Blog 4 Inside Job

The documentary Inside Job gave a very interesting insight to the debt crisis our country fell into a few years ago. The view point of the film maker was to point fingers at the bankers, describing how they were focused on money and greed. Loans were given out to people who would not be able to pay them back in order to accumulate more loans to sell to bigger companies. Greed was an obvious factor in this. The banks and large companies wanted to earn more money in a short amount of time with mimimul liability. This sytem was the best way to do it. Yet it left the people who took out the loans in debt and without their homes.

I’m going to connect this to the post I did on Debt by David Graber. there is no denying the fact that the banks were acting imorally in their choices. Yet the idea now is that the people who took out the bad loans were innocent victims who had their money stolen from them. I believe it is true that some people were convinced to take loans they knew they could not pay off. Yet can we say that for everyone? People were taking out loans they knew there would be difficulty paying back. The banks were making bad choices, yet maybe some homeowners were too.

Advertisements

2 responses to “Blog 4 Inside Job

  1. ciarasullivan25

    I think it’s interesting how you take time to look at the other side of the financial crisis. Yes, the banks as well as our government are to blame for taking big risks and ultimately being greedy but I don’t really think anyone takes notice of the people who took out these loans. So many are quick to judge and point fingers but maybe in looking for someone to blame they forget there are other causes to the situation. I had never thought of it until you brought it up; the only mention of this I remember in the documentary was the woman who was speaking Spanish who clearly was not at fault. The documentary really doesn’t show the other side, but I guess that’s usually how documentaries are- biased. However, I do remember a man in the podcast we listened to who took out $540K without having anything to pay it back, so yes, I agree with you.

  2. This film gave a better understanding of the financial crisis, where many of us maybe were not aware of. Ultimately, I think this crisis is a result of bad decisions from many people, the government, the financial elite, and homeowners also.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s