The Reel to Reel Program at the Toronto International Film Festival (TIFF) always delivers when it comes to edgy, informative and entertaining documentaries. My first two docs at this year’s festival are a clear example of this.

Inside Job
Dir. Charles Ferguson

The economic crisis that hit worldwide in 2008 had been an topic of discussion since before it actually happened. In this documentary, Ferguson (pictured above) brings us into the world of Wall Street. He also asks some key players some of the questions we’ve all been wondering…how did we get in this mess, really?! I found myself engrossed in the vast amount of details, contradictory stories from financiers, economists and politicians alike that led up to the crisis in the first place. It is one thing to watch things on the news; it’s another when we hear from the “horse’s mouth” (so to speak) how economists make things work so companies like AIG, Lehman Brothers — to name a couple — managed to pay their top executives millions in salary and bonuses while the average citizen was trying to make ends meet. What is also apparent in this documentary is how politicians also work along with these finance gurus for their benefit.

What is evident to all now is that this global crisis had its inception in the US and it has affected the world twice over. If you are an information seeker, a political junkie or simply just curious, there is plenty for you in this film. There is plenty to digest and most of it is unpleasant. Manipulation of rules, lack of regulations and economists left speechless and caught off guard are just a few things that make you want to reach for some Pepto-Bismol. During the Q&A, Ferguson discussed how surprised he was that most people agreed to participate in the film. He admitted that he did not share a full of list of questions he’d be asking but that proved to give us some of the more entertaining and informative bits of the film. Even if you’re not interested in politics or details about what role derivatives play in the global economy, I think there is plenty for you to take home with you. Though the film is not showing again at TIFF, Sony Pictures will commercially release it in October.

Client 9: The Rise and Fall of Eliot Spitzer
Dir. Alex Gibney

Client 9 could very well be the companion to Inside Job. Gibney invites us to learn more about Eliot Spitzer, the lawyer who became NY’s Attorney General, NY State Governor, and who could have been President of the U.S. of A. The film begins with the rise of Spitzer’s career; his pivotal role as NY Attorney General and his going after some of the biggest names in Wall Street. Spitzer did not sell out and pointed out the many troubles that would arise from giving those in Wall Street so much power and liberty with people’s money. He would point out what many did not want to hear; how corruption was taking over the New York’s Financial District and many of the country’s politicians. As Governor, he continued to point such issues out. As Gibney presents us interviews with many who despised Spitzer along with Spitzer himself discussing his career, we get to the point when the rise takes a sharp drop and Spitzer’s fall from grace is all over the headlines. So he got caught… how and why he got caught is what makes this even more interesting.

There is not doubt Spitzer made enemies with many in high places… and as we all know, in America, money talks. Thus, it’s no surprise that Spitzer’s encounter with a certain escort became the scandal those in Wall Street along with some politicians were waiting for. Here we are, early 2008 at the brink of an economic downfall and all eyes turn to Spitzer and his being a client of a well-known, expensive escort agency. Yes, some dirty details arise in this film. Yes, the FBI launched a major investigation and the media went into a frenzy. I think the film makes it a point to make us see Spitzer for the interesting yet flawed man he is; pretty much like any one of us. The film also points to the intimate relationship money/economics and politics play in the USA. As Spitzer mentioned in the film, his story is similar to that of Icarus in Greek Mythology. Icarus was given a set of wings to fly but in the end, Icarus plunges to his death. An interesting comparison, if you ask me. Gibney tries to provide enough information to make us see the good and the bad, I think. Spitzer’s transgressions proved to be the ammunition his opponents needed to oust him. Spitzer alone could not have save Wall Street from creating the economic crisis in 2008 but perhaps he could have pushed for changes. I guess, it’s too late now. However, it’s not too late to catch this documentary at TIFF and join the discussion. It plays again Sunday, Sept. 19 at 9:15am. For more details, check out tiff.net.

Images by Heidy M. and tiff.net