Tuesday, November 6, 2012

Exploration 8

Austin Gates
1110.03 1;15pm-3;15pm
Mr. Lohre
Inside Job

What really stood out to me during this documentary is how all these big shot CEO's bankrupted their company and still managed to walk away on top and with a good amount of money in their pocket or have their net worth jump up. To me some of society worries about it for a very little while, then all of a sudden they just completely stop caring altogether they forget what happened they allow these companies to get bailouts and just use all our money and act like nothing happened.
         Another thing i found very interesting and i did a little extra research on was the Gramn-Leach-Biley Act.it was mentioned towards the beginning of the documentary and it is more commonly known as the "Financial Services Modernization Act of 1999. Which removes barriers in the markets among banking companies." I am happy to see that we removed barriers early before all these bailouts and economic crisis went wrong but i feel like we could have done more than this as well.
        I feel like when it comes to learning more about Americas financial status and the route were heading we can do more than just watch it on the news as it happens or just learn about it a few days before it happens i feel like more people should be educated in the financial status of the U.S. A quote I really feel should be applied is from Christine Lagarde and she said "The financial industry is a service industry. It should serve others before it serves itself." I feel like this is just great cause the financial industry does the opposite and tons of people feel this way.


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