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.