Tuesday, November 6, 2012
First off, if this film did not make you feel something then you were not paying close attention. That’s just my personal opinion. It became clear with the viewing of Inside Job and additional research that our current economic hardships were long in the making. And not just in terms of the US, but as a world population. I do believe that Singapore's PM said it best, "It's a very globalized world; the economies are all linked together." We saw this. When the banks failed here in the US, we saw the fall of banking systems in Greece and Spain, with the rest of Europe on the edge as these two countries crashed.
I do believe that Inside Job did a fantastic job at explaining the chain of events that lead to the system failing. Before I had no idea about how loans worked, or that investors would place bets on these loans. This would be the example of risky behavior and mismanagement that the article I read from the NY Times was going over.