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The document discusses several issues that contributed to the global financial crisis, including conflicts of interest between academics, regulators, and the financial industry. Interviews revealed careless and unethical actions in the financial sector. Rating agencies gave high ratings to risky investments like CDOs, despite evidence they were dangerous. Corruption was a major issue highlighted in the film, as regulators failed to rein in reckless behavior that caused job losses worldwide and increased national debt.

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Aaron Huang
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48 views2 pages

Reaction Paper

The document discusses several issues that contributed to the global financial crisis, including conflicts of interest between academics, regulators, and the financial industry. Interviews revealed careless and unethical actions in the financial sector. Rating agencies gave high ratings to risky investments like CDOs, despite evidence they were dangerous. Corruption was a major issue highlighted in the film, as regulators failed to rein in reckless behavior that caused job losses worldwide and increased national debt.

Uploaded by

Aaron Huang
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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An in-depth analysis of the intricate relationships between academics, regulators, and

the financial industry is provided in the film, with a focus on the conflicts of interest and
lax accountability that fueled the crisis. Through interviews with prominent economists,
bankers, and politicians, the movie uncovers the careless actions and lack of ethics
inside the financial sector that contributed to the issue. My viewpoint on a variety of
subjects was enlarged, and I became more conscious of my surroundings. In the same
way that pairing investments from safe companies with those from high-risk ones might
hide a AAA rating. I was mistaken when I believed that a company's AAA rating was the
biggest indicator of investment safety. I was shocked to learn that academics counsel
firms on their economic operations. Therefore, it is possible that the lessons being
taught in colleges will be biased and ultimately beneficial to corporations. I've always
thought that instructors' main responsibility is to mold their students into better citizens,
but why should your teacher try to correct your wrongdoings and teach you the proper
way if he is also benefiting from it? It was unexpected that many employees were let go
while the board of directors and trustees received higher bonuses. How backward is the
world? The lucky become richer, while the unfortunate become poorer. Many people lost
their employment, and the majority of them still don't have jobs. Criminals who have
been found guilty have been reintegrated into the private sector. Although I have no
doubts about their abilities, ultimately selfishness will win out, and what sort of world
would that be? Who would watch out for the underdogs if everyone was only thinking
about themselves? I believe that this kind of activity should be covered by the law. The
fact that these rating organizations are giving the CDOs high ratings despite the fact
that they have proven to be extremely dangerous is one of the main issues here. It is
puzzling why very risky investments receive AAA ratings, the highest rating available for
investments. However, rating agencies are exempt from liability even if their
assessments turn out to be incorrect because they claim that their assessments are
mere opinions and that investors shouldn't base all of their decisions solely on them.
Corruption is without a doubt the main issue highlighted in the documentary. They must
pay back for it, for causing a financial crisis that affected the entire world, for creating
millions of jobless people, and for more than doubling American debt. These dishonest
individuals were the main causes of the major events in the documentary, hence they
had a significant impact on the story. The Philippines' corruption is so blatant, and I
believe it is possible there.

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