MONEY | POWER |
Logistically we believe that everyone is addicted to a specific things. For some of us we think that drugs are probably the worst addictions we can have. Sadly this is not true. Money, as less obvious at is seems, is the strongest and worst drug you can fall into. Think about it for a minute, it comes with hard work, it provides you with everything you want, it gives you power, it gives you opportunities, and it lets you be less dependable. A infinite amount of opportunities are given with money.
How does this connect to "The Inside Job"?
"Because of deregulation from 1980 to 2008, investment banks were earning millions because of fraud. The rich kept getting richer and the poor kept on being poor." - Domenico Peñaloza
"Because of deregulation from 1980 to 2008, investment banks were earning millions because of fraud. The rich kept getting richer and the poor kept on being poor." - Domenico Peñaloza
So here is what I thought:
There where a LOT of times which as a class we had to stop the movie in order to get the information straight. I was most certainly lost during many parts because of the use of financial literacy and because there where many important people being screened which I had no conception of who they where. Everything that one of the biggest, or if not the biggest bank in the U.S was selling was a fraud. Over the years, while these big banks where being sued, they where also buying lobbyists to talk well about their company, also, he where buying every lawyer that was looking deeply into their case. Because they had money, they where able to buy out the competition. This all connect to one important concept, money gives you power.
Big events like these are the type of phenomenon that no one forgets. This occurrence changed wall street for ever. "Financial giants such as Bear Stearns, Lehman Brothers, Merrill Lynch, AIG, Fannie Mae, Freddie Mac, and Citigroup have either disappeared or been rescued through large government bailouts." - Charles I. Jones.
The intensity and disgust that you get because of the terrorising things that investment banks are able to do is just mind-blowing. I do highly recommend this movie, although, I must me honest, I did not fully understand the movie. It is just as important as knowing about the new Apple laptop -- it is just knowledge that everyone should be aware of.
Currently, here in Lima-Peru we are facing a problem similar to this one. Banks are giving out loans to people which number one, they won't have money to pay back, thus, making them fall into dept. Number two, they are giving out money which they don't have money. Sadly, I don't have a lot more information about this topic but there is a lot more than this!
There where a LOT of times which as a class we had to stop the movie in order to get the information straight. I was most certainly lost during many parts because of the use of financial literacy and because there where many important people being screened which I had no conception of who they where. Everything that one of the biggest, or if not the biggest bank in the U.S was selling was a fraud. Over the years, while these big banks where being sued, they where also buying lobbyists to talk well about their company, also, he where buying every lawyer that was looking deeply into their case. Because they had money, they where able to buy out the competition. This all connect to one important concept, money gives you power.
Big events like these are the type of phenomenon that no one forgets. This occurrence changed wall street for ever. "Financial giants such as Bear Stearns, Lehman Brothers, Merrill Lynch, AIG, Fannie Mae, Freddie Mac, and Citigroup have either disappeared or been rescued through large government bailouts." - Charles I. Jones.
The intensity and disgust that you get because of the terrorising things that investment banks are able to do is just mind-blowing. I do highly recommend this movie, although, I must me honest, I did not fully understand the movie. It is just as important as knowing about the new Apple laptop -- it is just knowledge that everyone should be aware of.
Currently, here in Lima-Peru we are facing a problem similar to this one. Banks are giving out loans to people which number one, they won't have money to pay back, thus, making them fall into dept. Number two, they are giving out money which they don't have money. Sadly, I don't have a lot more information about this topic but there is a lot more than this!