Inside Job position paper free essay sample

It will doubtless make many people especially those who lost their jobs and savings angry at not only what the banks did, but that many of the people responsible are still in their jobs, and that no ones gone to prison. The ordinary taxpayers are facing higher taxes and spending cuts, while bankers walked away Scot-free. People who had bought a house they couldnt afford are now living in a tent, whereas bankers have still got their jobs.Consumers enjoyed buying houses that ultimately they couldnt afford, but mortgages were shoved down their throats without any care on the part of the bankers. The money was easily .NET after some adjustment made by the rating agencies, yet the Government give their consent on it. The scene seized of regulators, politicians and academics who all became cheerleaders for the continued deregulation of finance show how weak is the action taken by the Government and that culminated in the great crisis. We will write a custom essay sample on Inside Job position paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Therefore, massive re-regulation is required to ensure that finance is safely locked up. Although ones might puzzled what was the Prime Minister of Singapore (with his soft-spoken voluntary-like others statement) got to do with this. Of particular interest is the dubious role played by academic economists. Many were paid vast, undeclared sums to produce biased reports saying Cods and other dodgy derivatives were safe and that Iceland was fine to be gambling with 10 times its annual GAP. The corruption of top US economists (including prostitutes offered by traders at the Wall Street) and their complete lack of awareness of what they had done were truly shameful.As a conclusion, many were to lame for the banking crash of 2008 and there are many answers on why so little has been done to reform the financial world or bring criminal prosecutions against the principal person towards this cause. From my opinion, the Government should be able to smell this global effecting disaster. They have all the information needed from many angle I. E. Economists, academician, bankers, opposition parties, current trend and history, yet only several almost insignificant moves were made.