bed I did Lunar Flow #1 which was incredibly gentle and peaceful. Some highlights:
- Forward bends
- Half pigeon
And now I am off to read, or sleep, or yoga, or something!