Akash Agarwal ACCTG 2600 – 005
The documentary Inside Job does a very good job of explaining what happened in a relatively short period of time and in an accessible way. The film also has compelling villains and outrageous behavior that is bound to engage and enrage viewers. It's basically an overview of the financial crisis of recent years, which we are still recovering from. The thesis seems to be that the regulations that were put in place after the Great Depression have been systematically dismantled since the Reagan years (powered by Wall Street lobbyists) which played a pivotal role in this meltdown and lesser ones in previous years. And very little is being done to fix this faulty system and the ones who should be held liable are not and still filthy, filthy rich and very powerful. The most breathtaking fact is that the arrogance, greed and corruption that these people exhibit and the fact that none of them have been indicted for fraud and violation. This film not only makes me angry but also furious. This shows concept of capitalism at its worst. It is not about right, left, democrat or republican nor the failure of capitalism, it was about pure greed and corruption. What happened and continues to this day is not capitalism. It is corporatism I think which is also known as fascism. If it were truly capitalism, there would be no such thing as "too big to fail" and there would be so many fines and prison sentences handed down it would hugely dwarf the savings and loan scandal. This film portrays lots of psychopaths that only care about one thing: furthering their own personal gain and the ends justifies the means is their mantra. Over here psychopaths means the people who are over obsessed with money and they just want more and more. There is a lot of wrong doing which is not ethical but legal because the American government helped them to make it legal like CitiGroup acquiring Traveler. Why does the financial system have to grow more complex, in the sense...
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