The last issue of Debating Innovation, the journal of the Observatory for Responsible Innovation, is now out and available here. In the piece titled “After Inside Job: consequences, problems and perspectives”, Charles Ferguson, the director of Inside Job (2010, Sony Pictures Classics), answer our questions on the aftermath and consequences of his acclaimed documentary film. The film focuses on the booming of financial innovation from the late 1990s onwards (securitization of subprime loans, development of credit derivatives) in the North-American financial services industry, on regulatory liberalization, and on the lack of accountability and the systematic corruption that characterized the activities of most dominant actors during that period.
In this interview, Charles Ferguson reflects on the consequences of Inside Job and on the crucial responsibilities and issues that still need to be addressed. Among the fundamental problems that need to be addressed, Charles Ferguson explains, are the role money plays in politics in the United States and the economic pressure for regulators to move to the private sector.