Inside Job Documentary Essay

The documentary Inside Job does a very good job of explaining what happened in a relatively short period of time and in an accessible way. The film also has compelling villains and outrageous behavior that is bound to engage and enrage viewers. It’s basically an overview of the financial crisis of recent years, which we are still recovering from. The thesis seems to be that the regulations that were put in place after the Great Depression have been systematically dismantled since the Reagan years (powered by Wall Street lobbyists) which played a pivotal role in this meltdown and lesser ones in previous years. And very little is being done to fix this faulty system and the ones who should be held liable are not and still filthy, filthy rich and very powerful. The most breathtaking fact is that the arrogance, greed and corruption that these people exhibit and the fact that none of them have been indicted for fraud and violation. This film not only makes me angry but also furious . This shows concept of capitalism at its worst. It is not about right, left, democrat or republican nor the failure of capitalism, it was about pure greed and corruption. What happened and continues to this day is not capitalism. It is corporatism I think which is also known as fascism. If it were truly capitalism, there would be no such thing as â€Å"too big to fail† and there would be so many fines and prison sentences handed down it would hugely dwarf the savings and loan scandal. This film portrays lots of psychopaths that only care about one thing: furthering their own personal gain and the ends justifies the means is their mantra. Over here psychopaths means the people who are over obsessed with money and they just want more and more. There is a lot of wrong doing which is not ethical but legal because the American government helped them to make it legal like CitiGroup acquiring Traveler. Why does the financial system have to grow more complex, in the sense of allowing high leverage, moral hazard, opaqueness, and brittle interconnections to flourish? Of course panic will continue to exist and be unpredictable. But the system itself needs to be transparent, properly capitalized, compartmentalized, and policed, so bankers don’t extract mountains of money in good times and then have it go down in flames in bad times every few years. If we can build a robust Internet or electrical grid, we can build a robust financial system. They should all be able to get bigger and more capable without being at risk of constant collapse. You can’t eliminate risk of failure, but you can keep it reasonably small. There is simply no excuse for building a system which can collapse in its entirety without government bailouts. And ultimately, that’s what makes the financial crisis so scary. The complexity of the system far exceeded the capacity of the participants, experts and watchdogs. Even after the crisis happened, it was devilishly hard to understand what was going on. Some people managed to connect the right dots, in the right ways and at the right times, but not so many, and not through such reproducible methods, that it’s clear how we can make their success the norm. What makes me sad is that our key systems are going to continue growing more complex, and we’re not getting any smarter, or any less able to ignore risks that we know we should be preparing for. In my opinion, the movie has a bright side and a dark side. I enjoyed seeing known people talk about the economical crisis and giving their side of the story. I enjoyed seeing witnesses given in Washington by bankers accused of their shameful practices. I think the movie put my attention on the deep problem of lobbying, which results in inefficient regulation and creates a threat for the whole system. The big problem with the movie, however, is black and white approach it takes. It presents 10% of a complicated picture and makes one to believe that it is 100%. For example, deregulation is widely accepted as one of reasons for the economical crisis. In the movie, it is represented in such a way that it looks ridiculous how a law on deregulation could pass – corrupted officials is a hint. The facts are well presented in the movie. Some of them are true like: 1) Banks want to be Too Big To Fail because they know that if they’re too big, they’ll be bailed out. 2) The progressive deregulation of the financial sector since the 1980s gave rise to an increasingly criminal industry. 3) The industry has made more money since the crisis. 4) The average salary of a Goldman Sachs employee is $600,000. 5) AIG paid Goldman Sachs $13 billion in taxpayer money. 6) AIG’s Joe Cassano made $315 million after the company took at least $85 billion from taxpayers. But some of the facts shown were not true. Like the one where it says Dick Fuld earned $485 million, on the other hand it was less than $310 million. It also says that in 2008, the collapse of Lehman Brothers and AIG triggered the crisis. But that is not true as the origins of the crisis can be traced back even further, to the implosion of two Bear Stearns hedge funds run by Ralph Cioffi and Matthew Tannin, the Bear Stearns High Grade Structured Credit Strategies Fund and the Bear Stearns High Grade Structured Credit Strategies Enhanced Fund. It actually all started back in early 90’s. I don’t fully understand the working of the derivatives and credit swaps we’ve heard so much about. But I’m learning. These are ingenious, computer-driven schemes in which good money can be earned from bad debt, and Wall Street’s Masters of the Universe pocket untold millions while they bankrupt their investors and their companies. The crucial error was to allow financial institutions to trade on their own behalf. Today, many large trading banks are betting against their own customers. In the real estate market, banks aggressively promoted mortgages to people who could not afford them. These were assembled in packages. They were carried on the books as tangible assets when they were worthless. The institutions assembling them hedged their loans by betting against them. When the mortgages failed, profits were made despite and because of their failure. There is no moral justification for how Wall Street functions today. One of the most fascinating aspects of â€Å"Inside Job† involves the chatty on-camera insights of Kristin Davis, a Wall Street madam, who says the Street operated in a climate of abundant sex and cocaine for valued clients and the traders themselves showing themselves as psychopaths. She says it was accepted parts of the corporate culture that hookers at $1,000 an hour and up were kept on retainer and that cocaine was the fuel. There’s a lot to dislike about Wall Street that I have generated after watching this film mainly the pay, the culture and in many cases, the people. A lot of observers understood we had a housing bubble — Dean Baker, for instance, had been sounding the alarm for years — but few of the housing skeptics saw everything going on behind the bubble: That the subprime mortgages had been packaged into bonds, that the bonds had been sliced into tranches, that the formulas being used to price and rate the tranches got the variable expressing correlation wrong, that an extraordinary number of banks had purchased an extraordinary amount of insurance against getting that correlation wrong from AIG, that AIG had also priced the correlation wrong and would be unable to pay its debts in the event of a meltdown, that a meltdown would freeze the mostly unregulated shadow market that major financial institutions and players used to fund themselves, that the modern financial system was so fragile that an uptick in delinquent subprime mortgages could effectively crash the global economy. What’s remarkable about the financial crisis isn’t just how many people got it wrong, but how many people who got it wrong had an incentive to get it right: journalists, hedge funds, independent investors and academics regulators. Even traders, many of whom had most of their money tied up in their soon-tobe-worthless firms. I don’t think anything can change my views about US markets. After watching this movie and my own views from reading day by day news articles and after President Barack Obama again reelecting those people to run the government who got us into this mess.

How democratic was Andrew Jackson? Essay

Andrew Jackson may have been the most popular president in the history of United States. Andrew Jackson was elected as a president for his democracy and he was still getting votes from electors fifteen years after he died. But was Andrew Jackson democratic at all? He didn’t democratically act in a lot of circumstances like being partial to the poor, not paying attention to the Native Americans or not listening to Van Buren that caused a big scandal in society. Jackson was born in 1767 on the border between North and South Carolina. He was a kid with a wild streak that grew up in a poor family. His childhood was so dramatic and full of events that they made him be brave and experienced in situations. Jackson was voted for the presidency in 1828 and was reelected in 1832. He was said to create a new era of real democracy in America. But like other men, Jackson was not democratic at all and he was also claimed as behaving more like the king. First of all, Andrew Jackson was not democratic because he gave more power to the poor and seemed to be partial to them. While it was democratic that he tried to balance the power between the rich and the poor but in this circumstance, he totally took down the rich. In Document 3 which is a political cartoon, Jackson holds a veto in the left hand and a scepter in the right and tramples on the Federal Constitution and The United States Bank. It was said that Jackson was fear on the rich and powerful who may cheat the acts of government to their own selfish benefits so he vetoes the Congress’s bill to recharger the Bank in July in 1832 and removes the deposit. In fact, Jackson was doing more damage to the bank and he biased against the wealthy men in command. He may have little or no trust in what the Congress and government had deemed to be in the country best interest. In Document 5, Jackson â€Å"inflame the poor against the rich†, The rich and powerful are also People but Jackson didn’t listen to and follow their wishes. That was not democratic. In Document 2, Daniel Webster compliments that Andrew Jackson was democratic. It seemed to be contrary to his reply to Andrew’s Bank veto that Daniel totally criticizes Andrew for turning against the rich. But we can see that Webster claimed that: â€Å"Jackson was the hero of the dirt farmer.† It supported that Andrew Jackson is so partial to the poor and just stand for their sides. Jackson did have democratic ideas but his ideas didn’t actually benefit all people. This was undemocratic as it didn’t benefit all people that he took the rich down and just cared for the low class. Additionally, Jackson also acts undemocratically that he didn’t include the Native Americans. In Document 3, Andrew looks like a king although he is president because of not taking care of the Native Americans and some tribes. Since a president takes to care for all people, Jackson just cares of part of them and abuse for his power and acts only in his best interests. Based on Document 8, Jackson persuaded the Native American but actually forced them and some tribes to west of the Mississippi. It means that he kicked them out of U.S. Jackson was not democratic because he moves them to such useless land as the land was ruined and poor. Despite looking to the citizens of U.S. well, Jackson wasn’t paying attention to the suffering that he was inflicting on Native Americans. This one side shows that Jackson was not a democratic president as many people think he was. The pinnacle of being undemocratic of Jackson was in Document 7, â€Å"Jackson refused to listen. He liked Swartwout because he had been an early supporter.† Jackson appointed Samuel to the office of the collector of Port of New York instead of Buren because Swartwout was offered by people more than Van. It is contrary to his democracy of following people’s wishes that he didn’t listen to Buren. Andrew went against all reason and showed a great lack of good judgment when he appointed one of his homies who is a notorious thief. Since Samuel was in office, there was a scandal that â€Å" Swartwout absconded with $1222705.09. It was a monumental theft†¦Ã¢â‚¬  This ended up hurting the country economically and totally affected the common goods. This selfish act was a foolish one. Although Andrew Jackson, as I stated, was an undemocratic president, he was still kind and compassionate and still has little democracy. Based on Document 11, Jackson adopted a child and took care of him. He wrote letters to his wife that he would adopt an Indian son, Lynconya, â€Å"I send him to my little Andrew and I hope he will adopt him as one of our family. And the letter on December 28th, 1823, Jackson wrote that â€Å"Tell Lyncoya to read his book and be a good boy and obey you in all things.† We can see, Jackson was still democratic as he adopted an Indian boy and also buried him in the family cemetery when he died at age 14. Throughout Jackson’s life and his presidency and with the above evidence, Andrew Jackson was not a democratic president at all. He unfairly acted in several circumstances but he was also democratic and kind of adopting an Indian boy. I conclude Andrew Jackson was not as democratic as many people thought he was. His action towards people didn’t benefit everyone.

Automobile Industry History Essay

You are here: Home †º World Industries †º Auto Industry †º Auto Industry | Automobile Industry | Car Industry Auto Industry | Automobile Industry | Car Industry. Automobile Industry History : In the year 1769, a French engineer by the name of Nicolas J. Cugnot invented the first automobile to run on roads. This automobile, in fact, was a self-powered, three-wheeled, military tractor that made the use of a steam engine. The range of the automobile, however, was very brief and at the most, it could only run at a stretch for fifteen minutes. In addition, these automobiles were not fit for the roads as the steam engines made them very heavy and large, and required ample starting time. Oliver Evans was the first to design a steam engine driven automobile in the U.S. A Scotsman, Robert Anderson, was the first to invent an electric carriage between 1832 and 1839. However, Thomas Davenport of the U.S.A. and Scotsman Robert Davidson were amongst the first to invent more applicable automobiles, making use of non-rechargeable electric batteries in 1842. Development of roads made travelling comfortable and as a result, the short ranged, electric battery driven automobiles were no more the best option for travelling over longer distances. The Automobile Industry finally came of age with Henry Ford in 1914 for the bulk production of cars. This lead to the development of the industry and it first begun in the assembly lines of his car factory. The several methods adopted by Ford, made the new invention (that is, the car) popular amongst the rich as well as the masses. According the History of Automobile Industry US, dominated the automobile markets around the globe with no notable competitors. However, after the end of the Second World War in 1945, the Automobile Industry of other technologically advanced nations such as Japan and certain European nations gained momentum and within a very short period, beginning in the early 1980s, the U.S Automobile Industry was flooded with foreign automobile companies, especially those of Japan and Germany. The current trends of the Global Automobile Industry reveal that in the developed countries the Automobile Industries are stagnating as a result of the drooping car markets, whereas the Automobile Industry in the developing nations, such as, India and Brazil, have been consistently registering higher growth rates every passing year for their flourishing domestic automobile markets. Those who are interested in gathering more information about the Automobile Industry, may browse through the following links :

Ethical Marketing Reflective Essay Example | Topics and Well Written Essays - 1500 words

Ethical Marketing issues by Trump on Aberdeen Wind Farm - Essay Example It is evidently clear from the discussion that the Aberdeen Wind farm has resulted in ethical and legal battles between the Scottish government and entrepreneur, Donald Trump who believes the construction of the wind farm will result in an ugly sore adjacent to his greatest golf course. According to Trump, building his $ 1 billion golf course in Aberdeenshire was because he was informed that the wind farm project would not continue. However, â€Å"former and current first ministers, Jack McConnel and Alex Salmond† denied that they agreed to have the project stopped owing to the plans for the building of the golf resort by Trump. The current minister says Trump wanted the current government to be held accountable for the promises of the previous government, which he believes is not possible and resulted in a court battle filed by Trump’s legal team. In a bid to halt  the development of the wind farm, Trump appeared before the Scottish Parliament’s committee on e conomy, energy, and tourism and he said the wind farm was the most serious problem facing Scotland. From the research, the aim of the wind farm includes the creation of 28,000 jobs, generation of 100 MW of electricity that would supply power to half of Aberdeen city, and act as a pilot project for the aims of turning the country into Europe’s green energy. The Scottish government approved the development of the wind farm resulting in Trump taking to the courts to challenge the project to which he subsequently lost despite the use of misleading campaigns and threats about the fall of the Scottish economy. He also made use of his celebrity status through different media channels and campaigns to influence the court decision, but he was not successful.

Importance of songs and music in bollywood films Essay

Importance of songs and music in bollywood films - Essay Example Ganti (2004, p. 13) describes presence of music in the films as a ‘masala’ which literally means spice. This captivates the audiences and makes the movies more interesting. Arguably, because of the interesting and captivating nature of the films, the people will in turn buy more of the films and thus record high sales for the Indian films. This has been the case since Bollywood films dominated Asian market. Music has for long been used in films to construct narrative. Morcom (2007, p. 31) notes that narrative is not only structured by visual means but also through music. Music functions as part of the process that broadcasts narrative information to the audience. In essence, music is a narrative agent. Emotion, mood, characterization, point of view and the action in the films are all structured in a multifaceted visual and oral interaction in which music is a significant aspect. Punathambekar (2008, p. 16) demonstrates the role of music and its significance in the Bollywood films through application of the linguistic tool to the film studies. From his application Punathambekar (2008) noted that any music can be used in a film but will be accompanied by different meanings (p. 18). Bollywood film makers have for long made no efforts to hide the fact that what the film represents on the screen is an illusion, a creation and a fiction. This implies that Indian films are self-conscious and aware of its audiences. The sequences of song and dances in the films break away from the practicality of the cinema and exist within a different modus operandi. These changes between distinct modes of pragmatism cause the cinema to be conscious of its illusionary set-ups (Ranade, 2006, p. 56). The audience by this time must apprehend the break in practicality, causing a relationship between the movie and the audience that is distinct from the Hollywood

Family communication Essay Example | Topics and Well Written Essays - 250 words

Family communication - Essay Example The belief system allows resilient families to make meaning of any challenge or crisis that they are currently facing while maintaining a positive outlook at the same time. Organization allows resilient families to remain flexible and stay connected. Finally, family communication allows resilient families to openly share their views, express their emotions and solve problems jointly. Thus, family resilience could be said to be the process through which a family copes with challenges as one functional unit. By having open communication avenues, a family would be able to identify their problems and challenges (Simon, Murphy, & Smith 224). At the same time, avid communication would allow the family to openly hold discussions on what these issues are all about as well as means through which the challenges could be averted. Communication within the family greatly enhances resilience by allowing the family members to engage in emotional expressions of views, open and clear communication. These aspects of communication within the family promote family resilience by bringing forth collaborative problem solving mechanisms that allow for conflicts to be solved and managed within the family unit (Simon, Murphy, & Smith 231). After all, communication is a two way traffic that heads to one single

Visual Analysis paper Assignment Example | Topics and Well Written Essays - 1500 words

Visual Analysis paper - Assignment Example Having emerged around 1910 in Europe, abstractionism disrupted the idea of classical beauty and aesthetics in art. It believed that the first steps towards new concept of abstractionism were made by Vasily Kandinsky, a remarkable painter of Russian descent, who created his abstract watercolors around 1910. Naturally, two world wars made a great contribution to changes in perception of painting and use of abstract concepts in visual art. Abstractionism ran through the works of such prominent innovators of the 20th century as Kazemir Malevich, Mark Rothko, Vasily Kandinsky, Piet Mondrian (and his De Stijl group) and Frank Stella. The core of their legacy is represented by the basic principles of abstractionism, though their styles and perceptions of reflecting the reality in painting differ in certain aspects (for instance, Malevich’s special philosophy of suprematism). Specifically, the two most visible approaches seen in paintings of these artists are surely color field techni que and hard-edge painting. Moreover, there are tendencies of minimalism that could be traced in their styles. Among the mentioned artists, Frank Stella’s period of activity began later (which isn’t surprising as the author was born in 1936) and has endured until nowadays. The artists seems to have absorbed influence of abstractionist school and embodied key concepts in his works. The set of directions preferable for Stella includes hard-edge painting, minimalism and post-painterly abstraction. The latter presupposes distinct edges, harmony or contrast of simple forms and monumentality. Post-painterly abstraction finds its reflection in many works of this prolific painter, and – notwithstanding new elements in the style – it is clear from Stella’s paintings that this style is based mainly on traditions of abstract expressionism, lavishly cultivated by Malevich, Rothko, Kandinsky and Mondrian. It could be stated that Stella’s way of self-expr ession through abstract