The Inside Job - Financial Crisis - Rebuplican vs. Democrat
Are you liberal or conservative? I have always listened to people talk about this and discussing politics. However, I never had a clue of what it meant. But now I do. I realized that both of these parties are very contradicting and very hard to be 100% on one side. In my case, I feel strong about some of the things that Democrats believe in. But, there might be some others that Republicans may also be right about. |
The Inside Job
THE 2008 FINANCIAL CRISIS. | -30 million people unemployed -US debt doubled -Caused by an "out-of-control" industry |
However, the first thing I fully understood and figured out really fast, was all the lying and dishonesty that was involved. Everything that changes in the economy is up to us, the people. We are the ones who really cause these changes.
WHY?
MONEY, MONEY, MONEY.
Banks often offer loans to people who cannot repay them. This may not make sense, but, what if they had the incentive to do it anyways because they know this will bring them some profit? Of course they'll do it.
How?
through I N T E R E S T .
This is why these two acts were created.
The Glass-Steagall Act vs. Gramm-leach-Bliley Act
Against Important in regulating banks (kept banks separate) | In favor Let the banks merge |
Why shouldn't companies merge?
It could create a MONOPOLY.
Prices could go up or down whenever they decided to.
MONEY PRODUCES more MONEY
Why do companies pay lobbyists to influence the government for their own interest? Because they want more money.
- VOCABULARY -
Resession | Depression |