Inside Job Essay

A factor that caused the real estate bubble was when mortgages companies were given mortgages to finically unstable families. Inflation went up and there was more demand than supply. Also interest rates were very low as well. The bubble was creating profits for these CEOs, but it wasn’t real therefor flooding the financial system.

Deregulation allowed banks to combine and set any inters rate they want. Compensation motivated CEOs to continue handing out mortgages simple because they would even more money. I think government regulations would control the oncomes of CEOs and put a hold on them from receiving large amounts of money. The government should raise interest rates and regulate how much one person can borrow.

I think compensation is a factor in the crisis and I think I would support government regulation at certain levels as it may reduce the problem. Business schools should not encourage externally funded researches for the simple fact that they are biased. These researchers are paid to write.

Ethical behavior is what you believe is morally right in society while legal behavior is what is socially acceptable based on the government. In this care ethical values are not same as legal values, Sachs was being legal but very unethical. Goldman Sachs knew their clients were not knowledgeable but they still advantage of their customers. All the players really didn’t do anything illegally, but it was still unethical. There would probably be nothing in court due to legal defenses. There still must be more regulations and amendments that need to be set in place, so this won’t happen again. The investigators should do an investigation. Our economic problems are not limited to the finical industry, of course fixing the system will help but we still won’t be out the woods.

Our economic problems are very attributable, as the government controls the flow of money and their also part of wall street. I’m pessimistic about our economy over the next few years, especially for my generation. Some important steps would be regulations on lending money and focus on the need of jobs. The suggestion of the film’s title is basically how these big banks were doing an inside job of fraud. Nobody on the outside had Knowledge of it. I think this is fair characterization as it makes sense why it’s called a “Inside Job”. I think there needs to be more regulation, the purpose of the stakeholder is to keep the interest of customers, suppliers, and employees. If a business wants to grow they should be loyal their customers and help them make the right choices based off of the customers’ needs.

Everyone is responsible for their own choices, but I think when a company is pursuing you in the wrong direction and the customer is not aware if, they should be held accountable. I don’t the customer should be held accountable for that. I think that maybe the government should mitigate consulting fees and seats on boards of directors for prominent academic economist so situations like the Inside jobs doesn’t happen.  

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