Last updated: July 20, 2019
Topic: FinanceBank
Sample donated:

movie clarifies the economic catastrophe, which occurred in 2008, and what
caused it. In the U.S., the economy dove into the Great Recession marking it
worse than the one in the 1930s. More than 8 million citizens were jobless with
six million losing their houses in the U.S. alone.

the 1990s, Lewie Ranieri who was a Wall Street banker created mortgage-backed
securities (MBS) meaning firms in Wall Street were in a position to collect
mortgages together in securities’ baskets then sell them to investors and
banks. They were safe ventures until banks started lending money to anyone,
including those who could not afford to buy a house, putting more unsafe
mortgages in the securities’ basket at C.D.Os (Collateralized Debt Obligation).

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The bank used CDOs to pile up bonds that weren’t selling together, and then
thought them diversified, and then acquired AAA ratings with no complaints. The
assessment organizations gave highest scores nonetheless. Massive leverage,
short-term interests, subprime lending, and poor risk controls were unethical
behaviors that the firms depicted during this period (Lewis, 2017). Their
short-term interests cost the economy effects felt over the whole world.

is the best thing in life. Greed brought about the 2008 fiscal crisis. It was
well based on short-term benefits instead of the bigger picture. We can benefit
if we learn how to stay away from excessive gains. Firms and assessment groups
gave misguided information on rankings and figures. False scales never end up
as true. It is best to stick to the truth; even if not that pretty. Banks as
well can prevent subprime lending. If due diligence is done by everyone then
the crisis can be prevented. We have learned something from the crisis. We are
required to behave ethically because at the end of it all it only affects us in