Accountants normally solely make the headlines or have their tales instructed on the massive display for the misdeeds through which they’ve performed an element.
These 4 movies convey to gentle a number of the darkest examples of greed and corruption and present how vital ethics are to sustaining a monetary system that’s continuously hanging within the stability.
- In Debt We Trust: America Before the Bubble Bursts explains how all of us acquired so deep in debt.
- Enron: The Smartest Guys within the Room explores the largest fraud of recent instances.
- Unraveled exhibits how Wall Street’s smartest acquired conned.
- The Shawshank Redemption exposes corruption within the jail system.
In Debt We Trust: America Before the Bubble Bursts
Debt has turn into a lifestyle for Americans, and this 2006 documentary is a wake-up name to a youthful era that can’t cease dwelling life within the crimson. The movie digs deep into the financial and political insurance policies chargeable for remodeling the U.S. economic system from reliance on manufacturing to dependence upon consumerism and debt.
At the time of the movie’s launch, it was estimated that Americans owed greater than $10 trillion of client debt. (By the primary quarter of 2021, it had grown to $14.64 trillion.) In Debt We Trust exposes and explains a system working on borrowed cash and borrowed time, and informs us that it’s only a matter of time earlier than the entire system collapses.
The movie takes a important take a look at the long-term results of wide-scale debt abuse, such because the rising inequality in wealth between the few mega-rich and the remainder of us.
Enron: The Smartest Guys within the Room
The Enron scandal was one of the crucial egregious and disastrous latest reminiscence scandals and is the topic of the documentary Enron: The Smartest Guys within the Room.
The filmmakers assemble a wealth of video footage from congressional listening to testimony and have candid interviews with Enron executives Mike Muckleroy and Sherron Watkins, who blew the whistle on the corporate’s many unlawful schemes.
The tales of what Enron merchants have been doing behind the scenes to maintain their jobs and earn cash at any price are really revolting.
Before a sensible reception blew the whistle, Marc Dreier swindled a few of New York’s most skilled traders.
According to movie critic Roger Ebert, “The most shocking material in the film involves the fact that Enron cynically and deliberately created the phony California energy crisis of 2000-2001. There was no shortage of power in California. According to the documentary, Enron shut down between 30% and 50% of California’s energy industry at one time or another—up to 76% at one point—just to drive the price of electricity nine times higher”.
Bernie Madoff could have grabbed larger headlines for his large Ponzi scheme, however Marc Dreier’s huge fraud—which netted $380 million from the hedge funds of New York’s most distinguished traders—makes fairly an entertaining movie.
Through interviews with Dreier in his Manhattan penthouse, the place he was below home arrest on the time of filming, we find out about his elaborate scheme in nice element.
Dreier headed a 238-person legislation agency, but he was the one particular person there who understood the monetary particulars of the corporate’s offers. Through forgeries and impersonations, Dreier swindled a few of Manhattan’s most skilled traders, till a savvy receptionist blew the whistle on him.
The Shawshank Redemption
You can discover The Shawshank Redemption exhibiting on cable nearly on daily basis of the yr as a result of it’s a nice film. The film’s hero, Andy Dufresne, is not only one other accountant in jail. He proves that understanding obscure tax loopholes can truly save your life and possibly even provide help to escape from jail.
After being wrongfully sentenced to life in jail for murdering his spouse and her lover, Andy learns to get further safety from the jail guards by making ready their tax returns. After his eventual escape from the Shawshank jail, he implicates the corrupt warden for years of unlawful bookkeeping.