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A Reaction Paper On Inside Job

The documentary Inside Job provided a filmmaker's perspective on the 2008 financial crisis that opened the author's eyes to several revelations. It showed how AAA ratings could be misleading by pooling risky and stable investments, and that academics advising companies may promote biased lessons benefiting those companies. The crisis personally impacted the author as their brother-in-law lost his job at J.P. Morgan while executives received bonuses, showing how unfair outcomes can be with the rich profiting and poor suffering more lasting impacts.

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lizzie_mcg
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12K views

A Reaction Paper On Inside Job

The documentary Inside Job provided a filmmaker's perspective on the 2008 financial crisis that opened the author's eyes to several revelations. It showed how AAA ratings could be misleading by pooling risky and stable investments, and that academics advising companies may promote biased lessons benefiting those companies. The crisis personally impacted the author as their brother-in-law lost his job at J.P. Morgan while executives received bonuses, showing how unfair outcomes can be with the rich profiting and poor suffering more lasting impacts.

Uploaded by

lizzie_mcg
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Dolina, Athena Lynn P. A Reaction Paper on Inside Job Inside Job was an eye opener.

It gave me a deeper look on the financial crisis, though we tackled the 2008 financial meltdown in my Econ 121 (Money and Banking) class. It was a different take on the financial crisis, a film maker s point of view. It opened my eyes to a lot of things and made me more aware of the situation around me. Like an AAA rating can be disguised by pooling together investments from high risk firms to stable firms. I always thought that an AAA rating was the safest way to tell if the company is safe to invest in, I guess I was wrong. The surprising thing was that those who are in the academe are the ones who advise companies regarding their economic activities. So what are being taught in the universities may very well be biased lessons, one that would benefit the companies in the end. I always thought that teachers were there to help their students become better members of society but if your teacher is also benefiting from the wrongs then why should he try to correct it and teach you the proper way. The 2008 financial crisis was a personal thing for me. By that time my sister and her husband were already in the US. My sister was finishing up her MBA while my brother-in-law was working. Because of the financial meltdown my brother-in-law lost his job since he was one of the new employees who joined the company. He was an accountant in J.P. Morgan& Co. It was a shock that a lot of people lost their jobs yet their board of trustees/ directors were getting increased bonuses. How unfair can the world be? The rich become richer and the poor become poorer. A lot of people lost their jobs and up until now most of those people haven t found jobs yet. Those who have been proven guilty of crime were absorbed back into the private sectors. I don t doubt their skills but ultimately selfishness will prevail and what would the world come to then? If everyone was only looking out for their own then who would look out for the disadvantaged?

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