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¶ … Job
An Assessment of Inside Job
The many excellent insights provided in the film Inside Job illustrate how tightly integrated the global financial systems are, and how the deliberate packaging of low-quality debt and securities led to the financial crisis of 2009. The most powerful moments of the firm are when it becomes clear that only two or three banks' stability stand between the solvency of the Untied States itself. If a few more banks would have failed, the country would have been plunged into financial chaos. These powerful points made are carefully constructed by showing how a lack of leadership and accountability led to the financial institutions believing they were entitled to continually higher profits and personal wealth at the expense of the individual investor. Further, there was no forethought of how these deliberately fraudulent transactions could be restructured to stabilize the economy. While watching the documentary it is clear the most powerful financial leaders of these companies abdicated responsibility for the outcomes of their decisions, clearly not even considering restructuring as a required outcome of their decisions.
Analysis of Inside Job
The paradox of leadership is very evident in the film, with the CEOs of the country's largest financial firms leading by example that greed isn't just condoned, it's encouraged by the excessive salaries,...
The leaders are summoned before the U.S. Congress and explain that they are remorseful for their acts and at one point make empty promises that it would not happen again, yet there is no contrition or even a willingness to pay back the smaller investors they intentionally defrauded with billions of dollars in worthless securities. The paradox of their leadership style is made complete when they offer up only verbal contrition, nothing material, to the U.S. Congressional Committees, then continually reward themselves and their top performers with massive financial windfalls. This paradox of greed causes the U.S. public to drive the financial industry to the lowest levels of trust of any industry included in polls measuring transparency, trust and authenticity (Marsh, 2013). The paradox of this leadership continues with the double-standard of portraying one type of leadership to the U.S. Congress and American people, and quite a different one within their own ranks and with their top financial services performers. This duplicity of leadership styles also violates many of the foundational aspects of ethical leadership as well
(Marsh, 2013).
Of the many aspects of the film that are directly related to management and leadership, the most glaring is the lack of transformational leadership evident in the leaders of these foundational firms. They…
References
Baber, G. (2013). A critical examination of the legislative response in banking and financial regulation to issues related to misconduct in the context of the crisis of 2007-2009. Journal of Financial Crime, 20(2), 237-252.
Bauman, D.C. (2013). Leadership and the three faces of integrity. Leadership Quarterly, 24(3), 414.
Marsh, C. (2013). Business executives' perceptions of ethical leadership and its development. Journal of Business Ethics, 114(3), 565-582.
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