Tuesday, November 6, 2012

Exploration 8

Clayton Carpenter
English 1110
Michael Lohre
November 6, 2012
                                                            Exploration 8

The film Inside Job was a documentary about corruption of corporate investment agencies and how they exploited the american financial system to maximize profits while being insured by the american government. The insurance the government gave these agencies allowed them to receive no punishment if they were to fail. The investment agencies then started taking on risky loans because it raised the bonuses of the CEO's. The companies then bet against their own loans through AIG to raise their profits even higher.
The late 2000 bubble and collapse shows how people in power will always exploit the system if they can find a loop hole in it. These CEO's never face the justice system and always get away with the crime because they have the funds for lawyers and a good reputation. This also makes the lower class feel like the government is against them because petty crimes are usually the only ones truly punished.


1 comment:

  1. It's almost unbelievable how these companies knew that they were setting up things to fail, and then betting that they would fail for their own personal gains. It does seem like mostly petty crimes are punished in comparison to these multimillion dollar frauds, which is just sad. People who committ a crime should be punished regardless of their income or social standing.