The movie “Inside Job” wasabout the financial crisis of 2008. I have always heard about this crisis,however never got the chance to actually study and understand it. This movegave me a deeper look at the financial crisis, and most importantly how it startedand who is to blame. There were many surprisingthings that I encountered during the movie but the most shocking one was thatthose who are in the academies such as Harvard are the ones who advisecompanies about their economic activities. I thought that teachers help theirstudents to make the right choices for the society because I always believed inthat image of the teacher, but if they also benefiting from the wrongs then whyshould they try to correct it and teach the proper way. This film showed how unfair theworld is.
Many people lost their jobs yet their board of directors were gettingbetter off. In one sentence, we can describe it as “The rich become richer andthe poor become poorer.” Another very impressive thingthat I would like mention was the part when it said that this crisis was apredictable accident. The move gave a clear reason why the U.S. economy grewwithout any financial crisis since 1930 until 1980, and it is because thefinancial industry had strict regulations. And why after 1980 it started tocome to its collapse, the reason is that they relaxed and become corrupt,thinking of only about their profit, as a result people were able to borrow asmuch as they wanted, which further caused a problem to grow and resulted in thecrisis.
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The worst part is that financial industries are not trying to takeresponsibility for their actions. Moreover, it does not even seem to improve.I would like to end my paperwith the quotation from the film, which had a great impact on me. “For decades,the American financial system was stable and safe. Then something changed. Thefinancial industry turned its back on society, corrupted our political systemand plunged the world economy into crisis. At enormous cost, we have avoideddisaster, and are recovering.
But the men and institutions that caused thecrisis are still in power and that needs to change. They will tell us that weneed them and that what they do is too complicated for us to understand. Theywill tell us it will not happen again.” This words made me realize that theyare right it needs to be changed, and yes they are right what they do is toocomplicated for us to understand. Nevertheless, this can be changed and needsto be changed, this made me realize that I need to study more in order tounderstand that so-called “too complicated” staff. Because that will allow meto make sure that, what happened in 2008 will not happen again.