Tuesday, April 12, 2011
Inside Job True or False (GROUP 7)
Group 7 The movie Inside Job was certainly an interesting one and we would have to say that we really enjoyed it. We found the movie to portray many interesting facts about the government and the banking crisis. We know that everyone has there own personal opinions about the crisis and why it happened. We want to know what all of you thought about the movie. Here are some questions that might just stimulate the mind and make you even think twice about the movie or what side your on. For us the movie seemed to be very one sided and it seemed to only attack the banks and government. Now here is the first question was it only the banks fault that we fell into crisis? Why or why not? Usually documentaries try and investigate both sides of the argument but this argument was very one sided. In the movie/documentary it talked a lot about the CEO's of these big companies making millions of dollars. Now we believe that these CEO's made lots of money but is that selfish of them? You know that most of those CEO's made salaries which weren't extremely high. However they usually made their good money off of the bonuses they received from investing, financing, etc. So if you were getting paid according to your bonuses wouldn't you want to lend more. The banks were doing more investing, financing, etc. and that's why the CEO's wanted to do more and more. Making money is a business so were the banks CEO's wrong in trying to make money for themselves or their companies? Some of the things in this movie were true and really interesting, but I'm also afraid to inform you that not all of it was all the truth or the truth they had was blown out of proportion at times. If the crisis would have been completely avoidable we would have avoided it. The movie was great and gave lots of truthful insights to the economic crisis that happened, but we have to look at all the facts before we decide what really happened. This Blog post was to just get all of you thinking that there might be more about this crisis than what the movie really portrayed.
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There are some very important points brought up in this blog post. I was blown away by some of the points given in the movie and it showed some viable reasons for the bursting of the economic bubble. But in support of this post, there is another side than corporate greed that is just as important to point out. Consumer greed is just as large of a reason the crash. The housing market can be used as a perfect example. Yes a huge part of the responsibility lies on the loan offices. Their loosened loan policies made the loans more obtainable but most consumers knew the risk of obtaining loans for a house they could not afford. A member of my family is a perfect example. They had a home that was perfectly suitable for their needs and lifestyle. But because they had an insatiable need improve their image they sold the reasonable house and took out a loan for a mansion they could not afford. Long story short they lost their home and became a small part of the national financial crises. Their greed is a perfect example, they knew the risks and still took the house. So as much as we like to blame corporate greed, the consumer can be tied to the economic crash as well.
ReplyDeleteTyson Andrus
I couldn't agree more with Tyson; the people have a lot of the blame for the economic crash. This film showed very well what caused this crisis, and the means by which the large investment banks were able to make money, all very possibly being perfectly true. However, the only reason it worked so well was because they were able to get so many Americans on board, the crisis would not have been so devastating for so many people, were it not for the unwise spending and debt management of so many people. At the end of the day, it all came down to creed, whether by the banks or those investing with them, the desire to have more than needed or the affordable is what brought the economy down.
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