Wednesday, November 7, 2012

Exploration 8

     The movie Inside Job was very interesting and eye-opening for me. I was completely taken aback by the amount of money that was lost at the time because of just a few companies and the major long term effects on the US economy. The crazy thing is that when people were investing into big businesses like that and thought that their investments would be safe because of a high security rating; like AAA,  but in actuality those huge companies pretty much rated themselves. Then when they went to trial for what they had done they said that their "ratings were merely opinions and investors should have done their own research". The leaders and CEOs of the investment banks were pretty much exploiting the position they were in for their own personal gains and for lining their pockets. They were promoting risky investment for the benefit of themselves, without thinking about what it could and did do to this country. Wall Street is incredibly large and with that large of an industry or business, the top executives are expected to make a large salary, but when they make millions of dollars a year it is nothing but greed that makes them even think about making more money. I found a site where the author simplified the whole issue and the main cause of the economic crisis, greed. http://www.moolanomy.com/866/what-caused-the-financial-crisis-of-2008/

8 comments:

  1. I am going to check out your site you posted here. I want to read more and learn more. I want to be able to pass this information on and hopefully help others.

    This is a very good and informative blog.

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  2. I agree with you, it's insane how much money was lost because of greed along the board. I never knew how it really happened and this movie sure taught me a lot about not just the issue but about human greed.

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  3. I agree with your statement about the top CEOs being greedy and only wanting to make more money for themselves. They were clearly only thinking about themselves and not about what would happen to our country as a result of their selfishness.

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  4. I like here what you ststed, that the companies rated themselves. Though I have never been very informed, or intrested for that matter, I find these facts that you have presented here very intersteing.

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  5. I also found it interesting how the rating companies gave a very high rating to things that didn't deserve that rating, this caused a lot of people to lose money.

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  6. I was also taken back by how much money the companies lost when this happened. It was crazy how the companies claimed that the ratings were just opinion on the companies part.

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  7. I agree with you on this. CEOs are greedy, most people in money are. No person can get enough of it. they are looking at them self and not what could happen for us. the middle class and the people under that.

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  8. I don't think the CEO's can be blamed. In any situation people are going to do what benefits them. The only reason some companies donate to charities is because it gives them a positive public opinion about their product that benefits their sales. CEO's are businessmen at the end of the day and cant be held accountable for being greedy or not giving back to the community.

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