Tuesday, November 6, 2012
Exploration 8
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.
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I agree with you about how US economy affects the whole world. I cant believe that US bankers are fully aware that other countries are depende on US and they still took risks. They came up with dangerous schemes to make money for themselves and that lead to everyone else suffering.
ReplyDeleteIn just a few words you expressed a lot and this is so sad how our ecomony is effected.
ReplyDeleteI completely agree, everything and everyone is affected when something that big happens to our economy. But to be honest the movie didnt surprise me much, usually people who have money and power they seem to take advantage of it.
ReplyDeleteI had no idea about how the loans worked in the "new system" either; but it is clear to me now why the crookedness behind how they effected the people. I thought that it was absolutely flooring how when these men were confronted about their actions in court, they still felt nothing; like they did nothing wrong. Good post!
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