Do you know the exact reason of the 2008 financial crisis? In my case I thought I knew, but I realized that I was all wrong after watching this movie. This movie criticizes the reality of this break down and wants to point out the problem of current America society that is ruled by the wall street key players.
By the bankrupt of the main companies like AIG, Lehman Brothers, and Godlman Sachs, there was a severe economic crisis in the year 2008. For the economies are all linked together, this financial crisis had a huge effect not only to America but also to the world economy. Millions and millions of people lost there job and loosed their money. This movie is showing how the 2008 financial crises occurred, and it is pointing out that the financial crises was occurred because of the corruption of the key players and employers who were the core of these main companies.
In this movie they interview economists, professors and CEOs who know well about the US economy and the financial crisis. These people all say that the 2008 financial crisis was decisively occurred by the deregulation. By this deregulation, the key players of the main companies played a fraud against the customers and laundered money. The most important thing is that within the company they tried to help conceal this fact. The irony is that the government hires these people as a the treasury secretary. So they call the government the ‘Wall street government’
Before I saw this movie I did not know that the 2008 financial crisis was occurred because of the company itself. As watching it, I realized that this movie has the same opinion as Jang Ha-joon who is an economist and a professor of Cambridge University. Jang Ha-joon emphasizes the role of the government and their regulation. He believes the role of the government should be expanded and the restrictions are necessary. I also think that because there were know regulations against there companies like Lehman Brothers and Goldman Sachs, they tried to only consider their profits and expand their volumes. So this financial crisis was not an accident but was caused by an out of control industry.
This movie simply interviews people and shows charts. However it has a great effect on showing people what is the truth about the break down of the US economy, and it also lets me think about the influential of America. We should always have an eye on the world economy because nowadays everything is linked together and they give and receive the impact.
Jihye,
I’m going to keep my feedback simple: this is an essay, and it has 5 paragraphs, but it is not a 5-paragraph essay of the kind we studied about in class. You have no thesis (not a strong thesis, but also not a thesis); you do not explore your argument in 3 points. All you have, basically, is a review of a film. Film reviews are fine, but you need to make sure you can write a 5-paragraph essay of the kind we studied. That is what this homework was for.