Exploration 8

Alyssa Johnson

English 1110.03
1:15-3:15
Mike Lohre

 

One word that comes to mind after watching 'Inside Job' is corruption. The government is supposed to be for the people. Bank CEO's become government officials and instead of working for the good of the people they are working for themselves. The government officials make laws convenient for themselves and future employees that allows them to make outstanding amounts of money. They have no regard for the welfare of the American people, they are just trying to make money. Not only are they making mass amounts of money they are getting away with illegal activities. Such as soliciting prostitutes and taking illegal drugs. They get away with what the average person would spend years in prison for. A bank CEO could default on a loan and could rely on taxpayers to help him, an average person defaults on their loan and loses everything. William Buiter in a clip during the film said: "Why do you have big banks? Well, because banks like monopoly power; because banks like lobbying power; because, banks know that when they're too big, they will be bailed." They think the US is their oyster. They think they can just keep taking and taking and taking. They think we are their to serve them and make them rich. Well look what happened America went through the worst Recession since the Great Depression. Way to go government.

Two great information sources about the Recession.:

http://www.fdic.gov/bank/analytical/CFR/bank_research_conference/annual_9th/Matos_P.pdf

http://www.nytimes.com/2011/01/26/business/economy/26inquiry.html